Contract Act

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Issue:

Social Issues

 

Written by:

Virginia H

 

Date added:

October 8, 2011

 

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Grade:

A

 

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10 / 2645

 

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707 times

 

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Essay content:

Deposit of money in a bank is not a bailment, as the bank is not bound to return the same notes and coins. Agent who collects money on behalf of his principal is not a bailee. ? KINDS OF BAILMENT The different types of bailment are as under:- 1) DEPOSITUM: Safe deposit vault is a bare bailment of goods for the use of the bailor...
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The lender is called the locator and the borrower is called the conductor. 3) VADIUM: This is a bailment where goods are pawned to be security for money borrowed. 4) MONDATUM: Goods delivered to be carried or something to be done to them for a reward. ? CHARACTERISTICS The contract of bailment possesses following characteristics:- a) CONTRACT There is a contract between a bailor and bailee...
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