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Contract Act
Essay specific features
Written by:
Virginia H
Date added:
October 8, 2011
Level:
Grade:
A
No of pages / words:
10 / 2645
Was viewed:
751 times
Rating of current essay:
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...
displayed 300 characters
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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...
displayed 300 characters
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