BAILMENT

in Anglo-American property law, delivery of specific goods by one person, called the bailor, to another person, called the bailee, for some temporary purpose such as storage, transportation, deposit for sale, pawn or pledge, repair or loan for use, with or without compensation. Formerly the bailee's responsibility for goods varied with the benefit he derived from the bailment. In present-day law, it is generally held that the bailee owes such duty of care as becomes the reasonably prudent man under the circumstances. The purpose and advantage anticipated from the bailment are considered as circumstances governing the extent of care owed by the bailee. Common types of bailment have been similar under most systems of law, and they were designated by specific names in Roman law. Some of them have characteristic legal consequences; e.g., the bailee for repairs is entitled to retain possession until he has been paid for his service.