BAILMENT - DEFINITION
According to Section 148 of the Contract Act A bailment is thedelivery of goods by one person to another for some purpose, upona contract that they shall, when the purpose is accomplished, bereturned or otherwise disposed of according to the directions of the person deliveringthem.
The person deliveringthe goods is calledthe bailor.
The person to whom they are deliveredis called the bailee, and
The transactionis called the bailment.
Common examples of bailment are hiring of goods, furniture or acycle, delivering of cloth to a tailor for making a suit, delivering awatchor scooter for repair, depositinggoods for safe custody, etc.