Bailee For Reward
Description
How to fill out Waiver And Release For Furniture And Related Personal Property Stored By Bailee?
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FAQ
Some examples of this include storage companies that hold people's belongings, a dry cleaner holding someone's clothing, and a mechanic holding someone's car for repair. The bailee does not obtain ownership rights to the property and must return the property when the contract has been fulfilled.
Bailment for Reward For example, when you leave your car with the mechanic for servicing, both you and the mechanic are benefitting from the transfer in custody of the car. The mechanic is receiving value in the form of payment and you are receiving value in the form of a serviced car.
(2) Bailments for reward. (a) Bailments in which the bailor pays for the safe keeping of a chattel; for example, the garaging of a car.
A bailment for reward where the bailee receives a fee for storing, repairing, transporting, handling, or holding the goods.
Bailments That Benefit Only the Bailee Checking a book out of the library is a common example. When you check the book out, you become the bailee while the library is the bailor, which gets no benefit from the relationship. It does, however, still expect you to return the book at the end of the rental period.
