A bailee is a person who receives possession of a property or goods through a contract of bailment. Unlike a contract of sale, the bailee has to return the goods or property to the bailor, under a contract of bailment. A bailee is responsible for the safekeeping and return of the property to the bailor or otherwise disposing it off according to the contract of bailment.
A bailor is a person who transfers possession of property or goods to the custody of another (bailee), usually under a contract of bailment. A bailment is an act of transferring/placing property or goods in the custody and control of another. A bailment is created by the voluntary taking into custody or possession of goods or property which belongs to another.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Massachusetts has specific laws in place to protect individuals who store their furniture and other personal property with a bailee. A Massachusetts Waiver and Release for Furniture and Related Personal Property Stored by Bailee is a legal document that outlines the terms and conditions of the storage agreement and serves as a release of liability for the bailee. This document is crucial for both the bailee and the owner of the property, as it helps to establish clear expectations and responsibilities. One type of Massachusetts Waiver and Release for Furniture and Related Personal Property Stored by Bailee is the Residential Storage Agreement. This specific document is used when a bailee stores furniture and personal property in a residential setting. It includes provisions regarding the duration of storage, payment terms, liability limitations, insurance requirements, and the process for claiming the stored items. Another type of Massachusetts Waiver and Release for Furniture and Related Personal Property Stored by Bailee is the Commercial Storage Agreement. This agreement is tailored for businesses that provide storage services to individuals or other businesses. It covers similar aspects as the Residential Storage Agreement but may have additional clauses related to commercial operations, bulk storage, and special handling requirements. In general, a Massachusetts Waiver and Release for Furniture and Related Personal Property Stored by Bailee includes the following key elements: 1. Parties involved: The document identifies the bailee (storage service provider) and the owner of the property, including their legal names and contact information. 2. Description of property: A detailed inventory of the furniture and personal property that will be stored is included, such as a list of items, their conditions, and their estimated value. 3. Term and fees: The agreement specifies the duration of the storage period and outlines the payment terms, including any upfront fees, recurring charges, late payment penalties, or deposit requirements. 4. Responsibility of the bailee: This section explains the bailee's responsibilities to provide secure storage, maintain the property in good condition, and protect it from loss or damage. 5. Liability and insurance: The waiver and release clause defines the limits of the bailee's liability for loss, damage, or theft of the stored property. It may also state whether the bailee requires the owner to maintain insurance coverage for added protection. 6. Dispute resolution: The document may outline the process for resolving any disputes that may arise during the storage period, such as mediation or arbitration. It is important to note that the specific content and language of a Massachusetts Waiver and Release for Furniture and Related Personal Property Stored by Bailee may vary depending on the particular circumstances and legal requirements. It is recommended that both parties seek legal advice or utilize pre-approved templates to ensure compliance with Massachusetts laws and to protect their interests.
