Business, Legal & Accounting Glossary
One who bails property; one who places property in the hands of another (called a bailee) for safekeeping.
A person who transfers goods to another under a bailment. No title is transferred, and the bailor can expect to get the goods back when the conditions of the bailment are fulfilled.
n. a person who leaves goods in the custody of another, usually under a “contract of bailment,” in which the custodian (“bailee”) is responsible for the safekeeping and return of the property. Sometimes the bailor is not the owner but a person who is a servant of the owner or a finder (say, of jewellery) who places the goods with the bailee until the owner is found.
Someone who delivers an item of personal property to another person for a specific purpose. For example, a person who leaves a broken VCR with a repairman in order to get it fixed would be a bailor.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Bailor are sourced/syndicated and enhanced from:
This glossary post was last updated: 26th April, 2020 | 1 Views.