Bailor

Business, Legal & Accounting Glossary

Definition: Bailor


Quick Summary of Bailor


One who bails property; one who places property in the hands of another (called a bailee) for safekeeping.



What is the dictionary definition of Bailor?

Dictionary Definition


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.


Full Definition of Bailor


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.


Cite Term


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https://payrollheaven.com/define/bailor/
Modern Language Association (MLA):
Bailor. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. December 04, 2020 https://payrollheaven.com/define/bailor/.
Chicago Manual of Style (CMS):
Bailor. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/bailor/ (accessed: December 04, 2020).
American Psychological Association (APA):
Bailor. PayrollHeaven.com. Retrieved December 04, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/bailor/

Definition Sources


Definitions for Bailor are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 26th April, 2020 | 0 Views.