Law (Contract of Bailment Ppt)
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Transcript of Law (Contract of Bailment Ppt)
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BYPRIYANKA. NAPNEKARROLL NO: 10035.F.Y.B.C.A.F.
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CONTENT:
1. WHAT IS CONTRACT?2. WHAT IS CONTRACT OF BAILMENT?a) Definitionb) Meaning 3. FEATURES OF CONTRACT OF
BAILMENT
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WHAT IS A CONTRACT?
According to Section 2(h) of Indian Contract Act, 1872, a contract is an agreement enforceable by law.
CONTRACT= AGREEMENT+ ENFORCEABLE BY LAW
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WHAT IS CONTRACT OF BAILMENT?
DEFINITION: According to Section 148 of Indian
Contract Act 1872, a contract of bailment is a contract in which there is a delivery of goods from one person to another, upon a contract that when the purpose is accomplished the same shall be returned or otherwise disposed off as per the directions of the person delivering them.
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MEANING:
The term ‘Bailment’ is derived from a French word ‘Ballier’ which means ‘to deliver’. In bailment the possession of the goods is temporarily delivered from one person to another for a specific purpose.
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FEATURES OF CONTRACT OF BAILMENT: Existence of two parties. Delivery of goods. Goods means only movable goods. Return of goods. Temporary transfer There are two types of bailment: a) Gratuitous bailment. b) Non- Gratuitous bailment.