{"id":4278,"date":"2023-03-15T19:32:32","date_gmt":"2023-03-15T19:32:32","guid":{"rendered":"https:\/\/fisdomdevel.wpengine.com\/glossary\/bailment\/"},"modified":"2023-03-15T19:32:32","modified_gmt":"2023-03-15T19:32:32","slug":"bailment","status":"publish","type":"post","link":"https:\/\/www.fisdom.com\/glossary\/bailment\/","title":{"rendered":"Bailment"},"content":{"rendered":"<p>\nThe term bailment is used in case of a contractual transfer of assets between two parties  &#8211; a bailor and a bailee. Under this contract, only physical possession of the property is transferred and not the ownership. A bailment contract can be beneficial to either the bailor only or only the bailee, or both.<\/p>\n<h2>The essentials of a bailment contract include<\/h2>\n<p>1.Transfer of personal property by the bailor to the bailee.<br \/>\n2. Acceptance of possession of said property by the bailee<br \/>\n3. Fulfillment of terms of bailment contract<br \/>\n4. Payment of consideration under the bailment contract, if any.<br \/>\n5. Return of said property by the bailee back to the bailor.<\/p>\n<h2>Forms of Bailment<\/h2>\n<p>A bailment contract can be either in the form of a gratuitous contract (where no consideration is involved) or a non-gratuitous contract (where a certain consideration is transferred by the bailee to the bailor).<\/p>\n<h2><\/h2>\n<h2><\/h2>\n<h2><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>The term bailment is used in case of a contractual transfer of assets between two parties &#8211; a bailor and a bailee. Under this contract, only physical possession of the property is transferred and not the ownership. A bailment contract can be beneficial to either the bailor only or only the bailee, or both. The [&hellip;]<\/p>\n","protected":false},"author":67,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-4278","post","type-post","status-publish","format-standard","hentry","category-investing-essentials"],"_links":{"self":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/4278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/comments?post=4278"}],"version-history":[{"count":0,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/4278\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/media?parent=4278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/categories?post=4278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/tags?post=4278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}