Definition
The legal act of temporarily handing over your property to someone else who isn't the owner—like giving your car keys to a valet. They're responsible for it, but you still own it.
Example Usage
The valet accepted the car in bailment and would be liable if it was damaged.
Origin
Old French 'baillie,' meaning delivery or custody
Fun Fact
Bailment is a three-way street: the bailee (person holding it) can be liable for breach, the bailor (owner) can demand return, and third parties may also have claims.
Source: Property and contract law fundamentals
Related Terms
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See “Bailment” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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