OUTLINES

Law of Bailment Essential characteristics Kinds of Bailment Rights, Duties & liabilities of Bailor & Bailee Pledge, Essential & Rights, Duties & liabilities Law of Agency Classification of Agency Rights, Duties & liabilities of Agent Termination of Agency

LAW OF BAILMENT
A bailment is delivery of the goods by one person to another

for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise disposed off according to the directions of person delivering them. Example A gives piece of cloth to B to stitched a suit. This is bailment.
A is Bailor (person who delivers the goods) B is Bailee (person to whom goods are delivered) Transaction: Bailment

BAILMENT
Essential Characteristics : 1. Contract 2. Delivery of goods and change of possession 3. For specific purpose 4. Movable goods 5. Return of specific goods

BAILMENT
Kinds of Bailments: 1. Gratuitous bailment 2. Bailment for reward or remuneration 3. Pawn or pledge

BAILMENT
Bailor

Rights Termination Returns of goods Claim compensation Enforcement of rights

Duties & liabilities Put bailee into possession Disclose faults in goods Bear risk for loss Bear necessary expenses Take back goods

BAILMENT
Bailee

Rights Particular lien Know faults in goods Claim necessary expenses Indemnity

Duties & liabilities Take care of goods Unauthorized use of goods bailed Returns of goods Pay damages

Lien
Lien is a right of a person to retain that which is in his

possession and which belongs to another, until the demands of the persons in possession are satisfied.
Kinds of lien: 1. General lien 2. Particular or specific lien

Pledge
The bailment of goods as security for payment of a debt or

performance of a promise is called Pledge.

Bailor is called pawnor Bailee is called pawnee E.g.: A borrows Rs. 4,000 against the security of his jewellery.

The bailment of jewellery is a pledge.

Pledge
Essentials: 1. Goods must be delivered as security 2. There must be actual or constructive delivery of goods 3. Only movable goods 4. Transfer of possession is essential

Pledge

Pawner Rights, Duties & liabilities Maintenance Receive back the goods Repay loan

Pawnee Rights, Duties & liabilities Receive payment Recover extra expenses Owners default

Law of Agency
What is Agent, Principal? An agent is a person employed to do an act for another or to

represent another in dealing with third persons.

Who can be appoint as agent?

Law of Agency
How Agency constituted 1. Agent by agreement 2. Agent by necessity 3. Agency by estoppel or by holding out 4. Agency by operation of law 5. Agency by rectification

Law of Agency
Classification of agent 1. Specific or particular agent 2. General agent 3. Mercantile agent 4. Sub agent 5. Co-agent 6. Substitute agent

Law of Agency
Agent

Rights Claim Receive remuneration Particular lien

Duties Follow instruction Duty to act with skill Render account Communicate with principal Do not delegate his authority

Liability Foreign principal Principal cannot be sued Misrepresentation or fraud

Law of Agency
Termination of Agency

By act of the parties By agreement By revocation, renouncing By completion

By operation of law By death By insolvency of principal

Thank you
Babita Burdak Hiranya Pandya Ketan Shah Pulok Saha Sachin Katudia