BAILEE FOR HIRE Meaning and
Definition
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Bailee for hire refers to an individual, organization, or entity that provides services to temporarily store or take care of someone else's property or possessions in exchange for compensation. This term is commonly used in legal contexts and primarily pertains to the contractual relationship established between the bailee and the owner of the goods.
A bailee for hire typically agrees to assume responsibility for safeguarding and preserving the goods or property entrusted to them by the owner, providing a secure storage environment, and ensuring the items are returned in the same condition as received. The duration of the arrangement is typically predetermined and agreed upon by both parties in a written contract or agreement.
The term "bailee for hire" derives from the legal concept of bailment, which refers to the transfer of possession of property or goods from one party (the bailor) to another party (the bailee) for a specific purpose and limited duration. In the case of a bailee for hire, the bailor compensates the bailee for their services.
Common examples of bailees for hire include storage facilities, moving companies, vehicle parking services, and art warehouses. These entities are entrusted with the duty to exercise reasonable care and diligence in protecting the goods they temporarily hold. However, it is important to note that the specific rights, obligations, and liabilities of a bailee for hire may vary depending on the jurisdiction and the terms of the agreement established between the parties involved.
