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bailment for mutual benefit

noun

Definitions of bailment for mutual benefit

  • the transfer of possession, but not ownership, of goods by one person, the bailor to another person, the bailee, where the bailee is compensated for keeping the goods and the bailor also receives some type of benefit

    "In the case of a bailment for mutual benefit, the bailee is under a duty to exercise ordinary care for the protection of the bailed property."

Phrase Bank for bailment for mutual benefit

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