Questions and answers on agency, bailments and sales

 
9780217450805: Questions and answers on agency, bailments and sales

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1904 Excerpt: ... QUESTIONS AND ANSWERS ON BAILMENTS. I. What is a bailment? A bailment is a transfer of the possession of personal property, without a transfer of ownership, for the accomplishment of a certain purpose, whereupon the property is to be redelivered, or delivered over to a third person. (Hale, 2). A delivery of goods in trust upon a contract, either expressed or implied, that the trust shall be faithfully executed on the part of the bailee. (Bl. Com., 451). A delivery of goods in trust upon a contract, expressed or implied, that the trust shall be duly executed, and the goods restored by the bailee as soon as the purposes of the bailment shall be answered. (2 Kent, 559.) 2. What is the distinction between a bailment and a sale? One established test between a bailment and a sale, is that when the identical thing delivered is to be returned, though, perhaps, in an altered form, it is a bailment and the title is not changed; but when there is no obligation to return the specific article received, and the receiver is at liberty to return another thing, either in the same or some other form, or else to pay money, he becomes a purchaser; the title is changed; the transaction is a sale, and the property is at the receiver's risk. (Benj., Sales, sec. i; Tiffany, Sales, i.) 3. What is the mutuum of the Roman law? A delivery of goods not to be returned in specie, but to be replaced by other goods of the same kind. At common law, such a transaction is regarded as a sale, and not a bailment. (Hale, 36.) 4. What character of property only is the subject of bailment? By the civil law corporeal personalty only might be bailed as it alone admitted of actual delivery; at common law incorporeal personalty, as evidences of title, debts, or choses in action, for which vouchers may...

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