Discussion Question

Background

According to Investing Answers (2015) Bailments (https://investinganswers.com/dictionary/b/bailment) are a transfer of custody of a piece of property rather than a transfer of ownership of a piece of property

In general, there are three kinds of bailments:

Service agreement bailments, whereby the bailee agrees to perform a service for the bailor (such as park or store a car).
Constructive bailment, whereby the bailee agrees to protect the bailor’s asset (such as with a safe deposit box).
Gratuitous bailments, whereby the bailor doesn’t receive payment from the bailee for the bailment (such as in free coat checks at a restaurant).
Bailment almost always involves a written contract. Sometimes, that contract is printed on the back of a coat check stub or a claim ticket for valet parking. Bailment can occur without compensation, however.

Use the discussion to demonstrate what you learned about bailments. Discuss the 3 types of bailments and identify the legal ramifications regarding possession or acquisition and treatment of the bailment.

Support your responses with examples.

For your citation, you might use articles that define the types of bailments. You can also find articles from experts that suggest which laws apply to each type.