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Midwest Transaction Guide
 
Copyright 2016, Matthew Bender & Company, Inc., a member of the LexisNexis Group.


6-193 Midwest Transaction Guide 193.syn


Title

Personal Property Bailments

Author

Benson J. Barr;William J. Dale, Jr.;Philip Gordon;Howard J. Gourwitz;Samuel H. Young

Chapter Summary


ABSTRACT TEXT:

A "bailment" refers to the delivery and acceptance of personal property for some purpose under a contract with the condition that after the contract purpose has been fulfilled, the same property will either be returned to the person who delivered it, kept until the person reclaims it, or otherwise dealt with according to his or her directions. Under this definition, a bailment may be created when personal property is rented, leased, borrowed, held by a seller for a buyer after a sale, or deposited for storage, carriage, or repair. As with other contracts, a bailment contract must be in writing if will not be performed within one year.

This chapter from Midwest Transaction Guide provides an overview of bailments of personal property for non-business use. The discussion touches on relevant legislation, including the Federal Consumer Leasing Act of 1976; required disclosures; procedures on lease termination; application of the Uniform Commercial Code; warranties; breach of warranty by a bailor; and bailee liability for conversion. In addition, the chapter addresses abandoned and unclaimed property as they relate to bailments, as well as applicability of the Uniform Disposition of Unclaimed Property Act. The chapter also provides sample forms to be used in simple bailment and leasing situations.

Midwest Transaction Guide (Matthew Bender) offers comprehensive analytical and practical coverage of most transactions that an attorney will encounter in a general civil practice. This 14-volume set serves as both a legal reference resource and a valuable drafting tool. Most of the chapters contain a research guide, a legal background discussion, a practice guide, and a forms section. The five transactional areas of the law covered are: (1) business entities; (2) commercial; (3) personal transactions (includes personal affairs, family affairs, marital affairs, and marital settlement agreements); (4) estate planning; and (5) real estate.

CORE TERMS:

Bailment,personal property,contract,Federal Consumer Leasing Act of 1976,Uniform Commercial Code,warranty,breach of warranty,bailor,bailee,abandoned property,unclaimed property,Uniform Disposition of Unclaimed Property Act,lease

RELATED CHAPTERS: (View)

Secured transactions are addressed in Ch. 174.

Ch. 190 provides an overview of credit cards.

Consumer protection laws are covered in Ch. 191, and installment sales and loans are addressed in Ch. 192.

Ch. 194 discusses personal property liens.

RELATED PUBLICATIONS:

See Ohio Transaction Guide-Legal Forms (Matthew Bender) for legal background, research tools, practice guides, and forms pertaining to practices involving business wills and trusts, commercial, real estate, and personal transactions.

See Commercial Law and Practice Guide (Matthew Bender) for a unique combination of in-depth substantive analysis and practical guidance for handling commercial transactions, including sales transactions, leasing transactions, negotiable instrument transactions, letters of credit and secured transactions.

See Commercial Damages: A Guide to Remedies in Business (Matthew Bender) for expert analysis of specific remedies; examination of litigation costs, economic factors and other relevant practical considerations for both plaintiffs' and defendants' attorneys; and coverage of specific situations in which the business entity has been damaged, including remedies for breach of contracts for the sale or lease of goods.

See Forms & Procedures Under the UCC (Matthew Bender) for complete guidance and procedural analysis regarding both the mechanics of completing UCC related forms and the substantive law connected with those forms.
 
 
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