Bailee

Summary of Bailee

A person or firm entrusted with temporary possession of the personal property of another. Possession of the goods by the Bailee conveys no title and the Bailee must surrender them to the owner upon completion of the purpose that gave rise to the bailment. A steamship carrier, for example, is Bailee for the shipper's merchandise. The law permits bailers for hire, such as common carriers and public warehousemen, a lien on the goods for unpaid charges.

(Main Author: William J. Miller)

Bailee in International Trade

Meaning of Bailee, according to the Dictionary of International Trade (Global Negotiator): A party having temporary custody of the property of another, such as a carrier or a warehouse.

Bailee

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See Also

• Gratuitous bailee