BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In this type of bailment, neither the bailor nor the bailee receives any remuneration. Such a bailment may be for the exclusive benefit of either the bailor or the bailee. However, it terminates on the death of either the bailor or the bailee.

Detailed explanation-2: -Gratuitous bailment is a type of bailment whereby the bailor transfers possession of property to the bailee on the basis that no compensation is to be paid. This type of bailment will arise in situations where a bailor will lend something to a friend and normally will be for the exclusive benefit of the bailee.

Detailed explanation-3: -Gratuitous bailment is a type of bailment in which the bailee receives no compensation. For example, borrowing a friend’s car. A gratuitous bailee is liable for loss of the property only if the loss is caused by the bailee’s gross negligence.

Detailed explanation-4: -Categorization of Bailment Gratuitous Bailment: Consideration does not exist either for the bailor’s advantage or the bailee’s advantage under gratuitous bailment. Non-Gratuitous Bailment: An non-gratuitous bailment is held for reward, and it is beneficial not only for the bailor but also for the bailee.

Detailed explanation-5: -Bailments That Only Benefits the Bailor This is referred to as a gratuitous (free) bailment.