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Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property ("chattel") for a time, but retains ownership. [1] The owner who surrenders custody of a property is called the "bailor" and the individual who accepts the property is called a "bailee". [2]
An agency is coupled with interest when the agent himself has an interest in the subject-matter of the agency, e.g., where the goods are consigned by an upcountry constituent to a commission agent for sale, with poor to recoup himself from the sale proceeds, the advances made by him to the principal against the security of the goods; in such a ...
It includes chapters on offer and acceptance, voidable contracts, contingent contracts, performance, breach of contract, contractual relations, the sale of goods, bailment, agency and partnership. It also covers topics such as consideration , misrepresentation and indemnity.
A fifth agency, the Department of Defense (excluding the U.S. Army Corps of Engineers), administers 8.8 million acres in the United States (as of September 30, 2017), consisting of military bases, training ranges, and more. Together, the five agencies manage about 615.3 million acres, or 27% of the U.S. land base.
It is the difference between forcing a rental fee and a total sale upon a defendant. In some cases the exercise of the dominion may amount to an act of trespass or to a crime, e.g. where the taking amounts to larceny , or fraudulent appropriation by a bailee or agent entrusted with the property of another (Larceny Acts of 1861 and 1901).
An agency agreement is a legal contract creating a fiduciary relationship whereby the first party ("the principal") agrees that the actions of a second party ("the agent") binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.
The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate.
Chapter 31 – Agency; Chapter 32 – Arbitration; Chapter 33 – Bailment; Chapter 34 – Bills of Exchange and Banking; Chapter 35 – Carriage By Air