Bailment

Bailment refers to a legal relationship where the owner of a tangible item (the bailor) temporarily hands over possession of that item to another party (the bailee) for a specific purpose, like repair or storage, while retaining ownership. The bailee is responsible for taking care of the item and must return it or dispose of it according to the bailor's instructions once the purpose is fulfilled. Examples include leaving a car with a valet or entrusting clothing to a dry cleaner. The bailee has a duty to protect the bailed item and may be liable for any loss or damage.