Biz Law Final

Three ordinary bailments

1. Bailment for the sole benefit of the bailor. This is a gratuitous bailment (a bailment that involves no consideration) for the convenience and benefit of the bailor. Basically, the bailee is caring for the bailor's property as a favor. Therefore, the bailee owes only a slight duty of care and will be liable only if grossly negligent in caring for the property. Bailment for the sole benefit of the bailee. This type of bailment typically occurs when one person lends an item to another person (the bailee) solely for the bailee's convenience and benefit. Because the bailee is borrowing the item for personal benefit, the bailee owes a duty to exercise the utmost care and will be liable for even slight negligence. Bailment for the mutual benefit of the bailee and the bailor. This is the most common kind of bailment and involves some form of compensation for storing property or holding property while it is being serviced. It is a contractual bailment and may be referred to as a bailment for hire or a commercial bailment. In this type of bailment, the bailee owes a duty to exercise a reasonable degree of care.

Chattel (personal property)

Items that do not fit into the definition of real property; movable objects

Maintenance of Premises

Lessors of residential property are required to maintain dwelling units in a habitable condition. Landlords must make any necessary repairs to common areas such as hallways, stairs, and elevators, and they must maintain safety features such as fire sprinklers and smoke alarms. The tenant does not have to make any repairs but must return the premises in the same condition they were received, with allowances for ordinary wear and tear. Lessees of commercial and industrial properties, however, usually maintain the premises and are often responsible for making their own repairs.

exclusive possession

The tenant's right to control land during the term of a lease.

Real Property

physical property such as land and buildings