Management Notes

Menu
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • News
Menu
Termination of bailment

Termination of bailment – Bailment

Posted on May 17, 2018May 24, 2020 by Smirti

Termination of Bailment | What is termination of bailment? | Bailment | Business Law  | Management Notes

Termination of bailment means the bailment comes to end and the legal relationship of the parties is no longer remain. There are various circumstances under which the contract of bailment is terminated. The Nepalese Contract Act, 2056 has also laid down some legal provisions in respect of the termination of bailment. A bailment is terminated as following ways.

i. On the expiry of specifies time period

If the bailment is for specific purpose, the bailment terminates as soon as the purpose is fulfilled.

ii. On the accomplishment of specific purpose
If the bailment for specific purpose, the bailment terminates as soon as the purpose is fulfilled.

iii. Inconsistent act with the terms
If the act of bailee inconsistent with the terms and conditions of bailment, the bailor can terminate the bailment.

iv. On the death of either party
A contract of gratuitous bailment and of personal nature may be terminated on the ground of the death of either party. But, contract of non gratuitous bailment may not be terminated, the liability falls on their legal representatives.

v. On the destruction of subject matter

If the original condition of the bailed goods does not exist or is destroyed, the contract of bailment automatically terminated, because the purpose will not be fulfilled or the performance of the contract is impossible.

Share this:

  • Twitter
  • Facebook
  • Reddit
  • Pinterest
  • WhatsApp
  • LinkedIn
  • More
  • Pocket
  • Tumblr
  • Skype
  • Telegram
  • Print

Related Posts

  • Business Law
  • 2 thoughts on “Termination of bailment – Bailment”

    1. Divya misthika says:
      November 21, 2018 at 8:27 pm

      It’s very short and useful to us

      Reply
    2. Buddy Nalepa says:
      March 8, 2019 at 7:35 am

      There are some fascinating cut-off dates in this article however I don’t know if I see all of them middle to heart. There’s some validity however I’ll take maintain opinion till I look into it further. Good article , thanks and we want more! Added to FeedBurner as well

      Reply

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Categories




    Recent Posts

    • Which of the following experiments involves the use of operant conditioning? | Psychology February 10, 2021
    • Nagarik Lagani Kosh – Citizen Investment Trust | नागरिक लगानी कोष February 3, 2021
    • Unsound Mind- Rules Regarding Person of Unsound Mind | Business Law January 28, 2021
    • Unpaid Seller – Rights and Duties of Unpaid Seller | Business Law January 27, 2021
    • Agency By Ratification – Essential of Valid Ratification | Business Law January 27, 2021

    Subscribe on YouTube




    Top Posts & Pages

    • Key elements of Organizational Behavior | Organizational Behavior
    • Levels of Organizational Behavior - OB| Management Notes
    • Importance of Organizational Behavior - What is OB? | Organizational Behavior
    ©2021 Management Notes | Design: Newspaperly WordPress Theme