bailment for hire
- It's a type of agreement where both the person handing over the property (bailor) and the person receiving it (bailee) might profit, or the arrangement might solely benefit the individual obtaining the property (bailee)
- In the case of a storage unit rental, the agreement is a bailment for hire because the renter (bailee) has exclusive use of the storage unit and the owner receives a fee.
- When a garment is taken to the dry cleaners, it is a bailment for hire with both parties deriving benefit - the customer in having a clean garment and the cleaner in receiving payment.
- A car rental agreement falls under bailment for hire as the company (bailor) provides a vehicle for the customer (bailee) to use in return for a fee.
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