Study of Contract of Bailment: Rights and Duties of the Parties Thereto

S.148 of the Indian Contract Act, 1872 deals with the contract of bailment. This paper highlights the various essential of a contract of bailment along with the important precedents related to the same. Complete elaboration on the rights and duties of the bailor and the bailee is done. In this paper analytical methodology have been applied to critically examine the concept of contract of bailment and the extent of liabilities of the parties thereto. The article thoroughly discusses the issue of whether the bailor or the bailee must take reasonable care of the goods and the liabilities that result from failing to do so. It further talks about the recent development in the laws relating to the contract of bailment. This paper aims at providing an analysis of the relationship of liabilities and duties that arises between the bailor and the bailee from the contract. It further helps understand and comprehend the intensity of the liabilities of the parties that may arise due to lack of taking reasonable care or negligence. Not only is the Bailee held liable for the lack of taking reasonable care but also the Bailor is emplaced in the same position. This paper aims to elaborately deal with many such rights and duties failure in performance of which the contract may be revoked by the discretion of the aggrieved party.