Bailor
Definition of 'Bailor'An individual who temporarily relinquishes possession but not ownership of a good or other property under a bailment. The bailor entrusts the possession of the good or property to another individual, known as the bailee. A bailment is usually a contractual agreement between the bailor and the bailee that specifies the terms and purpose of the change in possession. |
|
Investopedia explains 'Bailor'A bailor transfers possession, but not ownership, of a good to another party, known as the bailee, in the event of a bailment. While the good is in the bailee's possession, the bailor is still the rightful owner. A bailor/bailee relationship can be illustrated in the management of investment portfolios. A bailor can designate a bailee to supervise an investment portfolio for a particular time period. While the bailee does not own the portfolio, the bailor entrusts the chosen individual to ensure that the portfolio is in good hands until such time that the bailor can or wishes to resume the duties of managing the portfolio. |
Related Definitions
Articles Of Interest
-
Should You Pawn Your Valuables?
Pawnshops provide easy access to short-term loans, but they aren't the only option. -
Home-Equity Loans: The Costs
Learn the factors to consider when comparing the different programs offered by various lenders. -
Car Title Loans: Good Option For Fast Cash?
These loans provide fast cash, but they could leave you deeper in debt - and without a car. -
Easy Ways To Cut Rental Costs
If rent payments are crippling your finances, then read on to learn how to save your money. -
What is an alienation clause?
Whether used in reference to insurance policies, mortgages or commercial loans, an alienation clause stipulates that should a purchaser or borrower sell his or her interest to another party, ...
Free Annual Reports