A bailment is the delivery of goods by one person to another for some purpose , upon a contract that they shall, when the purpose is accomplished , be returned or otherwise disposed of according to the directions of the person delivering them .
In the case of gratuitous bailment , the bailor must disclose all the known faults to the bailee and if he doesn’t make such disclosure , he is responsible for the damage arising to the bailee directly from such faults .
In case of bailment for reward the bailor is responsible irrespective of the knowledge of the faults in the goods bailed .
Is a contract whereby one person (agent) is engaged or employed to do an act for and on behalf of another (principal) or to bring that another person (principal) into legal relationship with third person .
Principal : Person engaging or employing another to do an act for him
Agent : Person so employed or engaged to do an act for another .