This document discusses the legal concepts of bailment and pledge. Bailment involves the delivery of property into temporary custody of another for a specific purpose, with ownership remaining with the bailor. Essential elements of bailment include a contract, physical delivery of goods, a specific purpose, and a change in possession but not ownership. Pledge differs in that goods are delivered as security for payment of a debt, with the pledgee able to sell the goods to recover the debt value if needed.
Definition:-
A bailment is the delivery of goods by one person to another for some purpose upon the understanding that good shall be returned when the purpose is completed.
Bailment describes a legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person (the "bailor") to another person (the "bailee") who subsequently has possession of the property. It arises when a person gives property to someone else for safekeeping and is a cause of action independent of contract or tort.
Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership. To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel. Bailment is a typical common law concept although similar concepts exist in civil law (Spain- Depósito).
In addition, unlike a lease or rental, where ownership remains with the lessor but the lessee is allowed to use the property, the bailee is generally not entitled to the use of the property while it is in his possession.
A common example of bailment is leaving your car with a valet. Leaving your car in an unattended parking garage is typically a license rather than a bailment, as the car park's intent to possess your car cannot be shown. However, bailments arise in many other situations, including terminated leases of property, warehousing (including store-it-yourself) or in a carriage of goods.
Sale and agreement to sell under Law of Contract 2 where the difference or distinctive analysis between sale and agreement to sell is expressely mentioned with some of the provisions prescribed in the statutes of Law
Namjive is a Arts & Culture Education Project which operates in Namaqualand in the Northern Cape Province on South African's West Coast. The programme has been active in this rural region since 1997. The Namjive programmes
specifically target marginalized, unemployed youth and Primary and Secondary school learners in this region. Namjive’s programmes involve young people in creative activities aimed at building character, self-esteem and communicative ability.
Namjive’s core business involves :
Teaching the Arts & Culture Curriculum to Grades 8 & 9, and Dance Studies, Drama, Design and Visual Art as matriculation subject to Grades 10 to 12.
Mentorship , training and development: A training programme involving unemployed and post matriculated youth in a bid to develop arts and culture practitioners which will serve this region.
Extramural classes in dance, drama, visual art and design.
Namjive established a unique performing and arts aesthetic based on the indigenous Nama-Khoi culture.
Namjive is a Section 21 Company, a Non-Profit, not for gain, to uplift the community through arts and culture.
Registration No. 2005/028769/08 091-540-NPO
BOARD OF DIRECTORS N. van Zyl J. Strauss L. Losper D. Langdown R. Peters
Definition:-
A bailment is the delivery of goods by one person to another for some purpose upon the understanding that good shall be returned when the purpose is completed.
Bailment describes a legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person (the "bailor") to another person (the "bailee") who subsequently has possession of the property. It arises when a person gives property to someone else for safekeeping and is a cause of action independent of contract or tort.
Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership. To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel. Bailment is a typical common law concept although similar concepts exist in civil law (Spain- Depósito).
In addition, unlike a lease or rental, where ownership remains with the lessor but the lessee is allowed to use the property, the bailee is generally not entitled to the use of the property while it is in his possession.
A common example of bailment is leaving your car with a valet. Leaving your car in an unattended parking garage is typically a license rather than a bailment, as the car park's intent to possess your car cannot be shown. However, bailments arise in many other situations, including terminated leases of property, warehousing (including store-it-yourself) or in a carriage of goods.
Sale and agreement to sell under Law of Contract 2 where the difference or distinctive analysis between sale and agreement to sell is expressely mentioned with some of the provisions prescribed in the statutes of Law
Namjive is a Arts & Culture Education Project which operates in Namaqualand in the Northern Cape Province on South African's West Coast. The programme has been active in this rural region since 1997. The Namjive programmes
specifically target marginalized, unemployed youth and Primary and Secondary school learners in this region. Namjive’s programmes involve young people in creative activities aimed at building character, self-esteem and communicative ability.
Namjive’s core business involves :
Teaching the Arts & Culture Curriculum to Grades 8 & 9, and Dance Studies, Drama, Design and Visual Art as matriculation subject to Grades 10 to 12.
Mentorship , training and development: A training programme involving unemployed and post matriculated youth in a bid to develop arts and culture practitioners which will serve this region.
Extramural classes in dance, drama, visual art and design.
Namjive established a unique performing and arts aesthetic based on the indigenous Nama-Khoi culture.
Namjive is a Section 21 Company, a Non-Profit, not for gain, to uplift the community through arts and culture.
Registration No. 2005/028769/08 091-540-NPO
BOARD OF DIRECTORS N. van Zyl J. Strauss L. Losper D. Langdown R. Peters
Detailed Presentation on Bailment
By: Ayush Patria, Sangam Univerity, Bhilwara
(For Law Laboratory)
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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2. Bailment
• According to section 172;
• The delivery of property into the temporary
custody and control of another for some
purpose.
• Goods should be return after the completion
of purpose.
3. • Example;
• ‘’x’’ gives her jewelry to ‘’y’’ for safe custody
and after the completion of purpose
‘‘y’’return ‘’x’’ jewelry.
4. Parties of bailment;
• Bailor;The person who gives the bailed goods.
• Bailee;The person to whom bailed goods are
given.
5. Essentials of bailment;
• There must be contract between parties.
• There must be the physical delivery of goods.
• There must be specific purpose for bailment.
• There must be change of possession, no
change of ownership.
6. Kinds of bailment;
• According to benefit;
• For the benefit of bailer and bailee;
• When goods are delivered and it is beneficent
for both bailer and bailee.
• Bank provides locker facility under bailment.
7. • According to reward;
• Bailment with reward.
• When goods are delievered and bailee gets
reward for it.
• Bank provide locker and deliver charge.
• Bailment without reward;
• When goods re delivered and bailee does not get
any reward.
• ‘’X’’ gives her jewllery to’’ y’’ for safe custody.
8. Pledge;
• According to section 172;
• Bailment of goods as the security for the
payment of debt or for fulfillment of
obligations.
• Purpose ;security for loan.
• Example;
• ‘’X’’ borrows Rs 1000 from ‘’y’’ and give his
watch as security for payment of debt.
10. Bailment/Pledge;
Bailment;
• Goods delivered for use safe
custody .
• Goods can be retained but
can't be sold.
• Goods can be used if in
agreement.
• Goods should be return.
Pledge;
• Goods delivered as security
for payment of debt.
• Goods can be sold to
manage value of debt.
• Goods can not be used.
• Goods should return as the
debt or promise is
performed.