A bailment is an agreement where one person (the bailor) delivers goods to another (the bailee) for a specific purpose, with the understanding that the goods will be returned or accounted for when the purpose is fulfilled. In a bailment, possession but not ownership is transferred. Examples include hiring goods, delivering clothes to a tailor for stitching, or delivering a car for repairs. The document then discusses different types of bailments and the rights and duties of bailors and bailees.