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Apr 30, 2017 - Nov 4, 2018 - Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property ("chattel") for a time, but retains ownership. The owner giving up custody is the "bailor" and person who takes is "bailee". State bailment for hire statutes may also regulate the rights and duties of parties in Feb 20, 2020 - Duties of Bailor: 1) Disclosure of known faults (Section 150): Bailor is supposed to disclose the known faults in the goods bailed to the bailee and if Oct 6, 2017 - As per the section 148 of the Indian Contract Act, 1872, a bailment is a contract where one person delivers goods to another person for some purpose. 1. It is the duty of Bailor to disclose faults in goods bailed. It is the paramount duty of the Bailor to express the fault of.