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LSDefine
Simple English definitions for legal terms
customers' goods
Read a random definition: contingent beneficiary
A quick definition of customers' goods:
Customers' goods: These are things that belong to the customers of a business. They can be anything that can be moved, like clothes, toys, or furniture. Sometimes, a business might keep these things for safekeeping, like a storage unit. Insurance companies might also use this term to talk about things that belong to their customers and need to be protected.
A more thorough explanation:
Definition: Customers' goods are tangible personal property owned by customers and held by a policyholder as a bailee. They can include items of trade or merchandise, things that have value, and goods used for personal, family, or household purposes.
Examples: A dry cleaner holding a customer's clothing for cleaning is holding customers' goods. Similarly, a storage facility holding a customer's furniture is holding customers' goods.
Explanation: Customers' goods are goods that belong to someone else but are in the possession of another person or business. The examples illustrate how a business can hold customers' goods as a bailee, meaning they have a duty to take care of the goods and return them to the customer when requested.