Legal Definitions - lucrative bailment

A lucrative bailment occurs when one person (the "bailor") temporarily entrusts their personal property to another person (the "bailee") for a specific purpose, and the bailee receives payment or some other form of compensation for holding, storing, or working on that property. Essentially, it's a paid service where someone takes temporary possession of your belongings.

Here are some examples to illustrate this concept:

• Example 1: Car Repair Shop

  When you take your car to a mechanic for repairs, you are the bailor, and the repair shop is the bailee. You temporarily give possession of your car to the shop, and in return, you pay them for their services (the repairs and the temporary storage of your car while it's being worked on). This arrangement is a lucrative bailment because the shop is compensated for taking care of your property.

• Example 2: Self-Storage Unit

  If you rent a self-storage unit to keep your furniture and personal belongings, you are the bailor, and the storage facility is the bailee. You entrust your property to their care within the unit, and you pay a monthly fee for this service. The payment makes this a lucrative bailment, as the facility profits from storing your items securely.

• Example 3: Pet Boarding Kennel

  When you go on vacation and leave your dog at a pet boarding kennel, you are the bailor, and the kennel is the bailee. You temporarily transfer possession of your pet to the kennel, which agrees to care for it. You pay a daily or weekly fee for the boarding services, including food, shelter, and supervision. This compensation to the kennel makes it a lucrative bailment.