Bailor


Bailor
An individual who temporarily relinquishes possession but not ownership of a good or other property under a bailment. The bailor entrusts the possession of the good or property to another individual, known as the bailee. A bailment is usually a contractual agreement between the bailor and the bailee that specifies the terms and purpose of the change in possession.

A bailor transfers possession, but not ownership, of a good to another party, known as the bailee, in the event of a bailment. While the good is in the bailee's possession, the bailor is still the rightful owner. A bailor/bailee relationship can be illustrated in the management of investment portfolios. A bailor can designate a bailee to supervise an investment portfolio for a particular time period. While the bailee does not own the portfolio, the bailor entrusts the chosen individual to ensure that the portfolio is in good hands until such time that the bailor can or wishes to resume the duties of managing the portfolio.


Investment dictionary. . 2012.

Look at other dictionaries:

  • bailor — bail·or /bā lȯr, bā lər/ n: an individual or entity (as a business organization) placing personal property in the possession of another under a bailment Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bailor …   Law dictionary

  • bailor — bail‧or [ˈbeɪlə, beɪˈlɔː ǁ lər, ˈlɔːr] noun [countable] LAW someone who gives or sells the right to use their property to someone else without selling it to them * * * bailor UK US /ˈbeɪlər/ noun [C] ► LAW a person who gives property to someone… …   Financial and business terms

  • Bailor — Bail or , n. (Law) One who delivers goods or money to another in trust. [1913 Webster] …   The Collaborative International Dictionary of English

  • bailor — [bāl΄ôr′, bāl′ər] n. Law the party who delivers property to another under contract of bailment …   English World dictionary

  • bailor —    One who entrusts his or her property to another the bailee for a limited period. An individual from whom or an institution from which a museum object is received, that is, the owner of the object, is a bailor, and may also be called a lendor… …   Glossary of Art Terms

  • bailor — or bailer noun Date: 1602 a person who delivers personal property to another in trust …   New Collegiate Dictionary

  • bailor — /bay leuhr, bay lawr /, n. a person who delivers personal property in bailment. [1595 1605; BAIL1 + OR2] * * * …   Universalium

  • bailor — noun One who bails property; one who places property in the hands of another (called a bailee) for safekeeping …   Wiktionary

  • bailor — bail·or || beɪlÉ™ n. one who delivers goods or entrusts property to another …   English contemporary dictionary

  • bailor — [beɪ lɔ:] noun Law a person or party that entrusts goods to a bailee …   English new terms dictionary