What defines a bailment?

A bailment is defined as a legal relationship in which one party (the bailee) temporarily takes possession of another party's (the bailor's) personal property for a specific purpose, with the understanding that the property will be returned to the bailor once the purpose has been fulfilled. This can include situations where property is entrusted to someone for safekeeping, repair, or transport.

The emphasis on "temporary possession" is crucial; it differentiates bailment from a permanent transfer of property rights, which would not be classified as a bailment. Similarly, bailment does not involve transactions related to real estate, as it pertains specifically to personal property. While the rental of a vehicle might involve elements of a bailment since the rental company holds the car for the driver's use, this choice does not capture the broader and essential definition of bailment as involving just the temporary possession of personal property.

Therefore, the identification of a bailment as a situation where a person temporarily takes possession of another's personal property accurately reflects the legal essence of what constitutes bailment.