Exam 43: Personal Property and Bailment

Lacy set her textbook under her chair in her business law class and then forgot to take it with her when she left the classroom.A janitor later discovered the textbook and gave it to the Dean of the Business College.In this situation,

A bailment was created for the parties' mutual benefit.This means that the bailee must use ordinary care with the property.

Jake owns an old piece of exercise equipment.He has been using the equipment merely to hang his clothes on,so Jake decides to get rid of the thing.He takes the unused exercise machine to the landfill and throws it off the back of the truck.Maggie,a teenager,is at the landfill rummaging for useful items.Maggie sees the exercise equipment and decides it is just the thing to give her sister for Christmas,so she decides to take it home.As she is loading it into the back of her pickup truck,Jake stops and tries to get it back.The landfill owner sees the commotion and decides he would like to have the equipment as well.Who has the best rights in the exercise equipment?

All bailments have to be by agreement between the bailor and bailee.

If property is mislaid,the finder of the property will have a superior claim to possession of the property against everyone except the true owner.