Monthly Archives: July 2017
If you are a property adjuster, you are familiar with losses caused by defective products. While some product defects may be a unique and isolated matter, we are seeing more cases of property damage as a direct result of a defective product. This is why it is so important we bring recent Consumer Product Safety… Read More »
Bailment is a legal relationship wherein a person (the “bailor”) transfers physical possession of personal property to another person or entity (the “bailee”). Only possession, not ownership, is transferred. The bailee must intend to and physically possess the property. Generally, the bailee is not entitled to the use of the property while in its possession.