Examlex
Carroll, Daniels, and Elmore organized their veterinary practice as a professional corporation. This organization of professionals will be treated as a partnership for liability purposes.
Transfer Of Possession
The act of moving control or ownership of an asset from one party to another.
Bailee
A Bailee is a person or entity that has temporary possession of someone else's property under a bailment agreement.
Bailor
A bailor is a person or entity that entrusts their property to another (the bailee) under a bailment agreement, where the property is to be returned or otherwise disposed of according to the bailment terms.
Bailee Liability
The legal responsibility of a bailee, someone temporarily holding property for another, for damage or loss of the property.
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