Examlex
The Articles of Confederation were adopted when states gave up their
Statute Of Frauds
State-level legislation that addresses the enforceability of contracts that fail to meet the requirements set forth in the statute; serves to protect promisors from poorly considered oral contracts by requiring that certain contracts be in writing.
Bailment
The legal relationship established when possession, but not ownership, of personal property is transferred from one person to another under an agreement.
Bailee Compensation
The payment made to a bailee for the service of temporarily holding or storing the bailor's property.
Gratuitous Bailment
A legal relationship where one party, the bailor, temporarily transfers possession of an item to another, the bailee, without expectation of payment or benefit.
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