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What type of relationship is created when the owner of personal property entrusts another party to temporarily hold the property for a purpose that is for the mutual benefit of both parties?

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The term bailment guides to a legal relationship between two groups in common law, investments or property are transferred from a bailor to a bailee. In this relationship, the bailor shares physical possession of a piece of personal belongings with the bailee for a certain period but retains the right.

What is called bailment?

A 'bailment' is the delivery of goods by one person to another for some definition, upon a contract that they, when the purpose is accomplished, be returned or otherwise disposed to the directions of the person delivering them. The individual delivering the interests is called the 'bailor'.

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