Give an account of the duration and termination of bailments
What will be an ideal response?
A bailment generally expires at a specified time or when a certain purpose is accomplished. A bailment for a fixed term terminates at the end of the term or sooner, by mutual consent of the parties. A party who terminates a bailment in breach of the bailment agreement is liable to the innocent party for damages resulting from the breach. A bailment without a fixed term is called a bailment at will. A bailment at will can be terminated at any time by either party. Gratuitous bailees can generally terminate a fixed-term bailment prior to expiration of the term. Upon termination of a bailment, the bailee is legally obligated to do as the bailor directs with the property.
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