Bailment

When one person delivers to another, certain goods to be used for a certain purpose, the contract is known as a contract of bailment. Here, the contract will specify the time for which the goods will remain with the person taking them. Also, the person who gives the goods can direct the other either to return the goods after the requisite time has expired or, direct him to dispose off the goods in a particular manner.

Accounting & Finance for Banking

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Accounting and Finance for Banking Module A Pdf

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