Outrageously Funny Word Dictionary :: Bailment

👉 Bailment is a legal concept in which a person who has been convicted of a crime, is released from jail or prison and is then required to pay a fee to the court for doing so. This payment is known as a "bail" and it serves as a form of restitution to the victim or parties involved in the case. The term "bailment" refers to the act of paying a fee to a person who has been released from jail, often referred to as a bail

bailment

👉 Bailments are transactions in which a person agrees to pay money or goods to another party, typically for the purpose of obtaining something from them. The payment is usually made by the creditor to the debtor, who then takes possession of the goods or property if they cannot return it on time. In many jurisdictions, bailments can be performed either through a formal process such as a will, or as an informal arrangement where the parties agree to pay money directly to one another. The payment is typically made

bailments