Section 575: Contract of bailment

1) If a person so delivers any goods to another person that the goods shall be returned to him or her or handed over or sold to any other person according to his or her direction, a contract of bailment shall be deemed to have been concluded.

Explanation: For the purposes of this Chapter, the term “goods” means any movable property and right in such property, other than currency in circulation.

2) In concluding a contract pursuant to sub-section (1), a deed shall be executed while bailing any property the price of which exceeds twenty-five thousand rupees.