Bailment

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Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2015
Deposit money in bank, is it bailment. Can you clear me.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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08 January 2015 No.

It was held in the case of Shankar lal vs Bhura lal that the money deposited in current, savings or other accounts in a bank is not Bailment because the relationship between thebank and the depositor is one of a debtor and a creditor. on the other hand if a person keeps some valuables, cash or jewellery in a bank locker for safe custody, it is a case of bailment