Understanding Bailment: Personal Property vs Real Property

Can real property or persons be the subject of a bailment?

The given statement "only personal property, not real property or persons, can be the subject of a bailment" is true.

Explanation:

Bailment refers to the temporary transfer of possession of personal property from one person (bailor) to another person (bailee) for a specific purpose. Personal property includes tangible items like cars and jewelry, as well as intangible items such as stocks and bonds.

Real property, on the other hand, consists of land and anything attached to it permanently, like buildings and fixtures. Since bailment involves the transfer of possession, not ownership, and real property cannot be physically transferred in the same way as personal property, real property cannot be the subject of a bailment.

Bailment is a legal concept related to property and does not apply to persons. The transfer of possession and responsibility for a person would fall under different legal concepts such as guardianship or custodial arrangements.

In summary, the statement is true – only personal property, not real property or persons, can be the subject of a bailment due to the nature of the legal concept and the transfer of possession involved.