UCC 1 - Bailee / Leasee /

[powder]

Victory Joy recommends using the UCC-1 with the 'bailee' box checked.

Any thoughts / comments on this?

[ezrhythm]

I did a google search, "ucc-1 bailee box" and came up with this site.
If you have the Firefox browser you can search for words on a page.

I don't think it answers your question directly but may give you something to go on. The opinion certainly is interesting.
US Bankruptcy Court Opinion

This page mentions "bailee", scroll down to Sales Receipt and Document of Title;
http://www.libertydollar.org/ld/legal/legalopinionletter.htm

[fulltitle]

I figure down to the grit of it they are probably synonymous for all practical UCC purposes.

Lessor/Lessee
Congisnor/Consignee
Debtor/Creditor
Bailor/Bailee.

I gave it some thought (Warehouse Receipts and Bills of Lading) and the interesting thing about the bailor/bailee issue is that on one hand a) the bailee might have an obligation to the bailor because the bailor gave the bailee something in trust; on another hand 2) the bailor could be debtor to the bailee for bailee's services for what if the bailor has no gold or silver to pay the bailee with? Just ruminations perhaps.

But it seems more safe to say that Bailor=Creditor and Bailee = Debtor (i.e. that the Bailee is holding something for the Bailor and therefore has an obligation to the Bailee whether the Bailee is 'prospering' the thing held or not).

[Shoonra]

The bailee is the warehouseman, the garageman, or someone in a similar position. He stores (and sometimes maintains or repairs) property (the bailment) owned by the bailor.

When a car is left in a parking lot, that's a bailment. When a coat is checked at a restaurant, ditto.

The bailor is supposed to pay the bailee something for keeping the bailment for him. The bailee is supposed to return the bailment in the same condition (or better) than when it was entrusted to him.

[Extramural]

Originally Posted by Shoonra

The bailee is the warehouseman, the garageman, or someone in a similar position. He stores (and sometimes maintains or repairs) property (the bailment) owned by the bailor.

When a car is left in a parking lot, that's a bailment. When a coat is checked at a restaurant, ditto.

The bailor is supposed to pay the bailee something for keeping the bailment for him. The bailee is supposed to return the bailment in the same condition (or better) than when it was entrusted to him.

A Register of Deeds is a fine example of a Bailee.

They receive papers, place their stamp or recording mark thereon, record the document, and return the original to whomever is designated thereon to receive the original. [When recorded return to:]

[powder]

Thank you all for your input. It has helped clarify my understanding.