sir
why is money lending not considered as bailment - the study mat says bailment means change of posseion for specific purpose and is returned back or disposed off once the objective is achived , similarly money is given for specefic purpose i.e lending and intrest earning , and is returned back once the purpose is achived
Bailment is the delivery of goods....Money is not "goods". See Contract Act AND sale of Goods Act - definition sections.
It is the temporary placement of control over, or possession of personal property by the bailor to the bailee for a specific purpose for which the parties have agreed upon.....
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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