CONTRACT OF BAILMENT IN NIGERIA: AN APPRAISAL

Authors

  • Worluh-Okolie, Nkechinyere Huomachi, Ph.D
  • Joseph-Asoh, Chukwudemebi Okoye, PhD
  • Abieyuwa Blessing Igbinosa-Okoro

DOI:

https://doi.org/10.53704/fulaj.v1i1.521

Abstract

Abstract

The contract of bailment, a fundamental aspect of Nigerian contract law, serves as a legal framework governing the relationship between a bailor and a bailee concerning the temporary transfer of possession of goods or assets. This paper provides a comprehensive appraisal of the contract of bailment within the context of Nigerian legal jurisprudence. The paper adopts the doctrinal research method and employs the use of legal and critical analysis in its delve into the foundational principles underpinning bailment contracts in Nigeria, examining the rights, duties, and liabilities of both parties involved. It explores the legal requirements for establishing a valid bailment agreement, including the essential elements such as delivery, acceptance, and the purpose of the bailment. Furthermore, the study critically evaluates the statutory provisions, case laws, and judicial interpretations shaping the landscape of bailment contracts in Nigeria. It highlights the importance of clear terms and conditions in bailment agreements to mitigate disputes and ambiguities that may arise during the bailment period. The paper also addresses contemporary issues and challenges facing the bailment contract in Nigeria, such as the impact of technological advancements, the role of insurance, and the enforcement of bailment rights in the face of breach or negligence by either party. The paper concludes that contracts of bailment play a pivotal role in Nigerian commerce. It facilitates transactions, safeguards the interests of both parties, and ensures the lawful and efficient transfer of goods. To further strengthen this vital legal framework, the paper advocates for a clearer legislative framework and increased stakeholder awareness. By doing so, we can enhance the effectiveness and fairness of bailment contracts in Nigeria.

Keywords: Contract, Bailment, Bailor, Bailee, Appraisal

References

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Published

2024-04-10