Bailment is the transfer of possession of personal property to a person who is not its
owner and for a limited purpose. It requires the possession of the property by the bailor,
its delivery to the bailee pursuant to a contract or other agreement, and its acceptance by
the bailee. Ex. clothes at the dry cleaners, photo guy, restaurant checkroom, VCR at a
repair shop. A bailee is responsible to the bailor if the goods are lost or damaged by his
willful default or gross negligence