What defines a bailee in legal terms?

A bailee is legally defined as a person or entity that has possession of someone else's property, which has been entrusted to them by the owner. This relationship arises when the owner, known as the bailor, delivers their property to the bailee for a specific purpose, such as storage, repair, or transport. The bailee is expected to take care of the property and return it in its original or agreed-upon condition once the purpose has been fulfilled. The legal obligations associated with being a bailee include exercising a reasonable standard of care to protect the property and ensuring that it is returned to the owner when required. Understanding this definition is crucial in the context of personal lines insurance, as it determines liability and coverage in various situations involving entrusted property.