A bailee is a person who has temporary custody of the personal property of another. The degree of liability for such property can vary depending on the circumstances and the terms of the bailment agreement.
Custody refers to the condition of holding a property or person within one's care and control. This comprehensive term has applications in various fields, from property management to legal and family contexts.
Impounding refers to the legal process of seizing and retaining merchandise, funds, or records by an officer of the law. It generally aims to secure the items in question as evidence, prevent their misuse, or ensure compliance with legal procedures.
In legal terms, possession refers to having, holding, or detaining property under one's control, and involves both custody and the right to exercise dominion.
Street name refers to the practice of holding securities in the name of a broker or another nominee instead of the customer's own name. This facilitates easier and faster transfer of shares.
