English Law

Bailment
Bailment refers to the delivery of goods by the owner (known as the bailor) to a recipient (known as the bailee) under the agreement that the goods will be returned to the owner or otherwise disposed of according to the owner's directions. This arrangement can be made for various reasons such as lending, hiring, depositing for safekeeping, or pledging as collateral.
Land, Tenements, and Hereditaments
A phrase used in early English law to encapsulate all types of real estate, encompassing land and other properties inheritable by heirs.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.