Section 575
Contract Of Bailment
(1) If a person so delivers any goods to
another person that the goods shall be returned to him or her or
handed over or sold to any other person according his or her
direction, a contract of bailment shall be deemed to have been
concluded.
Explanation: For the purposes of this Chapter, the term
“goods” means any movable property and right in such property,
other than currency in circulation.
(2) In concluding a contract pursuant to sub-section (1), a
deed shall be executed while bailing any property the price of
which exceeds twenty-five thousand rupees.