(1) The bailee shall return the bailed
goods to the bailor after the expiry of the period specified at the
time of bailment of the goods or after the accomplishment of the
purpose for which the goods were bailed.
(2) If the bailee does not return the goods within the period
specified for retuning them pursuant to sub-section (1) or within a
reasonable period according to the nature of the goods failing such
specified period or if the bailor refuses to take the goods back
within such a period and if the goods are lost, stolen, damaged,
destroyed or deteriorated or any loss or damage is caused to the
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bailor due to such goods from that date, the respective party shall be
liable for the loss or damage arising from his or her own default.
(3) Except as otherwise provided for in the contract, in the
case of bailment of the goods owned by more than one person, the
bailee may return the goods to any one of the joint owners, or to the
person assigned by them, and if the goods are so returned, the
goods shall be deemed to have been duly returned.
(4) If the bailee does not hold the goods bailed to him or
her in accordance with the terms and conditions of the contract, the
bailor may take back the goods at any time.
(5) Except as otherwise provided for in the contract, the
goods increased or earned from the bailed goods, shall also belong
to the bailor.