bailee n: an individual or entity (as a business organization) having possession of another's personal property under a bailment NOTE: Carriers and warehouses are two examples of bailees. A bailee's liability for loss or damage to property is determined by the terms of the bailment or the law of the jurisdiction.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.