THE DELIVERY MAY BE ACTUAL OR CONSTRUCTIVE. The bailment arises on the delivery of the property to the bailee, the delivery sig nifying a mere transfer of the possession of the article and not a change of ownership or title. To constitute a bailment there must be a change of possession. (Schouler on Bailments, Sec. 39.) The delivery may be an actual delivery at the time of the bailment, as where a horse is transferred from the possession of the bailor to that of the bailee, or it may be constructive, as where the article is already in the possession of the bailee for some other purpose, and there is a mere assent that it shall from that time be held in bailment. But this change in the character of the holding must take place, one cannot retain possession as owner, and still be re garded in law as holding in pledge for another. See Story on Bailments, Sec. 55.