WHEN BAILEE BECOMES LIABLE FOR A CONVERSION. When a bailee departs from the agreement under which he has possession of the bailed property, he becomes liable as for a conver sion. The bailor may waive the tort or wrong in such cases and sue for damages for the negligent use on the part of the bailee. But, as indicated in the last section, where the party is an infant, and not bound by his con tracts, it would be necessary to sue for the conversion of the goods, that is, in tort.
IS PERSONALTY. The contract of bail ment is always in reg,ard to personal property. In the early English law it referred to corporeal or tangible property only. But the law 110 NV allows the delivery in bailment of all kinds of personalty, whether visible and tangible, as horses, goods, etc., or incorporeal chattels, as notes, stocks, bonds and judgments. (Schouler on Bailtnents, Sec. I68.) So, a chattel mortgage upon a stock of merchandise, and even book accounts, may be placed in bailment, and such bailments have been sus tained by the courts.
But it is held that there cannot be a technical bail ment of property not yet in existence, as brick to be manufactured, but there may be a valid pledge of such property, so that when it does come into existence the rights of the pledgee will attach. But to constitute a bailment there must be property which can be deliv ered.