Under Section 148 of the Indian Contract Act, a 'bailment' is the delivery of goods by one person to another for some purpose. Which of the following is NOT a requirement of a valid bailment? 

Section 148 defines bailment as the delivery of goods by one person (bailor) to another (bailee) for some purpose, upon a contract that after the purpose is accomplished, the goods shall be returned or otherwise disposed of according to the directions of the bailor. Crucially, in a bailment, only possession is transferred, not ownership. Transfer of ownership would convert the transaction into a sale or gift, not a bailment. The bailor retains ownership throughout the bailment period, and the bailee holds the goods as a custodian. This distinction between possession and ownership is the fundamental characteristic separating bailment from sale under the Sale of Goods Act.