122. Liability limited or enlarged by special agreement.

A gratuitous bailee may, by special agreement, limit or exclude his liability for any loss of, or damage to, the chattel1. His liability then depends upon the terms of the agreement2, subject to any statutory controls imposed upon the disclaimer. It is immaterial for this purpose whether the special agreement is oral or in writing3.

Although the relationship of depositor and depositary is not, because of the lack of consideration moving from the depositor, contractual4, it appears that the depositary can also enlarge his liability to the depositor by special agreement5. Consequently, if the bailee, in assuming possession of the