Shared Flashcard Set

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Property 1
Property 1
5
Law
Professional
12/08/2012

Additional Law Flashcards

 


 

Cards

Term

5 types of possession

 

Definition

    i.      Abandoned – 2 flavors:  1.      Intentional relinquishment –throw it away; “I don’t want this anymore” (F-L-ROW)

 

2.      Involuntary relinquishment – left w/o hope of obtaining it beer ship (O-F-L-ROW)

 

    ii.      Lost owner has involuntary parted carelessness (O-F-L-ROW)

 

1.      Court presumes that property is lost if cannot be determined

 

2.      Armory found the jewel and reduced it to possession he had superior interest to everyone except true rightful owner.

 

                                              iii.      Mislaid – intentionally put into place forgotten (O--L-F-ROW)

 

1.      Carefully bundled and found inside receptable

 

2.      Place where property found important (Benjamin wing plane)

 

3.      Presumed to have been left in custody of landowner; true owner return

 

iv.      Treasure Trove – type of mislaid property; buried or hidden treasure form of gold coins cash; owner unknown; “carries with it thought of antiquity”. (O-F-L-ROW)

 

v.      Fugacious property: not yet owned property; no one claimed       1.       wild life, intentionally abandoned property, oil, gas, baseball

 

2.      Rule of capture – a property interest in a fugacious thing is gained by the actual possession/capture of the thing.

 

a.      2 Variations

 

                                                                                               i.      Partial or probable capture: possession does not determine ownership.  Whaling case.

 

                                                                                                ii.      Equitable Division: resolve competing claims.

Rule: significant but incomplete steps to achieve possession and is unlawfully interrupted, actor has legally cognizable pre-possessory interest in property

Term
Bailment definition pust 2 types of bailments
Definition

  i.      Definition: Contracted (implicit or explicit) delivery of property for some purpose and after that purpose is filled, the property is redelivered to the bailor, or otherwise dealt with according to bailors directions or kept until bailor reclaims it. 

Bailor: person who gives property      Bailee: person who gets the property

 

1.      Gratuitous Bailment: keep it for free;benefits bailor only; liability is less than bailee for hire, bailee must exercise slight diligence std care

 

2.      Bailment for hire: both receive benefit; bailee must exercise reasonable care std

 

 

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