Legal Acquistion and Transfer of Title to Property- personal property Flashcards
(21 cards)
how is tangible property transferred
- informally by delivery
or - the formal method by deed
what act must the formal method of transferring tangible property
s. 1 Law of Property Miscellaneous Provisions Act 1989
what is the process of informal transfer of chattels by delivery
it requires:
1. an intention to give
2. a legally recognised form of delivery which can be
a) actual
b) constructive
c) symbolic
what are the cases for transfer of title to chattels by delivery for the intention to give
Glaister-Carlisle v Glaister-Carlisle 1968
Dewar v Dewar [1975] 1 WLR
what is the case for transfer of title to chattel using actual delivery
Re Cole (1964)
Rawlinson v Mort (1905)
what is the case for the transfer of title to chattels by constructive delivery
Thomas v Times Book Company [1966]
what is the case for the transfer of title to chattels using symbolic delivery
Lock v Heath (1892)
what does the formal method of transfer of title to chattels using a deed require
- make it clear (s. 1(2)(a) LRA)
- be validly executed as a deed (s. 1(3)(a)(i)
- be delivered as a deed (s. 1(3)(b)
what are examples of intangible property
right to receive a debt,
intellectual property
different formalities can apply to certain intangible property
cheques must be endorsed (Bills of Exchange Act 1882)
debts must be assigned in writing and an express notice is in writing to be given to the debtor (s. 136 Law of Property Act 1925)
non registerable
what is the process of transfer of shares in intangible property
- in a private company it must comply with the Stock Transfer Act 1963 and Companies Act 2006
- transfer in statutory form must be signed by the transferor (s. 1(1) and (2) and Sch 1 Stock Transfer Act 1963
- registerable through the change of ownership recorded in the register of members (s. 113 and s. 128A Companies Act 2006)
what is common for private companies to do when transferring intangible shares
the articles give the company directors a power to refuse to register transfer of shares:
- if so the directors must refuse or register transfer within 2 months of application and give reasons (s. 771(3) and (4) CA 2006)
- if default, liable to a fine and transferee entitled to register
what are some factors of transfer of intangible shares
- directors must act in good faith in company’s interests
- it is a negative power
- articles can give more control
what does Article 26(4) Model mean with transfer of shares in intangible property
the transferor remains the holder of a share until the transferee’s name is entered in the register of members as holder of it, if refusal by directors seller of shares would hold on trust for unregistered purchaser
in a public company how is there an intangible transfer of shares
either by sale, will or gift, the transfer of shares in a public company, shares are electronically transferred via Certificateless Registry for Electronic Share Transfer (CREST)
how are intellectual property rights
there is no need for a transfer in the form of a deed and there is assignment of rights must be registered with the UK Intellectual Property Office, or future purchasers will not be bound by the transfer
what are the two acts used for intellectual property rights
Patents Act 1977
Trade Marks Act 1994
what are the rules on copyright
as soon as the work is created, copyright in that work belongs to the person who created it
how do you transfer copyright
by signing a transfer document
what intellectual property rights are registerable
patents
tradements
what intellectual property right is not registerable
copyright
