Flashcards in Personal Property Deck (25):
For abandoned property, who has ownership?
- personal property is where owner has voluntary given up possession with intent to give up title and control
- if yes, then finder who has possession has right and intent to assert title and control
If personal property is mislaid, who has rights, except for the true owner?
owner or occupier of where personal property prevails over finder
If personal property is lost, who has rights, except for the true owner?
Finder prevails over the owner or occupier of land
- finder is trespasser
- highly private locus (not open to public - home/private office)
For a valid inter-vivos gift requires?
1) donative intent to pass title (possession can occur later)
2) valid delivery
3) valid acceptance (implied by acceptance)
valid gift passes title
Delivery requirement of an inter-vivos gift can be accomplished by:
1) handing over the personal property
2) donee is already in possession
3) transfer a representative of the object of the gift
How is delivery of a check made out to donee accomplished to give personal property?
cashing of the check, not just possession
If a donor gives possession of personal property to donee's agent, when is delivery of the gift complete?
When handed to donee's agent
What are the requirements for a gift causa mortis?
apply rules of gifts inter-vivos (intent, delivery, acceptance)
1) donor needs to face a grave peril
2) how can it be revoked?
How can a gift causa mortis be revoked?
1) can revoke any time prior to death by donor
2) donee predeceases donor
3) donor recovers (gift only valid if donor actually dies)
When the donor dies from an cause that is something other than the peril that prompted the gift, does this cause a revocation?
No. It does not matter, so long as donor dies.
Requirement for bailment of personal property?
Bailment when alleged bailee has taken over custody of a chattel with intent to serve as a bailee
What is the standard for liability if chattel is destroyed during a bailment?
1) sole benefit of bailor then bailee is liable for gross negligence
2) sole benefit of bailee then bailee is liable for slight negligence
3) mutual benefit then bailee is held to ordinary care standard
- modern trend is to use ordinary care to all bailments
Is there a valid donative intent by surrendering an instrument to a party on the instrument?
Yes. This discharges the party's liability.
Do not need to write "cancelled" or "paid"
Does delivery of a check satisfy the delivery requirement for gifts?
No. Mere manual delivery does not fulfill the delivery requirement.
Can delivery of an indorsed check be accomplished by mere manual delivery?
Normally checks are not delivered until presented to banks.
Can gift causa mortis involve real property?
No - only applies to personal property.
Does the failure to record a quitclaim deed to real property, received as a gift when the donor believes they are about to die, mean the the gift be revoked?
No. recording the deed does not effect the irrevocable gift.
Gifts causa mortis are not valid for real property
May a petition in detinue for pretrial seizure of personal property be executed in one day?
Yes, even on a weekend or holiday.
If an owner needs to immediately obtain possession of personal property what is needed to file?
1) petition in detinue for pretrial seizure of property
2) temporary injunction to enjoin transfer
What must a petition in detinue describe?
kind, quantity, and estimated fair market value of the specific property that plaintiff seeks to possess
Bond posted (double the amount of the estimated fair market value)
What is the jurisdiction requirement to bring an action to recover personal property in VA circuit court?
Does a bona fide purchaser acquire title superior to that of the true owner of stolen property?
Who has superior right to a treasure trove, the finder or owner of land where found?
Finder superior right except the true owner.
Modern approach is to treat a lost property and superior rights are for the owner of land.
A common carrier is considered an ____ of the goods given to it by the shipper.
insurer of the goods
common carrier is liable for loss or damage to goods