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Flashcards in Personal Property Deck (55):
1

Personal property definition

Rights in movable objects

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How are rights in personal property defined?

By the manner in which objects are acquired

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Chattels

Tangible personal property

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Ways of Acquisition

1. capture
2. find
3. adverse possession
3. gift
4. bailment
5. theft
6. purchase

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rule of capture

1. established in Pierson v. Post
2. ferae naturae is acquired by occupant

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occupancy

- deprive property of natural liberty and render escape virtually impossible

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what kind of security against escape does occupancy require?

requires reasonable security against escape, not absolute

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what are the limits for capture (at most v. at least)?

- at least mortally wounding from a distance
- at most physical possession

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Is pursuit of animal enough for possession?

No

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Who has superior right of capture?

LO

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Who is not subject to rule of capture?

Domesticated animals

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Categories for found property

1. lost
2. mislaid
3. abandoned
4. treasure trove

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Lost definition

unintentionally or involuntarily parts with it

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Lost finder’s rights

1. finder of property has right against all but rightful owner or previous finder
2. does not include right to sell = obligated to hold onto it and take care of it
3. true owner > first finder (good faith finder or thief) > second finder > third finder

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LO’s right to lost property found on land

1. Possesses everything attached to or under land
2. Does not necessarily possess unattached thing on surface of land
3. Superior claim to lost property against finders who are trespassers or hired workers

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Trover

P seeks damages

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Replevin

P seeks possession of personal property

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Mislaid definition

Voluntarily/knowingly places somewhere but forgets

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Mislaid finder’s rights

Stays where found = owner of property where found has rights over finder

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Abandoned definition

Knowingly relinquishes all right to property

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Abandoned finder’s rights

1. If you put labor into abandoned property, it becomes yours
2. Property ceases to be abandoner’s property when abandoned = becomes wild property

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Treasure trove definition

Conceals property in hidden location long ago

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What do you have to do to own property (majority)?

Advertise

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What can bar later action by true owner?

subsequent possessor’s full payment to finder

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Winkfield Doctrine

Once D has paid his court-mandated judgment = he is owner

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Gift definition

Immediate transfer of property rights from donor to donee without consideration

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Inter vivos gift

Ordinary gift of personal property one living person makes to another

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Inter vivos requirements

1. donative intent
2. delivery
3. acceptance

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Inter vivos revocability

Irrevocable

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Donative intent

Donor must intend to make an immediate and irrevocable transfer

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Delivery

Property must be delivered to the done so that the donor parts with dominion and control

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Types of delivery

1. manual
2. constructive
3. symbolic

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Manual

- Physical transfer of item
- Required if practicable

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Constructive

- Physical transfer of object that provides access to gift
- Allowed if manual delivery is impracticable or impossible

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Symbolic

- physical transfer of object that represents or symbolizes gifted item
- allowed only if manual delivery is impracticable or impossible

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Acceptance

- Donee must accept the property
- Acceptance of valuable item is usually presumed

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When is a gift of check completed?

Not until bank accepts it

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Majority engagement ring

conditional gift = must be returned to giver

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Minority engagement ring

person not at fault for broken engagement gets to keep it

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Gift causa mortis

gift of person property made by living person in contemplation of her death

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Gift causa mortis revocability

Revocable

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Different cause of death

some jurisdictions = gift still effective if donor doesn’t die from contemplated peril if
1. death occurs within same approximate time frame OR
2. cause of death is related to anticipated peril

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Gift causa mortis elements

1. donative intent
2. delivery
3. acceptance
4. donor's anticipation of imminent death

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When is gift causa mortis effective

Immediately, when gift is made

45

Bailment roles

1. bailor
2. bailee

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Bailor

owner of property

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Bailee

possessor of property

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Types of bailment

1. for mutual benefit
2. for primary benefit of bailee
3. for primary benefit of bailor

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Mutual benefit - Duty

Bailee has duty to take reasonable care of bailor’s property

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Primary benefit of bailee - Duty

Bailee is required to take extraordinary care of bailor’s property

51

Primary benefit of bailor - duty

Bailee is required to take ordinary care of bailor’s property (no gross negligence or bad faith)

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What does adverse possession not apply to?

Does not apply to intangibles

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Adverse possession elements

1. Actual
2. Exclusive
3. Open and notorious
4. Adverse and hostile
5. Continuous
6. For the statutory period

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Discovery rule (adverse possession)

Owner knows of or with exercise of reasonable diligence should have known of the cause of action and identity of claimant

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Transfer doctrine (adverse possession)

Person with voidable title can transfer good title to a good faith purchaser for value in some circumstances