Personal Property Flashcards Preview

Property > Personal Property > Flashcards

Flashcards in Personal Property Deck (55)
Loading flashcards...
1

Personal property definition

Rights in movable objects

2

How are rights in personal property defined?

By the manner in which objects are acquired

3

Chattels

Tangible personal property

4

Ways of Acquisition

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

5

rule of capture

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

6

occupancy

- deprive property of natural liberty and render escape virtually impossible

7

what kind of security against escape does occupancy require?

requires reasonable security against escape, not absolute

8

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

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

9

Is pursuit of animal enough for possession?

No

10

Who has superior right of capture?

LO

11

Who is not subject to rule of capture?

Domesticated animals

12

Categories for found property

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

13

Lost definition

unintentionally or involuntarily parts with it

14

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

15

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

16

Trover

P seeks damages

17

Replevin

P seeks possession of personal property

18

Mislaid definition

Voluntarily/knowingly places somewhere but forgets

19

Mislaid finder’s rights

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

20

Abandoned definition

Knowingly relinquishes all right to property

21

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

22

Treasure trove definition

Conceals property in hidden location long ago

23

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

Advertise

24

What can bar later action by true owner?

subsequent possessor’s full payment to finder

25

Winkfield Doctrine

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

26

Gift definition

Immediate transfer of property rights from donor to donee without consideration

27

Inter vivos gift

Ordinary gift of personal property one living person makes to another

28

Inter vivos requirements

1. donative intent
2. delivery
3. acceptance

29

Inter vivos revocability

Irrevocable

30

Donative intent

Donor must intend to make an immediate and irrevocable transfer