8: The law of property

Question 1

What is the definition of property?

Answer 1

a thing being owned by a person

Question 2

What is an example of something that is incapable of being property

Answer 2

Air, human being

Question 3

What two things are property classified into?

Answer 3

Realty and personalty

Question 4

What is realty

Answer 4

freehold land

Question 5

What is personalty classified into?

Answer 5

Chattel real and chattel personal

Question 6

What is chattel real?

Answer 6

Leasehold land

Question 7

What is chattel personal classified into?

Answer 7

Choses in possession and choses in action

Question 8

What is an example of chose in possession?

Answer 8

Furniture, hardware, clothing, bottles of wine

Question 9

What is an example of chose in action

Answer 9

Rights of a debt, shares in a company, goodwill

Question 10

Which of ‘choses in possession’ and ‘choses in action’ is incorporeal?

Answer 10

choses in action

Remember: choses in action = INtangible = INcorporeal

Question 11

Which of the intellectual property is only protected if it is registered?

Answer 11

Patents

Question 12

Name all four of the key types of intellectual property

Answer 12

Patent, Trade mark, Copyright, Designs

Question 13

What is the name of the dept that deals with registrations of intellectual property? (IPO)

Answer 13

Intellectual property office

Question 14

which intellectual property cannot be registered?

Answer 14

copyright

Question 15

how long can registered patents last up to?

Answer 15

20 years (have to renew every 5 years in that time)

Question 16

how long can registered trade marks last up to?

Answer 16

10 years

Question 17

Does registration protect it from the whole world? (i.e. all countries)?

Answer 17

No, you may have to register in different countries depending on where you want protected

Question 18

License is also another form of intellectual property. What can licenses be classified into? (2 things)

Answer 18

exclusive and non excluive license

Question 19

Franchising is a form of …?

Answer 19

License

Question 20

identify the difference between possession and ownership

Answer 20

To have possession over property means you are able to exercise control over the property, but not necessarily own the property itself.

For example, if you use your wife’s car to drive to the store, you are in possession of the car but the ownership is with your wife

To have ownership means you enjoy innumerable rights over the property

Question 21

What does it mean by saying the rights of ownership are divisible?

Answer 21

It means some of the rights may be detached without removing the ownership from the person.

For example, if someone drives your car, you may not be able to exercise the right to drive it. However you still have ownership of the car

Question 22

where property is owned under joint tenancy, can a co owner separate their equitable interest from the rest of the owners?

If so, how do they do it? and do they need consent from the rest of the owners?

Answer 22

Yes they can by means of a severance

this must be in writing

do not need consent

Question 23

in a joint tenancy, do the co - owners own shares of the property?

Answer 23

No. The single item of property is owned by two or more persons together

Question 24

what are the two ways property can be co-owned (in english law)

Answer 24

Joint tenancy and Tenancy in common

Question 25

main difference between joint tenancy and tenancy in common

Answer 25

tenancy in common have individual shares in the property