Acquisition and Creation

Question 1

Pierson v. Post – Key Points:

Answer 1

Property rights in wild animals can only be acquired by “occupancy.”
= Mortally Wounding or Killing
(really Possession)

Question 2

Ghen v. Rich – Key Points:

Answer 2

Swift v. Gifford – court says custom should control if it:
1. Embraces an entire business,
2. Is of limited application, and
3. Won’t disturb general understanding of mankind.
Rule of the First Taker:
When a whale is killed and taken possession of by a boat, and the ship does everything possible to secure it, it is the boats property.

Question 3

Keeble v. Hickeringill – Key Points

Answer 3

1. Court says Plaintiff’s activity is like a trade, and likens Defendant’s actions to maliciously interfering with that trade.

Question 4

Externality problem

Answer 4

costs borne by external parties tend to be ignored

Question 5

Problem of the Commons

Answer 5

The problem with running it as a commons is that individuals have incentives to look only at their private gains, instead of at the community gain

Question 6

Cheney Brothers v. Doris Silk Corp., – Key Points

Answer 6

Under the common law, copying and imitation are allowed.
In the absence of a common law rule or a statute, “and the plaintiff claims neither, a man’s property is limited to the chattels which embody his invention. Others may imitate these at their pleasure

Question 7

Prior Appropriation (First in time rule)

Answer 7

The person that first appropriates water from a stream and puts it to reasonable and beneficial use has a stronger right than later appropriators.

Question 8

Patentability = Fits into one of the general categories of subject matter

Answer 8

1) Process
2) Machine
3) Manufacture
4) Any composition of matter

Question 9

• Right to Exclude

Answer 9

One of the most essential sticks in the bundle of rights that are commonly characterized as property.
- Individual has a strong interest in excluding trespassers from his or her land.
- Society has an interest in punishing and deterring trespassers beyond the protection of the landowner
o Preserve the integrity of the legal system.

Question 10

Abandoned Property = Property which an owner has

Answer 10

• Voluntarily relinquished all right, title, claim and possession with the intention of terminating ownership, but
• Without vesting it in any other person and with the intention of not reclaiming further possession or resuming ownership, possession, or enjoyment.
• Perfect title cannot be abandoned under PA LAW.