Ch 17/18 - Property Law

Question 1

Personal Property

Answer 1

all property, other than land and what is attached to it

Question 2

tangible property

Answer 2

personal property which is mobile, the value of which comes from its physical form

Question 3

intangible property

Answer 3

personal property, the value of which comes from legal rights

Question 4

bailment

Answer 4

temporary transfer of possession of personal property from one person to another

Question 5

bailor

Answer 5

the owner of property who transfers possession in a bailment

Question 6

bailee

Answer 6

person who receives possession in a bailment

Question 7

bailment for value

Answer 7

bailment involving payment for use of property or a service

Question 8

gratuitous bailment

Answer 8

bailment that involves no payment

Question 9

warehouseman

Answer 9

a bailee who stores personal property

Question 10

carrier

Answer 10

a bailee who transports personal property

Question 11

innkeeper

Answer 11

someone who offers lodging to the public

Question 12

Chattel lease

Answer 12

a contract where a lessee pays for the use of a lessor’s tangible personal property

Question 13

operating lease

Answer 13

a lease where the property is returned to the lessor when the term is up

Question 14

financing lease

Answer 14

lease that enables the lessee to finance the acquisition of tangible personal property

Question 15

lien

Answer 15

the right to retain possession of personal property until payment for service is received

Question 16

intellectual property

Answer 16

the results of the creative process, such as ideas, the expression of ideas, formulas, schemes, trademarks, and the like; also refers to the protection attached to ideas through patent, copyright, trademark, industrial design, and other similar laws

Question 17

patent

Answer 17

monopoly to make, use, or sell an invention

Question 18

patent agent

Answer 18

a professional trained in patent law and practice who can assist in the preparation of a patent application

Question 19

specifications

Answer 19

the description of an invention contained in a patent

Question 20

claims

Answer 20

the exclusive rights of patent

Question 21

industrial design

Answer 21

the visual features of shape, configuration, pattern, ornamentation, or any combination of these applied to a finished article of manufacture

Question 22

trademark

Answer 22

a word, symbol, design, or any combination of these used to distinguish the source of goods or services

Question 23

distinguishing guise

Answer 23

a shaping of wares or their container, or a mode of wrapping or packaging wares

Question 24

trade name

Answer 24

the name under which a sole proprietorship, a partnership, or a corporation does business

Question 25

cyber-squatting

Answer 25

the bad-faith practice of registering trademarks or trade names of others as domain names for purpose of selling the domain name to the rightful owner or preventing the rightful owner from obtaining the domain name

Question 26

copyright

Answer 26

the right to prevent others from copying or modifying certain works

Question 27

moral rights

Answer 27

the author's rights to have work properly attributed and not prejudicially modified or associated with products

Question 28

fair dealing

Answer 28

a defence to copyright infringement that permits the copying of works for limited purposes

Question 29

confidential business information

Answer 29

information that provides a business advantage as result of the fact that it is kept secret

Question 30

assignment

Answer 30

the transfer of a right by an assignor to an assignee

Question 31

licence

Answer 31

consent given by the owner of rights to someone to do something that only the owner can do

Question 32

Anton Pillar order

Answer 32

a pretrial order allowing the seizure of material, including material that infringes intellectual property rights

Question 33

foreclosure

Answer 33

the mortgagee's remedy to terminate the mortgagor's interest in the land

Question 34

deficiency

Answer 34

the shortfall between the outstanding mortgage balance and the proceeds from sale of the land

Question 35

tenant

Answer 35

the party in possession of land that is leased

Question 36

landlord

Answer 36

owner of land who grants possession tot he tenant

Question 37

lease

Answer 37

contract that transfers possession of land from the landlord to the tenant in exchange for the payment of rent; also refers tot he tenant's interest in land

Question 38

exclusive possession

Answer 38

the tenant's right to control land during the term of a lease