Ch. 3 Owning Personal Property

Question 1

4 categories of “found” chattels

Answer 1

Lost property

Mislaid Property

Abandoned Property

Treasure Trove

Question 2

lost property

Answer 2

owner unintentionally and involuntarily parts with it

• go to finder unless find is made at an owner-occupied residence, generally

Question 3

mislaid property

Answer 3

where owner voluntarily and knowingly places it somewhere, then unintentionally forgets it.

Belongs to owner of property where it was found

Question 4

abandoned property

Answer 4

when owner knowingly relinquishes all right, title and interest

goes to finder unless found owner-occupied residence, generally

Question 5

treasure trove

Answer 5

when owner concealed in hidden location long ago, usually limited to gold/currency/silver

Question 6

Finder is a bailee

Answer 6

duty to care for item

Question 7

when it comes to found property, the rights of which parties matter to US courts

Answer 7

only the present parties

Question 8

A subsequent possessor’s full payment to the finder bars any later action by true owner against possessor HOWEVER

Answer 8

true owner can compel successful finder to transfer payment

Question 9

trover

Answer 9

action seeking damages for wrongful taking of personal property

Question 10

replevin

Answer 10

recover possession of personal property

Question 11

a bailment is

Answer 11

an obligation to keep chattel safe and return it to prior possessor on demand

Question 12

bailee

Answer 12

rightful possessor of good by one who is not the owner

Question 13

3 types of bailments

Answer 13

mutual benefit: duty of reasonable care

Primary benefit of bailee: extraordinary care

primary benefit of bailor: only liable for property damaged because of gross negligence or bad faith

Question 14

basic rule of mislaid chattel

Answer 14

belongs to owner of locus in quo not finder because that person is in best position to return it to owner

Question 15

if a party finds property comparatively worthless and increases its value by labor and expense…

Answer 15

he has reasonable time to procure it before losing rights to it

Question 16

Gift defined

Answer 16

transfer of rights from donor to donee without any payment or other consideration

Question 17

inter vivos gift

Answer 17

gift given during life

Question 18

elements of inter vivos gift

Answer 18

• Donative intent
• Delivery
• Acceptance

Question 19

can a valid gift be made reserving a life estate?

Answer 19

yes

Question 20

test for gift intent

Answer 20

• Test is whether the maker intended the gift to have NO effect until after maker’s death or whether he intended to transfer SOME present interest… as long as evidence establishes an intent to make a present and irrevocable transfer of title or right of ownership, there is a present transfer of some interest and the gift is effective immediately

Question 21

types of delivery for gift

Answer 21

• Manual delivery: physically transfers possession
• Constructive delivery: donor physically transfers an object that provides access to the gifted item
• When manual delivery is impracticable or impossible
• Symbolic delivery: physically transfers an object that represents or symbolizes the gifted item to the done
• Only if manual delivery is impracticable or impossible
• ex. A letter

Question 22

Gift Causa Mortis elements (the only conditional gift)

Answer 22

• 1) must be made in contemplation, fear or peril of death
• 2) donor must die of the illness or peril which he fears or contemplates
• 3) delivery must be made
• She was worried about the operation not the illness, didn’t die from the operatio → not a valid gift

Question 23

donative intent

Answer 23

donor must intend to make immediate transfer of property

Question 24

acceptance of gift

Answer 24

presumed