COML201 WK11 L21-22 Property Law - Personal Property Flashcards
1
Q
What is personal property?
A
Personal property includes all property that is not land
2
Q
What are the two main types of personal property?
A
- Tangible property
- Intangible property
3
Q
What is tangible property?
A
Intangible property is property that has a physcial form, can be held and/or touched, and is capable of physical possession.
4
Q
What is intangible property?
A
Intangible property is property that does not have a physical form, cannot be held or touched, and is not capable of physical possession.
Ownership of intangible property is a set of rights which do not relate to something with a physical form/something intangible which requires legal action to be realised.
