Exam Prep Flashcards
To prepare for exam.
What is a real right?
Real rights are rights in a thing.
EG - Bob has a real right of ownership in a farm.
What is a personal right?
Personal rights are rights against another person.
EG - Bank of Scotland has a personal right of a standard security against Bob.
What is the principle real right
Ownership
What are subordinate real rights?
Subordinate real rights are always held by non-owner of that thing.
What does sequestrated mean?
Bankrupt
What does standard security mean?
Mortgage.
If there is a competition between real rights, what rule must you apply?
Prior tempore ptoior jure.
English: earlier by time, stronger by right.
An owner of a video game throws the game away. Who is now the owner?
The crown.
How can unowned things become owned?
Through occupatio.
What is a juristic person?
a human being (natural person) or a group of human beings, a corporation, a partnership, an estate, or other legal entity (artificial person or juristic person) recognised by law as having rights and duties.
What are the facts of the case of McKenzie v Maclean 1981?
Locals were stealing alcohol out of a skip. They were prosecuted successfully at a later date.
What does the case of McKenzie v Maclean 1981 show?
That abandoned property is property of the crown.
Is lost property ownerless?
No, it remains property of the original owner.
How long before lost property becomes property of the crown?
20 years.
What is a bona vacantia rule?
The expression bona vacantia means ownerless goods. In Scots law, ownerless goods fall to the Crown, whose representative in Scotland is the QLTR.
What is original acquisition of ownership?
Original acquisition of ownership is where the right of ownership is acquired by some legal process that gives the right of ownership to the beneficiary of that process, regardless of consent other than that of the acquirer.
What is derivative acquisition of ownership?
The right of ownership is acquired from the previous owner by the voluntary act of the owner.
What is an example of derivative acquisition of ownership?
Buying a loaf of bread.
What are the requirements for prescription?
Capacity, transferability and specificity.
What is transferability and specificity?
Transferability means can the right be transferred (even if wrongly) and specificity means only what can be identified can be transferred.
What is the publicity principle?
Transfer means there needs to be mutual consent AND an external or overt act.
IE for land the external act is a registered deed.
What does the case of Johnstown’s TR v Baird (2007) show?
Disposition needs to be registered in the Land Register.
What happened in the case of Johnstone’s TR v Baird (2007)?
Property was purchased in one person’s name however parties involved agreed that the property shall be co-owned. Only one name in Land Register though.
What happens when you AGREE to become owner of a property but you don’t receive a disposition?
You acquire a personal right (IE against a person) but not a real right (IE against the world) and you don’t become owner of the property.
OVERT ACT NEEDED!!
What are the 3 levels of warrandice?
(A) Simple
(B) Fact and Deed
(C) Absolute
What is simple warrandice?
Granter guarantees only that he or she will not grant any subsequent deed that could prejudice the deed now being granted.