finders

Question 1

what is relativity of title

Answer 1

an owners rights to a particular res in terms of someone else’s rights to that res

Question 2

what is the rule of present possession

Answer 2

A present possessor of the res has superior rights to the res against all but a prior possessor – where the first possessor has superior rights to all

Question 3

what is replevin

Answer 3

the action or remedy(by the true owner) to recover the assest itsef(pluse money damages for the injury to the assest)

Question 4

Armory(relativity of title and possession): chimney sweep finds a jewel but a goldsmith takes it

The p was a chimney sweepers boy, and he found a jewel and carried it to the Ds shop, who was a goldsmith
P gave it to the apprentice, and the master came over
The master offered the boy the money, who refused to take it, and insisted to have the jewel again
The apprentice gave the socket without the stone

Issue: does the boy have rights to the jewel, even though he’s not the true owner?

Answer 4

Yes, under the rule of present possession

Question 5

what is trover

Answer 5

the true owner can seek monetary damages for the asset, and trover is the action for monetary compensation for conversion of personal property

Question 6

what is the black letter test for posession

Answer 6

physical control of the item and intent to control or posess the item

Question 7

what kind of property does the law lost, mislaid, and abandoned property apply to

Answer 7

personal property, not land

Question 8

define lost property and the rule

Answer 8

Exits where an owner UNINTENTIONALLY parts with the physical possession of property

RULE: lost property is subject to the rule of present possession. Therefore, a finder of lost property has rights to that property against everyone except a prior possessor. The true owner’s rights to that property are superior to everyone

Question 9

define mislaid property and the rule

Answer 9

Property with which the owner has INTENTIONALLY parted possession, but he FORGETS to return and retake possession of the property
RULE: the owner of the PLACE where the mislaid property is found has rights superior to the finder, but inferior to the true owner
That owner is referred to as the owner of the locus in quo

Question 10

define buried or attached property and the rule

Answer 10

Buried= property is concealed under the ground
Attached= it would require a tool to extract the property from the land
RULE=property that is buried underground or attached to land belongs to the owner of the land(subject to any claim of the true owner)

Question 11

define treasure trove and the rule

Answer 11

Property that consists of gold, silver, coin, or currency, which the owner HID in a SECRET PLACE
RULE: a minority of jurisdictions recognize property rights in the finder rather than the owner of the locus in quo

Question 12

what rule applies if the treasure trove exception is not avaiable

Answer 12

Without a treasure trove exception, the rule of mislaid property would apply, which would give property rights to the owner of the locus in quo over the finder (subject to any claim of the TRUE owner)

Question 13

define abaandoned property and the rule

Answer 13

Property that an owner has replenished all rights to (without transferring those rights to anyone else), having intended to relinquish those rights, and manifesting that intent through an act
RULE: the person who takes possession of abandoned property becomes the new true owner
That is the finder takes the property rights that the FORMER owner has abandoned

Question 14

Benjamin v linder aviation: airplane mechanic finds money hidden in airplane wing

FACTS
Benjamin found over 18k in the wing of an airplane
At the time of the discovery, state central bank owned the plane and it was being serviced by Linder aviation
State central bank became the owner of an airplane when the bank repossessed it from its prior owner who had defaulted on a loan
The money was wrapped in foil, and the money smelled musty and seemed to be from the 50s
The money ends up being turned over to the police
All three parties claimed the money as against the true owner

ISSUE
Is there substantial evidence to support the trial court’s finding that the money found by Benjamin was mislaid?

Answer 14

under the common law, property is mislaid when it is intentionally placed or concealed by an owner and later forgotten, and the property belongs to the owner of the premises where the property is found

Circumstances point to the money being left there intentionally
Because the bank owned the plane, they were the locus in quo and had property rights over benjamin

Question 15

what are the two elements of abandmoment with property

Answer 15

1. Intent to relinquish rights
2. Act carrying out that intent

Question 16

what is a bailment

Answer 16

a transfer of possession of an item without transferring title

where someone (a bailee) has possession of another’s personal property, often – but not necessarily– with a contractual relationship governing that possession

Question 17

who is the bailor and who is the bailee

Answer 17

The owner is the BAILOR
The possessor is the bailee

Question 18

how can bailment be voluntary or involuntary

Answer 18

lost/misplaced=involuntary bailment
Giving clothes to dry cleaners = voluntary bailment

Question 19

what is the level of duty of care for bailments

Answer 19

If the bailee solely benefits from possessing the property, the bailee has a duty of EXTRAORDINARY CARE
If a person borrows his friends lawn mower, the person is the bailee who owes the friend a duty of EXTRAORDINARY CARE over the lawn mower

If both the bailee and bailor benefit from the bailment, the bailee has a duty of REASONABLE CARE
Ie the dry cleaning example

If the bailor solely benefits from the bailment, the bailee has a duty of GOOD FAITH so as not to act with gross negligence
If a friend agrees to watch his friends dog for free, the dog owner is solely benefited, so the friend would only owe a duty of good faith in caring for the dog

Question 20

what happens if the bailee of property is a merchant in the busimess

Answer 20

can pass the title of the bailor on to a purchaser who pays value for the item without knowing that it belonged to the bailor

The true owner can’t go and sue the good faith purchasers, but they can sue the store