INTRO - Other Personal Property Rules

Question 1

What is a bailment

What Standard is a bailees’s duty of care?

Answer 1

A bailment is the rightful possession of a chattel by someone other than the owner. Example A Borrows B’s book.

Bailee’s duty of care is governed by ordinary negligence standard

If a bailee delivers chattel to wrong person usually held to strict liability.

Question 2

What is real property and personal property?

Answer 2

Real property consists of the land and everything attached to it.

Personal property is movable.

Question 3

What is adverse possession?

What are the elements?

Answer 3

Possession of a chattel that is owned by another.

1. Actual
2. Adverse
3. Hostile
4. Exclusive
   5 Open and Notorious
5. Continuous for requisite time to obtain title.

Question 4

What is a trademark?

How do you protect it?

Answer 4

A trademark is a word, name, symbol, or device used to identify and distinguish the products of a particular manufacturer or retailer.

Trademark protection is obtained by registering the mark with a federal agency and using it in interstate commerce.

Question 5

What is alienation?

Answer 5

The process of a property owner voluntarily giving or selling the title or their property to another property.

or

Simply an act whereby one man transfers the property and possession of lands to another.

Question 6

What is intangible personal property?

Answer 6

Represents a set of rights and interest but has no real physical existence.

Bonds, Patents, copyrights.

Question 7

Does a person own land?

Answer 7

No, they own certain legally enforceable rights concerning the land.

In the form of and estate or future interest.

Question 8

What is Accession?

Answer 8

one who in good faith applies labor to another’s property acquires title to the resulting project if this process

1. Transforms the original item into a fundamentally different article
   or
2. greatly increases the value of the item.