Misc Property

Question 1

What is abandoned property?

Answer 1

Owner surrenders possession with intent to relinquish title and control

Next person to desire ownership gets it

Question 2

What is lost property?

Answer 2

Owner accidentally parts with possession without intent to relinquish title and control

True owner has superior claim to all others

$20: police hold 3 years, then owns

Question 3

What are the elements of making an intervivos gift (made whilst alive)?

Answer 3

1. Donative intent
2. Acceptance of gift by donee
3. Valid delivery

Question 4

What are elements of Gifts cause mortis (imminent death)

Answer 4

1. Imminent risk of death to donor
2. Likely to occur
3. Donor aware of risk
4. Gift negated if:
   (a) donee dies first
   (b) donor lives

Question 5

What is the definition of a lien?

Answer 5

Right to continue to possess someone else’s property where that property improved by possessor, or possessor rendered services in connection with that property, until property owner satisfies all associated financial obligations

Question 6

What are the elements of a lien?

Answer 6

1. Contractual obligation to pay debt
2. Debtor has ownership of or title to property
3. Creditor has possession of property and acted upon it in some way

Question 7

What is a general lien?

Answer 7

Right to retain all property for general balance due

Eg, self storage facility (releasing one does not discharge lien)

Question 8

What is a specific lien?

Answer 8

Right to retain specific property to secure particular charge in connection with that specific property
Eg, paid for particular items at dry cleaner

Question 9

What is bailment?

Answer 9

Giving someone else possession of personal property while retaining title

Question 10

What about garage holding your car with belongings in trunk?

Answer 10

Garage is bailee if contents of trunk are normally there

Question 11

What about bank holding your safe deposit box?

Answer 11

Bank is bailee of everything inside

Question 12

What’s the Bailee’s duty of care?

Answer 12

1. General reasonable prudence
2. Strict liability for damage to property if used beyond scope of bailment
3. Strict liability for misdelivery of item unless wrong person presents claim check

Question 13

Can you limit bailee liability in NY by contract?

Answer 13

Can limit it but not entirely disclaim.