Personal Property

Question 1

abandoned property

Answer 1

personal property is abandoned if the owner has voluntarily given up possession with the intent to give up title and control

a finder gains rights in abandoned property if the finder has possession with intent to assert title and control

Question 2

lost property

Answer 2

found property where the owner took no voluntary affirmative act in placing the property where it s found. the finder has superior rights over all others, aside from the true owner

Question 3

mislaid property

Answer 3

property where the owner has taken some voluntary act in placing the item but the owner leaves it behind. The owner of the premises where the property is found has superior rights against all others but the true owner

Question 4

exceptions to rule that finder keeps lost property

Answer 4

if finder is a trespasser, owner or occupier prevails

master prevails over servant that finds

if lost property is found in a highly private locus (someone’s home or private office), then the owner/occupier of the property will prevail over the finder

Question 5

inter vivos gift

Answer 5

requires donative intent, valid delivery, and valid acceptance.

donative intent means intent to pass title now and is fairly presumptive when donee and donor are closely related

acceptance is implied by silence - only lack acceptance if there is explicit rejection

delivery may be obvious - handing someone item, and if donee already has possession of gift when gift is made, donor handing over something representing the gift

Question 6

gift of check or promissory note

Answer 6

no delivery until check is cashed or note is paid, but check or note made out by third party is valid delivery even if donor hasn’t indorsed check or note

Question 7

gift of stock

Answer 7

donor hands donee stock certificate, valid delivery even fi donor hasn’t indorsed stock or told corporation of transfer

Question 8

gifts transferred by third party

Answer 8

if middle person is donee’s agent, valid delivery when donor hands item to agent

if middle person is donor’s agent, delivery is not valid until middle person receives gift

if donee is a minor, construe middle person as their agent if in doubt. otherwise, construe agent as being donor’s if unclear

Question 9

gifts causa mortis

Answer 9

donor must be facing a fair degree of certainty or likelihood of death that is imminent and likely to occur

Question 10

revocation of gift causa mortis

Answer 10

revoked if donor revokes, if donee predeceases donor, donor recovers

Question 11

bailment

Answer 11

you have bailment when alleged bailee has taken custody of chattel with intent to serve as bailee. to have bailment, must be aware/should have been aware of item. so would have bailment over like a spare tire in the trunk of a car but not over diamond earrings in a coat pocket

Question 12

safe deposit boxes

Answer 12

regarded as bailment, even though the bank has no idea what’s in the box

Question 13

bailment in parking garages and lots

Answer 13

bailment if the owner of the car gives up the keys of the car to the garage (like valet) but not if the driver keeps the keys

Question 14

bailment for sole benefit of the bailor

Answer 14

bailee will only be liable for gross negligence

Question 15

bailment for sole benefit of bailee

Answer 15

bailee is liable for even slight negligence

Question 16

bailment for mutual benefit of bailor and bailee

Answer 16

standard is ordinary care, so bailee is liable for ordinary negligence.

Question 17

strict liability for bailees

Answer 17

bailees are strictly liable for damages that occur during unauthorized use of the chattel

bailees are strictly liable if they misdeliver chattel, even to someone using a forged signature. though, misdelivery of a vehicle in a garage to someone who shows up with a forged claim check brings no strict liability

Question 18

exculpatory clauses

Answer 18

where bailee tries to limit liability for damage to chattel

bailee can limit liability for ordinary negligence so long as bailor received effective notice of limitation. but if bailee engages in conduct with gross negligence, recklessness, or intent, will not be held blameless

Question 19

bailments and bankruptcy

Answer 19

bailed items held by bailee cannot be included in bankruptcy estate of bailee as they remain the property of the bailor

Question 20

items on consignment

Answer 20

these items are bailed

Question 21

common carrier

Answer 21

common carrier is one who undertakes for hire to transport persons or goods from place to place.

must be holding out to perform service to all who apply, carriage must be for hire, service must be for carriage.

common carrier is an insurer of goods given by shipper and is liable for any damage or loss, with some exceptions

Question 22

exceptions to common carrier liability

Answer 22

where goods are damaged or destroyed by act of god

where goods are damaged or destroyed by fault of shipper

where goods are damaged or destroyed because goods are perishable and nature took its course

Question 23

adverse possession

Answer 23

title to property by adverse possession results from running of statute of limitations after which presumption that person in possession has rights to possess cannot be overcome. statute of limitations is 5 years. possession must be actual, open and notorious, hostile, under claim of right, and exclusive and continuous

Question 24

rights and duties of possessor of lost or mislaid property

Answer 24

they become quasi-bailee for true owner, with duty to find true owner if known or reasonably discoverable and a duty of due care. these persist until abandonment arises or the statute of limitations passes.

Question 25

treasure trove

Answer 25

common law view was finder keeps, even if he is a trespasser, but modern view s that it is treated as any other lost property