Personal Property

Question 1

Gaining or Losing Right or Title to Personal Property

Answer 1

acquired by capture, creation, discovery, adverse possession, accession, confusion, and gift; lost by the same methods and by abandonment and fraud

Question 2

Misplaced property

Answer 2

property that reasonably seems to have been intentionally placed in a particular location, but then appears to have been forgotten.
The finder of misplaced property does not obtain possession of the property, and the finder’s right to the misplaced property falls after that of the original owner and the owner of the property on which the misplaced item was found.

Question 3

Capture of unowned property

Answer 3

• Possession—animals become possessions when an individual manifests the intent to own the animal by exercising actual or constructive dominion or control; the owner does not lose title to an escaped animal if the owner makes efforts to recapture the animal
• Trespass—a trespasser who captures an animal forfeits his property rights to the landowner
• Violating a statute—a person who traps or captures an animal in violation of a statute loses ownership of the animal

Question 4

Bailment

Answer 4

created when a chattel is lawfully delivered by or with the permission of its owner (the bailor) to a person (the bailee) who accepts possession of the chattel;” title is not transferred to the bailee, only possession
the bailee must (i) physically possess the property with the intent to exercise control over it, (ii) consent to the bailment, and (iii) be aware that the article exists

Question 5

Quasi-bailment

Answer 5

when a person comes into possession of chattel and exercises physical control over it (no delivery by or permission of the owner)

Question 5

Consignment

Answer 5

the bailor gives goods to a bailee who is authorized to sell the goods for the bailor (consignor); special bailments for the sole purpose of a sale 2. Pledge—the bailor gives a bailee goods as security for the performance of an obligation that the bailor owes to the bailee

Question 5

Bailee’s standard of care

Answer 5

1. Slight diligence—the bailment is solely for the benefit of the bailor (i.e., the bailee is not compensated); if the bailee acts with gross negligence, he will be liable
2. Ordinary care—applies when there is mutual benefit for the bailor and bailee
3. Great diligence—applies when the bailment is solely for the benefit of the bailee (i.e., a gratuitous loan); the bailee is liable for slight negligence
4. Absolute liability—bailees are absolutely liable if they stray from conditions of the bailment; if the bailee delivers the goods to the wrong party, the bailee is strictly liable for conversion