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BLAW 302 Final > Property > Flashcards

Property Flashcards

1
Q

Bundle of Rights

A
  • Liberty to Use (in any way you want)
  • Right to Exclude (who else can use)
  • Power to Transfer (to sell or give away)
  • Power to Devise or Bequeath (let it so someone in your will)
  • Immunity from Damages (to not have property damaged)
  • Immunity from Expropriation (prevent others from taking it from you)
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2
Q

Limits of Bundle of Rights

A
  • Liberty to use (don’t violate someone’s rights)
  • Right to Exclude (so long as you are not violating anti-discrimination)
  • Power to Transfer (except that laws regulate contractual relationships)
  • Power to Devise and Bequeath (must pay estate taxes and some states require surviving spouse gets property)
  • Immunity from Damage (except some things may impact property and be permitted)
  • Immunity from Expropriation (except the govt can take property (eminent domain or zoning regulations))
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3
Q

Real Property

A

the earth’s crust and all things attached to it

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3
Q

Personal Property

A

anything else

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3
Q

Granite example

A

Existing on the earth’s crust it’s real property, when it is cut up and stored it’s personal, but when placed in the kitchen permanently it is real property

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4
Q

Tangible Property

A

has a physical existence

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5
Q

Intangible Property

A

has no physical existence, value lies in the rights that go with the property, rights that go with the property

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6
Q

Public Property

A

owned by the government, doesn’t mean public access

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7
Q

Private Property

A

owned by an individual, group, corp, or business

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8
Q

Acquiring Ownership

A
  • Production
  • Exchange
  • Possession of Unowned Property
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9
Q

Production

A

a person owns the property she makes unless she has agreed to do the work for another person

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10
Q

Possession of Unowned Property

A
  • Abandoned
  • Lost
  • Mislaid
  • Rule of First Possession
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11
Q

Abandoned

A

owner intentionally placed the property out of possession, intending to relinquish rights

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12
Q

Lost

A

owner did not intend to part from possession, didn’t intentionally relinquish rights to something, original owner has better rights but finder has better rights than anyone else

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13
Q

Mislaid Property

A

owner intentionally place property somewhere but then accidentally left it there, not intending to relinquish ownership

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14
Q

Rule of First Possession

A

can take ownership just by possession if it is truly unowned

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15
Q

Rule of Capture

A

think deer example, have to kill and capture it on your property

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16
Q

Gifts

A

voluntary transfer of property
- donor must intent to make the gift, donee has to intend to receive it, donor must deliver the deed

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17
Q

Bailment

A

an express or implied contract that the bailee has control of the property and a duty to retain it

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18
Q

Bailment (types)

A
  • one party holding property for someone else, for a while, but with a duty to return it (can i borrow…)
  • in business: valet parking, warehouse storage
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19
Q

Standard of Care for Bailment

A
  • if the bailment is “for the benefit of the bailor” then the standard is relatively low
  • if the bailment is “for the benefit of the bailee” then it is much higher
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20
Q

Many bailments are…

A

for mutual benefit of both parties

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21
Q

Adverse Possession

A

a person WRONGFULLY occupies land in an OPEN and NOTORIOUS manner; in a way that is ACTUAL, EXCLUSIVE, and CONTINUOUS.

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22
Q

For Adverse Possession, it must be…

A

continuous for a prescribed period of time (10-20 years) & true owner must take steps within the time to eject possessor or forever lose the right

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23
Q

Fixtures

A

a permanent fixture is personal property that has become attached to or connected to real property in such a way that it ceases being personal and becomes part of the real property

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24
Q

Who do fixtures belong to?

A

the owner of the real property

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25
Q

How do you know if something is a “fixture”?

A
  • Attachment
  • Adaptation
  • Intent
26
Q

Attachment

A

if firmly attached to real property so it cannot be removed without damaging property

27
Q

Adaptation

A

when an item would be of little value except for use with real property

28
Q

Intent

A

judged objectively – by what circumstances indicate was intended not person’s subjective intent

29
Q

Do fixtures transfer?

A

Yes! So if you want to keep something you have to write it into contract under exclusions

30
Q

Easement

A

the right to make certain use of another person’s property

31
Q

Types of Easement

A
  • natural easement (easement by necessity)
  • easement by grant
  • easement by reservation
  • easement by prescription
32
Q

Natural Easement (Easement by Necessity)

A

someone must be allowed to use land he does not own out of necessity (e.g there is no other way to get to the land)

33
Q

Easement by Grant

A

written grant that says the property owner says the other person has the right to use some part of the land in some way

34
Q

Easement by Reservation

A

owner sells the land, but reserves some use of a part of it for themselves

35
Q

Easement by Prescription

A

someone conducts an open, adverse, and continuous use of another person’s land over a long period of time and the owner fails to stop that use (tiny adverse possession)

36
Q

Concurrent Ownerships

A

joint tenants and tenants in common

37
Q

Joint Tenants

A
  • must own equal shares
  • can have rights of survivorship
  • have to use special words to create it
38
Q

Tenants in Common

A
  • can own different shares
  • cannot have right of survivorship
  • no special words needed
39
Q

Agreements dealing with real property must be…

A

written

40
Q

Intellectual Property (4 TYPES)

A
  1. Patents
  2. Trade Secrets
  3. Copyrights
  4. Trademarks
41
Q

Patent

A

an agreement between the inventor and the federal govt that gives the inventor a monopoly for a limited period of time (20 years)
* you must disclose to the patent office & the public the invention and how to make it

42
Q

Patents apply to…

A

processes, machines, manufactured articles, compositions of matter, etc.

43
Q

To be patented, the invention must meet 3 standards:

A
  1. Useful
  2. Novel (New)
  3. Nonobvious
44
Q

Who is the “inventor” who gets the patent?

A

First person to file a patents gets the patent, even if they were not the first to invent (one year grace period from earliest public disclosure)

45
Q

What is not patentable?

A

Abstract ideas & rules of nature

46
Q

Patent Infringement

A

if someone starts making the thing you patented, you can file a lawsuit to get an injunction and damages or negotiate a license and collect royalties

47
Q

Trade Secret

A

any secret formula, pattern, process, program, device, method, technique, or database used in the owner’s business to provide competitive advantage
* must take reasonable measures to secrecy

48
Q

What are you not protected against with a trade secret?

A

Reverse engineering

49
Q

Trade Secret Misappropriation

A

occurs when a person discloses or uses the secret information after acquiring the secret by improper means

50
Q

Improper Means

A

theft, trespass, etc OR through another party who is know to have obtained by improper means OR by breaching a duty of confidentiality

51
Q

Damages for Misappropriation

A
  • amount of actual loss to owner
  • unjust enrichment to the trade secret misappropriater
  • sometimes punitive damages
  • sometimes injunction
52
Q

Copyright

A

wide range of creative material from books and articles, to computer code

53
Q

How do you get copyright coverage for your work?

A

comes into existence automatically upon the creation and fixing of the work

54
Q

Must you register to have copyright?

A

no, but you need to if you want to sue

55
Q

How long does copyright last?

A

life of the creator plus 70 years

56
Q

Work for hire

A

employee creates a copyrightable work within the scope of her employment duties, employer is the author and copyright holder

57
Q

Ownership rights for copyright

A

exclusive rights to reproduce the work, prepare derivative works, and istribute copies for sale or otherwise (they are transferable and licensable

58
Q

Copyright infringement

A
  1. defendant has access to the copyrighted work
  2. defendant engaged in enough copying that the resemblance between the two does not seem coincidental AND
  3. there is a substantial similarity
59
Q

Fair Use Exception

A

ok under some circumstances to copy work for:
- criticism
- news reporting
- teaching, scholarship, research

60
Q

Trademark

A

distinctive mark, motto, device, or emblem that a manufacturer stamps, prints, or affixes to products it produces or services it performs

61
Q

How do you get a trademark?

A

you do not have to register the trademark, can use TM without it but can’t get R without registering

61
Q

How do you lose a trademark?

A

trademark protection or genericide

62
Q

Trademark Infringement

A

someone uses the mark without the owner’s consent, in connection with the sale of goods or services, such that consumers are likely to be confused about the source

63
Q

Trademark Dilution

A

if someone makes use of a famous mark without the owner’s consent, they face liability if their use is likely to cause dilution of the strength of the mark

64
Q

Trademark Dilution (types)

A

blurring - use of same mark by two very different companies that may confuse the public
tarnishing - use of the mark in a way that makes the company look bad

BLAW 302 Final (10 decks)

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