Section #3 Owning Personal Property

Question 1

Chattel:

Answer 1

Tangible personal property

Question 2

The rule of capture

Answer 2

First to take the property has superior rights to it

Question 3

Define possession:

Answer 3

Dominion and control, physical control and intent to exclude others

Question 4

Define ownership: or how do you prove it?

Answer 4

Showing title of transferring from prior owner

Question 5

Popov v. Hayashi case:

Answer 5

Barry Bonds homerun baseball. Did he achieve possession of the ball or did the person attempted to grab the ball have possession? They ruled they both didn’t have possession and needed to split the costs

Question 6

The four categories of “found” chattels

Answer 6

Lost property, mislaid property, abandoned property, treasure trove

Question 7

Define: lost prop

Answer 7

Owner unintentionally and involuntarily parted with chattel

Question 8

Define: mislaid prop

Answer 8

Owner voluntarily and knowingly placed it somewhere but unintentionally forgot it.

Question 9

Abandoned Prop define

Answer 9

Owner knowingly relinquishes all right, title and interest to the chattel.

Question 10

Treasure trove define

Answer 10

Concealed prop in hidden location long ago

Question 11

Gift define

Answer 11

Voluntary immediate transfer of prop rights without payment or consideration.

Question 12

Inter vivos gift: define

Answer 12

Ordinary gift; like a birthday present

Question 13

Remainder:

Answer 13

A future interest in a transferee that is capable of becoming possessory

Question 14

Testamentary Gift:

Answer 14

A gift made by a will that transfers an interest after death

Question 15

Three types of delivery of the gift

Answer 15

Manual delivery, constructive delivery, symbolic delivery

Question 16

Constructive delivery of a gift: define

Answer 16

Donor transfers object that provides access to gifted item

Question 17

Symbolic delivery

Answer 17

Physically transfers to the donee an object that represents a gifted item

Question 18

Gift Causa Mortis:

Answer 18

Gift of personal property upon contemplation of death. If you don’t die during that period the item will not be gifted.

Question 19

Gift causa mortis elements 4

Answer 19

Donative intent, delivery, acceptance, donors anticipation of imminent death.