W5 Flashcards
a finder is a ___
bailee of the rightful owner, with a duty to care for the found item
Four categories of “found” chattels:
- LOST PROPERTY
- MISLAID PROPERTY
- ABANDONED PROPERTY
- TREASURE TROVE
what is lost property
property is lost when the owner unintentionally and involuntarily parts with it
lost property generally goes to _______
the finder unless the find is made at an owner-occupied residence
what is mislaid property
property is mislaid when the owner voluntarily and knowingly places it somewhere, but then unintentionally forgets it.
mislad property usually belongs to _______
the possessor of the place where the item is found
what is abandoned property
property is abandoned when the owner knwoingly relinquishes all right, title and interest to it.
abandoned property generally goes to _______
the finder unless the find is made at an owner-occupied residence.
what is treasure trove
NOTE: treasure trove is usually limited to gold, silver, coins, or currency
property is treasure trove when the owner concealed it in a hidden location long ago
Armory v. Delamirie
FACTS & HOLDING
FACTS:
chimney sweepers son finds a jewel and carried it to ∆ (goldsmith) shop to know what it was, owner wants it back
HOLDING:
a finder’s property interest gives him property against everyone except the rightful owner
adverse possession of chattels timeframe is ______
usually shorter than land because the law believes that chattels are less valuable than land
chattel definition
movable good. all property except real property
personal property definition
tangible personal property consists of movable items such as brooches, paintings, and wallets
bailment definition
the rightful possession of goods by one who is not the true owner
elements of adverse possession of chattel
(same as for adverse possession of land)
actual
exclusive
open and notorious
hostile
continuous for the statutory period.
replevin definition
a CL action to recover possession
trover definition
a CL action to recover damages without recovery of possession
what is the discovery rule (o’keefe)
- shifts the emphasis from the conduct of the possessor to the conduct of the owner.
- the focus of the inquiry will no longer be whether the possessor has met the tests of adverse possession, but whether the owner has acted with due diligence in pursuing their personal property
good faith purchaser definition
one who gives valuable consideration for an item without knowledge of adverse claims
title to personal property may be obtained by adverse possession.
what is the limitations period for recovery of such property?
generally 2 to 6 years shorter than the period for real property
when does the limitations for adverse possession of title to personal property begin
when the adverse claimant’s possession becomes open and notorious
can a thief transfer valid title to a good faith purchase?
not unless the thief gains a new title by adverse possession.
O’Keeffe v. snyder
facts & holding
facts: π artist sought to recover 3 paintings from ∆s gallery that she allegedly owned and were stolen from her. ∆ asserted he had taken title of the paintings by adverse possession
holding: discovery rule is a more satisfactory response than the doctrine of adverse possession.
gift definition
a gift is the immediate transfer of property rights from the donor (the person making the gift) to the donee (the person receiving the gift) without any payment or other consideration
two kinds of gifts
intervivos gift & gift causa mortis
what is an inter vivo gift
an intervivos gift is made from one living person to another.
what are the three elements to a valid inter vivos gift
DONATIVE INTENT
-donor intends to make an immediate transfer of property usually established by the donor’s words
DELIVERY
- the property must be delivered to the donee, so that the donor parts with dominion and control. this is essential. without delivery there is no gift.
ACCEPTANCE
- donee must accept the property – although acceptance of a valuable item is usually presumed.
three kinds of delivery
MANUAL (favored unless not reasonable feasible under the circumstances)
- physically turning over the property
CONSTRUCTIVE
- giving the donee the means to obtain physical possession
SYMBOLIC
- involves delivering something in place of the gift that represents the gift.
can an intervivos gift be revoked
generally, an inter vivid gift cannot be revoked.
what is a gift causa mortis
a gift causa mortis is a kind of conditional gift made in contemplation of the donors imminent death
elements of gift causes mortis
donative intent
delivery
acceptance
(above three are same as intervivos)
donor’s anticipation of imminent death
4 types of intellectual property
- COPYRIGHTS
- PATENTS
- TRADEMARK
- TRADE SECRETS
what does copyright law protect and what is the time term of a copyright (2)
copyright law protects original works of authorship
life of the author = + 70 years
work for hire = 95 years from the date of publication or 120 years from date of creation whichever comes first
what does patent law protect
patent law protects new inventions, such as cell lines, machines, and medicines
what does trademark law protect
trademark law protects words, names, and other symbols which are used by merchants to distinguish their goods and services from those offered by others
what does trade secret law protect
valuable information that is not generally known or readily ascertainable by others
