CHAPTER 47 - J Duong Commercial Law CHAPTER 47 PERSONAL...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
J. Duong Commercial Law CHAPTER 47 PERSONAL PROPERTY AND BAILMENTS I. Fixtures A. Introduction 1. Property - Consist of the legally protected rights and interest a person had with anything of value that is subject to ownership 2. Real Property - The land and everything attached to it 3. Personal Property - Everything else besides Realty 4. Fixtures - Personal Property so closely associated with real property to which it is attached that the law view it as real property. Fixtures are real property! a. Land Sales b. Insurance Coverage c. Real Property taxation d. Divorces 5. When the courts need to determine if something is a fixture or not, they would look at the Role of Intent who placed the object on real property B. The Role of Intent 1. General Rule : If the person intends to make the item a fixture, then it is a fixture. Intent base on: a. If the property attached cannot be removed without seriously damaging the realty, then it is a fixture b. If the property attached is so adapted to the rest of the realty as to become part of it, it is a fixture. (Property made for the realty) C. Trade Fixtures 1. Trade Fixtures - Exception to the rule that fixtures are part of the realty a.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern