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property_slides_Notes

property_slides_Notes - Business Law I Fall 2007 Property...

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Business Law I Property Law Fall, 2007 PowerPoint Slides Slide 1 ANNOUNCEMENTS Reading for Monday: Text 1011-1016; Cases: 109-113 Please be sure to bring the green map from the course packet to class next Wednesday. Is your cell phone silent? ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 2 Property Law Forms of personal property Bailments and documents of title Forms of real property Rights of real property owners Limitations on property rights Liability of real property owners Acquiring property Forms of property ownership ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 3 Forms of Personal Property Tangible assets Intangible assets Intellectual property Severed real property ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________
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Business Law I Property Law Fall, 2007 PowerPoint Slides Slide 4 Tangible Assets Most obvious form of personal property Major problem area: animals UCC Article 2 goods UCC Article 9 not as clear -- secured transactions ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 5 Intangible Assets Choses in action Rights of ownership Contract rights Usually represented by a document Lease Promissory note Stock certificate Warehouse receipt or bill of lading ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 6 Intellectual Property Patents Trademarks Copyrights Trade secrets ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________
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Business Law I Property Law Fall, 2007 PowerPoint Slides Slide 7 Severed Realty If intentionally severed, becomes personal property Transfer of rights in unsevered real property Timber, oil, gas or minerals Other forms of realty Fructus industriales » Growing crops planted or harvested annually ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 8 Other Personal Property Issues Telephone and cable TV service Living tissue and in vitro fertilization Hecht v. L.A. Superior Court [not in reading] Computers and electronic communication Hardware Software Data and information transmitted See Thyroff v. Nationwide Mutual Insurance Co. eBay v. Bidder’s Edge ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 9 Bailments Temporary transfer of possession of personal property without transfer of title Bailor makes transfer Bailee receives possession ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________
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Business Law I Property Law Fall, 2007 PowerPoint Slides Slide 10 Classification of Bailments For bailor’s sole benefit For bailee’s sole benefit For mutual benefit See Hadfield v. Gilchrist , Case 49-3, text at 1021. ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 11 Essential Elements of Bailment Delivery of possession Personal property Possession but not ownership for a determinable time Restoration of possession to bailor See Cintron v. Santiago , Cases at 116 ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 12 Special Types of Bailments Pledge Warehouser Safe deposit boxes Carrier of goods Innkeeper ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________
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Business Law I Property Law Fall, 2007 PowerPoint Slides Slide 13 Termination Return of property to bailor Terms of agreement Breach of agreement Destruction of property Option of bailor Operation of law ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 14 Bailee Rights Right of possession Benefit of bailee Limited by agreement Benefit of bailor Shaped by agreement Mutual benefit See agreement Right to insure Right to lien?
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