Ch17_3e - 17-1Copyright 2007 by Nelson, a division of...

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Unformatted text preview: 17-1Copyright 2007 by Nelson, a division of Thomson Canada Limited.CANADIAN BUSINESS CANADIAN BUSINESS AND THE LAWAND THE LAWThird EditionThird EditionbybyDorothy Duplessis Steven Enman Shannon OByrne Sally GunzPresentation prepared by Presentation prepared by Allan Elliott, Southern Alberta Institute of TechnologyAllan Elliott, Southern Alberta Institute of Technology17-2Copyright 2007 by Nelson, a division of Thomson Canada Limited.CHAPTER SEVENTEENCHAPTER SEVENTEENPERSONAL PROPERTYPERSONAL PROPERTYOBJECTIVES:The different forms of propertyHow ownership and possession of property are acquiredThe obligations and rights associated with propertyThe nature of the bailment relationshipVarious types of bailment for reward17-3Copyright 2007 by Nelson, a division of Thomson Canada Limited.PERSONAL PROPERTYPERSONAL PROPERTYOVERVIEW OF PERSONAL PROPERTYpersonal property all property, other than land and what is attached to land, that can be identified by its mobilitytangible property personal property, the value of which comes from its physical formintangible property personal property, the value of which comes from legal rights17-4Copyright 2007 by Nelson, a division of Thomson Canada Limited.ACQUISITION OF OWNERSHIPACQUISITION OF OWNERSHIPOWNERSHIP OF PROPERTY IS ACQUIRED BY:purchasing or leasing landpurchasing or manufacturing goodsinsurance coverage gives the customer the right to recover losses in specified circumstancesaccounts receivables are created by delivering goods or services for payment at a later datecertain intellectual property is owned as a result of being created17-5Copyright 2007 by Nelson, a division of Thomson Canada Limited.RIGHTS ARISING FROM RIGHTS ARISING FROM OWNERSHIP AND POSSESSIONOWNERSHIP AND POSSESSIONOWNER IN POSSESSION MAY:sell the property and transfer ownership and possession to the buyerlease the property with the intent of...
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This note was uploaded on 12/19/2010 for the course AFM 231 taught by Professor Briggs during the Winter '09 term at Waterloo.

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Ch17_3e - 17-1Copyright 2007 by Nelson, a division of...

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