2018 BUS607 Week 6 Discussion 2.docx

Example of a chattel is a furnace which can be

Info icon This preview shows pages 1–3. Sign up to view the full content.

example of a chattel is a furnace, which can be affixed to land and become part of the  real property. Such chattels are called fixtures. Fixtures retain their quality as separate  personal property. For example, at the end of a lease term, the tenant generally has the  right to remove fixtures installed even though the rights to the real property end with the  ending of the lease. Intangibles are all kinds of personal property that are not tangible,  that cannot be seen or touched. Therefore, you can say this kind of property does not  involve a “thing” at all; it involves only a legal right. The mere existence of such a  category of property is a reminder that, in the law, property most accurately refers to  legal rights, not to things. A person can own all sorts of intangible “things,” including the 
Image of page 1

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

following: Bank accounts, Franchises and licenses, and Insurance policies. A person  can also own intellectual property such as patents, copyrights, trademarks, stocks,  bonds, promissory notes, and similar documents that are not themselves valuable but  merely represent intangible rights. Currency is treated as an intangible personal 
Image of page 2
Image of page 3
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