Personal Property

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Author:
apgiering
ID:
158596
Filename:
Personal Property
Updated:
2012-06-13 14:17:54
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CT Bar
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  1. What is personal property?
    All property that is not real property.
  2. What are the three types of "found" property?
    • Abandoned property
    • Lost property
    • Mislaid property
  3. Abandoned property
    The owner has voluntarily given up possession with the intent to give up title and control.

    A finder acquires rights in the abandoned property if the finder has possession with the intent to assert title and control.
  4. How does a finder acquire rights in abandoned property?
    Possession whith the intent to assert title and control.
  5. Lost property
    The owner took no voluntary affirmative act in placing the property where it is found -- the owner's parting with the property was accidental.

    The finder wins and the owner or occupier of the land loses.
  6. When does the loser of lost property prevail over the finder?
    • The finder of the lost property is a trespasser
    • The master prevails over the servant who finds
    • If the lost property is found in a highly private locus, a place not open to the public, the owner or occupier of the property will prevail over the finder (a home; a private office)
  7. Mislead property
    Property where the owner has taken some voluntary affirmative act in placing it down, and the owner leaves it behind.

    The owner or occupier of the premises on which the property is found will prevail oer the finder.
  8. What are two types of gifts?
    • Gifts inter vivos
    • Gifts cause mortis
  9. Gift inter vivos
    Gift given in life.
  10. Gift causa mortis
    Gift made in contemplation of death.

    To hav ea valid gift causa mortis the peril the donor faces must be a fair degree of certainty or likelihood of death that is imminent and likely to occur.
  11. When can the donor revoke a gift causa mortis?
    • Donor can, at any time, simply revoke
    • Donee predeceases donor
    • Donor recovers
  12. What are the elements of a gift?
    • Donative intent
    • Valid acceptance
    • Valid delivery
  13. Donative intent
    • Much easier to find when the donor and donee are closely related
    • The intent to pass title now, not necessarily possession
  14. Valid acceptance of a gift
    Implied by silence, the only way not to have acceptance is an explicit rejection.
  15. Valid delivery of a gift
    May be satisfied on the facts.
  16. When is there valid delivery if a donor makes out check to donee or promissory note to donee and gives it to the donee?
    There is no delivery until the check is cashed or the note is paid.
  17. When is there valid delivery if a donor hands a donee a check or note made out to the donor by a third party?
    Valid upon delivery.
  18. When is there valid deliery if a donor hands a donee a stock certificate?
    Valid upon delivery.
  19. When is there valid delivery when a donor gives a donee a gift through a middleman?
    • If the middle man is the donee's agent then there is a valid delivery when donor hands the item to that person
    • If the middle person is the donor's agent than the delivery will not be good until the middle person hands it over to the donee
    • Unclear? Presumption is that agent is donor's unless donee is a child
  20. What are the elements of a bailment?
    • The bailee has taken over custody
    • Of a chattel with intent to serve as bailee
  21. Are safe deposit boxes bailments?
    Generally, yes, even though the bank usually has no idea of what is in the box.
  22. Are parking lots or garages bailees?
    • Gave up keys - bailment
    • Kept keys - not a bailment
  23. What is the standard of care if the bailment is for the sole benefit of the bailor?
    Gross negligence.

    NOTE: Modern trend is to forget special rules and always apply ordinary care.
  24. What is the standard of care if the bailment is for the sole benefit of the bailee?
    Slight negligence.

    NOTE: Modern trend is to forget special rules and always apply ordinary care.
  25. What is the standard of care if the bailment benefits both the bailor and bailee?
    Ordinary care.
  26. When are bailees strictly liable for a bailment?
    • Unauthorized use
    • Misdelivery (exception: misdelivery of a vehicle in a parking lot to someone who shows up with a forged claim check brings no strict liability)
  27. Can the bailee limit liability via exculpatory clause?
    Yes, but cannot limit for gross negligence, recklessness, or intentionally tortious conduct.
  28. What happens to a bailment in the case of the bankruptcy of a consignee?
    Items on consignment are bailments and are not included in the bankruptcy estate of the bailee.

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