Torts 8

Card Set Information

Author:
paul
ID:
20957
Filename:
Torts 8
Updated:
2010-06-10 23:11:33
Tags:
Bonus Topic NY personal property
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Description:
Torts 7 - NY Personal Property (Bonus Topic)
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  1. Abandoned Property
    True owner of property intends to give up both (1) title, and (2) possession
  2. Lost Property
    True owner of property—

    • has involuntarily or inadvertently lost possession of property, but
    • does not intend to give up title or control
  3. Abandoned Property : Finder's Rights
    Finder obtains both possession and title if—

    • He exercises control over the property, with
    • intent to assert ownership
  4. Lost Property: Finder's Rights
    Value < $ 20—Title to found property vests in finder after . . .

    • Finder makes reasonable effort to locate true owner, and
    • True owner does not claim after 1 year

    Value ≥ $ 20—Title to found property vests in finder after . . .

    • Finder turns property over to police
    • Police hold property for statutorily prescribed period
    • True owner does not claim within the prescribed period
    • Finder asks police for property
  5. Absolute Gift : Inter Vivos
    • Donor has donative intent (give up title and possession), and
    • Valid acceptance by donee, and
    • Delivery to donee

    Notes:

    • Acceptance may occur by affirmative act or silence
    • Delivery includes delivery of actual property, or an emblematic representation of the property
  6. Absolute Gift : Causa Mortis
    Gift must be (1) in contemplation of death, and (2) donor's death must be imminent

    • Notes:
    • Donor's death must be objectively likely
    • Donor must die (no gift if donor survives)
    • No gift if donee predeceases donor
  7. Liens : Existence of a Lien
    • Debt relating to performance of services
    • Creditor has possession of item in question
    • Debtor retains title to property
  8. Liens : Types of Liens
    General Lien

    • Creditor can satisfy lien with a variety of property
    • E.g., self-storage warehouses
    • Creditor's return of some property to debtor does not discharge general lien

    • Special Lien
    • Creditor has possession of specific property worked-on
    • E.g., mechanic's lien
    • Creditor's voluntary return of special-lien property extinguishes the lien
  9. Bailment : What is it?
    Occurs when someone takes possession of property for a specific time, and for a specific purpose
  10. Bailment : Bailee's Duties
    Must take reasonable steps to protect the bailed property.

    Bailed property includes:

    • The property itself
    • Ordinary/Expected things inside the bailed property

    Bailed property does not include unusual/unexpected things inside the bailed property, unless the bailed property is a safe-deposit box.

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