Term
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Definition
Right to Transfer
Right to Exclude
Right to Use
Right to Destroy |
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Term
| 4 ways to classify found property |
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Definition
Lost
Mislaid
Abandoned
Treasure Trove |
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Term
| In "finders", true owner is defined as ____________ |
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Definition
| anyone in prior peaceful possession |
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Term
| When property is lost, property rights vested in _________ |
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Definition
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Term
| When property is mislaid, property rights vested in_________. Why? |
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Definition
| the owner of the locus in quo (the real property underneath where it was found). The true owner is most likely to return to the locus in quo to look for it. |
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Term
| Gold/Silver/legal tender that is so old that the “original owner” could not possibly be alive – has a degree of antiquity to it |
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Definition
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Term
| Property rights to treasure trove vested in __________ |
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Definition
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Term
| · True owner doesn’t want it anymore, and may even be aware of the fact that it was left behind but has relinquished all claims to it |
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Definition
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Term
| Property rights to abandoned property are vested in |
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Definition
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Term
| Difference between found property and discovered property |
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Definition
| discovered property is previously unowned |
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Term
| 5 ways property rights can be gained |
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Definition
| 1) by capture, 2) by find, 3) by discovery, 4) by creation, 5) by gift |
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Term
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Definition
| voluntary transfer of property without consideration |
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Term
| A gift given during life is given _______ |
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Definition
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Term
| Inter vivos gift requires ______, __________, and _________ |
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Definition
| intent, acceptance, delivery |
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Term
| True or False - you cannot promise to give something in the future |
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Definition
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Term
| In gift giving, what are the different types of delivery |
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Definition
| symbolic, constructive, physical |
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Term
| What type of delivery? Handing over the keys to a car, giving the key to a safe deposit box, giving someone the access code to software. |
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Definition
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Term
| What type of delivery? Give someone a picture of a pickup truck that you have bought for them, if there is no other way to convey that you have given ownership |
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Definition
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Term
| What is required for gift causia mortis? |
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Definition
| 1. Given in contemplation of death, 2. Donor must die of the peril contemplated and not something else, 3. Effective only if donor dies |
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Term
| What type of bailment? when the bailor is asking the bailee for a favor – ‘slight’ duty |
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Definition
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Term
| What type of bailment? when the bailee is asking the bailor for a favor – ‘high’ standard of duty |
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Definition
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Term
| What type of bailment? when both parties receive benefit from the bailment – reasonably prudent standard of duty |
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Definition
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