Shared Flashcard Set

Details

Law Student
Property
22
Law
Professional
10/27/2009

Additional Law Flashcards

 


 

Cards

Term
Bundle of Sticks
Definition
Right to Transfer
Right to Exclude
Right to Use
Right to Destroy
Term
4 ways to classify found property
Definition
Lost
Mislaid
Abandoned
Treasure Trove
Term
In "finders", true owner is defined as ____________
Definition
anyone in prior peaceful possession
Term
When property is lost, property rights vested in _________
Definition
finder
Term
When property is mislaid, property rights vested in_________. Why?
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.
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
Definition
Treasure Trove
Term
Property rights to treasure trove vested in __________
Definition
finder
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
Definition
Abandoned Property
Term
Property rights to abandoned property are vested in
Definition
finder
Term
Difference between found property and discovered property
Definition
discovered property is previously unowned
Term
5 ways property rights can be gained
Definition
1) by capture, 2) by find, 3) by discovery, 4) by creation, 5) by gift
Term
Definition of a gift
Definition
voluntary transfer of property without consideration
Term
A gift given during life is given _______
Definition
inter vivos
Term
Inter vivos gift requires ______, __________, and _________
Definition
intent, acceptance, delivery
Term
True or False - you cannot promise to give something in the future
Definition
True
Term
In gift giving, what are the different types of delivery
Definition
symbolic, constructive, physical
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.
Definition
Constructive
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
Definition
Symbolic
Term
What is required for gift causia mortis?
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
Term
What type of bailment? when the bailor is asking the bailee for a favor – ‘slight’ duty
Definition
Gratuitous
Term
What type of bailment? when the bailee is asking the bailor for a favor – ‘high’ standard of duty
Definition
non-gratuitous
Term
What type of bailment? when both parties receive benefit from the bailment – reasonably prudent standard of duty
Definition
mutually beneficial
Supporting users have an ad free experience!