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18 Cards in this Set
- Front
- Back
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Bailee |
The person who receives possession in a bailment.
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Bailment |
Temporary transfer of possession of personal property from one person to another.
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Bailment for Value |
Bailment involving payment or compensation
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Bailor |
The owner of property who transfers possession in bailment |
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Bundle of Rights |
The set of legal rights associated with the property, which usually includes the right to exclude, the right to possess and use, and the right to transfer to others or dispose of property. |
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Carrier |
A bailee who transports personal property |
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Easement |
The right to use the land of another for a particular purpose only. |
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Gratuitous Bailment |
Bailment that involves no payment |
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Innkeeper |
Someone who offers to lodge to the public |
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Intangible Property |
Personal property, the value of which comes from legal rights. |
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Lease |
A contract that transfers possession of land or personal property in exchange for a fee. |
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Licence |
Consent given by the owner of rights to someone to do something that only the owner can do. |
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Lien |
The right to retain possession of the personal property until payment for service is received. |
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Personal Property |
All property, other than land and what is attaches to it |
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Real Property |
Land and whatever is permanently affixed to it or part of it, such as buildings, mines, and minerals and the legal rights associated with those things. |
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Tangible Property |
Personal property that is mobile, the value of which comes from its physical form. |
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Trust |
A legal arrangement that is characterized by one party holding legal title of property for the benefit of someone else |
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Warehouseman |
A bailee who stores personal property |
