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7 Cards in this Set
- Front
- Back
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WHO IS ENTITLED TO LOST PROPERTY?
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a) True Owner ha superior title
b) If not found, finder can claim after • 1 yr of reasonable effort made to find owner (< $20) • statutory period (3 mo-3 yrs) if turned over to police & owner doesn't claim |
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WHO IS ENTITLED TO ABANDONED PROPERTY?
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Owner = anyone who finds & takes possession w/ intent to own
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WHEN DOES AN INTER VIVOS GIFT VEST?
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irrevocable if
a) Donative intent, i.e. to part w/ title not just possession b) Valid acceptance (silence usually suffices) c) Delivery of object or something emblematic of object |
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WHEN IS A CHECK DELIVERED AS A GIFT?
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• 1st party checks are delivered when cashed; 3rd party checks endorsed over to donee delivered when turned over
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WHEN IS DELIVERY OF A GIFT BY AGENT ACCOMPLISHED?
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Possession by donor's agent ≠ delivery,
But possession by donee's agent = dely |
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WHEN DOES A GIFT CAUSA MORTIS VEST?
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to be valid, must be
a) Imminent risk of donor's death that is objectively likely to occur b) Donor dies before donee |
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WHAT IS A LIEN?
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a) A debt has arisen from services performed on some thing
b) Title to the thing is in the debtor c) Possession of the thing is in the creditor |
