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25 Cards in this Set
- Front
- Back
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What is abandoned property?
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Owner has voluntarily given up possession with the intent to give up title and control.
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When has a finder acquired rights in abandoned property?
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If the finder has possession with the intent to assert title and control.
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What is lost property?
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Property lost through no voluntary affirmative act by the owner.
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What is mislaid property?
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Property lost through an affirmative act by the owner in placing it down, and the owner leaves it behind.
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Who gets mislaid property?
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Owner/occupier of the premises where it is found.
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Who gets lost property?
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The finder gets the lost property unless:
-Finder is a trespasser -Finder is a servant acting in role, or -Property was found in a highly private locus (home or private office) |
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What are the requirements to transfer a gift inter vivos?
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Donative intent + valid delivery + valid acceptance
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When is delivery if donor makes out a check to donee?
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When cashed/paid. Unless it is a third party's instrument, in which case delivery is now (even if donor doesn't endorse the check).
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When is delivery of a gift of a stock certificate?
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When handed to donee.
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When is delivery if donor uses a middle man to convey the gift?
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If the middle man is donor's agent, it is when handed to donee. If the middle man is donee's agent, it is as soon as the middle man gets it.
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What is a gift causa mortis?
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A gift made in contemplation of death.
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What type of danger is necessary for a gift causa mortis?
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Peril faced must be to a fair degree of certainty that death is imminent and likely to occur.
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When can a causa mortis gift be revoked?
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-At any time by donor.
-If donee predeceases donor. -If donor recovers. |
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What happens to a gift causa mortis if the donor dies?
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The gift transfers to donee, even if donor died for some different reason that the peril that gave rise to the gift.
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What is a bailment?
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Bailee takes custody of a chattel with intent to serve as bailee.
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Is a safe deposit box bailed?
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Yes, even though the bank doesn't know what is in the box.
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When is a car bailed by a parking garage?
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Only if the keys have been given up.
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What's the liability standard if the bailor is the one benefiting?
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Gross negligence.
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What's the liability standard if the bailee is the one benefiting?
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Even slight negligence is enough.
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What is the liability standard if both bailor and bailee are benefiting?
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Ordinary care.
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When is there strict liability for a bailment?
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For unauthorized use or mis-delivery (except for vehicles in a parking lot).
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What type of bailment liability can be limited by an exculpatory clause.
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Ordinary negligence only (no limited liability for gross negligence, recklessness, or intentional conduct). *Bailor must have received effective notice of the limitation.*
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Are items on consignment bailed?
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Yes, and they cannot be included in a bankruptcy estate of the bailee.
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What is a common carrier?
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One who undertakes *for hire* to *transport* persons/goods *for all who apply* from place to place.
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A common carrier is considered the insurer of the items unless there is ___?
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An act of god, faulty packaging by shipper, or perishable goods and nature took its course.
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