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26 Cards in this Set

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  • Back
Abandoned property
movable property left by the owner with the intent to cease being the owner

- possessed by anyone who takes possession by occupancy
Mislaid property
intentionally placed where the owner can find it again, and forgets

- becomes custody of owner of premises upon which it found
Lost property
owner has involuntarily parted with through neglect, carelessness, or inadvertence

-determined by location of the property when it is found
Treasure Trove
applied to coin or money, gold, silver, bullion, found hidden in the earth or other private places, with the owner being unknown

- belongs to the finder
- no longer recognized (grouped with lost property)
What are the exceptions to the rule that "the finder of lost property is entitled to the property against all the world"?
- a trespasser
- property found in a highly private locus or private place
- employers/employee
- buried articles
What is "possession"?
physical control coupled with an intention to assume dominion over the object
What are the duties of the possessor of mislaid property?
- acts as quasi-bailee
- reasonable means to discover the true owner until a reasonable time or statute of limitations has passed
- exercise of due care from damages
What is a bailment?
relationship created by transfer of possession of item of personal property by one to another for the accomplishment of a certain purpose
What is the standard of care for a bailee?
- reasonable care under all circumstances

- duty to redeliver or account for thing bailed in original form
What actions can a BAILOR bring against BAILEE?
- breach of contract
- tort action for damages
- (trover) conversion
- replevin
What are the BAILEE's rights of action?
- conversion
- action for damages against 3rd party for damage, destruction, interference
- replevin

(full recovery by BAILOR or BAILEE against party bars action by the other)
no title, only possession is given
both title and possession are given
What is a bona fide purchaser?
person who in good faith and without knowledge that sale to him is in violation of ownership rights purchases property in ordinary course from person in business of selling goods
If bona fide purchase does not exist, what may prevent the owner from reasserting title?
a detrimental, but reasonable reliance, on false communication

(equitable estoppel)
What is conversion?
an act or series of acts of wilful interference, without lawful justification, with an item of property in a manner inconsistent with another's right, that deprives another of the use and possession
action for repossession of personal property wrongfully taken or detained by the defendant
recovery of damages for the conversion of personal property, where damages are usually measured by the value of the property
What is tacking?
attach the times of adverse possession to subsequent possessors when possession comes through voluntary or legal transactions
What must be established for an action for adverse possession?
OCEAN Possession:
What is the discovery rule?
time begins when the plaintiff finds the name/location of the wrongdoer, if the plaintiff discovers information with due diligence and within reasonable time of the wrongdoing
delaying the start of statutory period where a potential plaintiff is under disability at time action accrues
What are the elements for a INTER VIVOS gift?
1) donative intent
2) delivery
3) acceptance of the gift
Distinguish a causa mortis gift and a inter vivos gift.
A causa mortis gift is motivated by a fear of imminent death.
What are the elements of a causa mortis gift?
1) mental capacity
2) personal property
3) delivery and acceptance
4) anticipation of death
Must the donor die of the cause feared by the donor to be valid?
No. And the fear of death does not have to reasonable, just a threat to life.