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Land and property that is permanently attached to it (buildings, trees, soil, minerals, timber, plants, air, light, water
Personal property that has become so affixed to the land that it has ceased being personal property
Rights that cannot be reduced to physical form ie trademarks, copyrights, stocks, etc.
When fungible goods are commingled - take in proportion to the amount of goods contributed
When value of property increases BECASUE it is added to or improved by natural or manufactured means
if improvement can be easily separated, improver must remove and pay for damages.
Gifts of Personal Property
A culuntary transfer of TITLE to property without consideration by the donee
Causa Mortis Gifts
Gifts made in contemplation of death, irrevocable if 1) made incontemplation of impending death and 2) donor dies from the sickness without having revoked the gift
1)voluntarily placed 2)forgotten
- Owner entitled to return, owner of property where mislaid becomes bailee
1) involuntarily left
- finder of the property entitled to possession against everyone except the true owner
Permitts finder of mislaid or lost property to take title to property if 1) reported to gov agency 2) found property is advertised 3) time elapses for true owner to claim it
1) intentionally abandoned or 2) owner of mislaid property gives up subsequet efforts to find
- finders entitled to title even against owner
Delivery of personal property to another without transfer of title for a particular purpose ie for storage, transportation, repair, etc
Elements of Bailment
1) must be personal property 2) delivery and possession - bailee has exclusive control and knowingly receives 3) in writing if for more than one year
Benefit of bailor
for the sole benefit of the bailor, no consideration paid, bailee owes slight duryt of care
mutual benefit for bailor and bailee
owes duty to reasonably protect property, most common type that often involves payment for some form of storage
- store property for compensation
- owes duty of reasonable care
- Only liable for losses due to their own negligence
- warehouse receipt for the documenting of items stored and purposes of placing a lien
-offer transportation services to public
- held to duty of strict liability, except for extenuating circumstances
- can limit their liability to a limited dollar amount
- Bill of lading is their form of warehouse receipt
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