Management and Organizational Studies 2275A/B Lecture Notes - Lecture 6: Personal Property, Bailment, Air Canada

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Property a relationship between people with respect to things. You don"t have all the right to your house neighbours, bank, police, guests/trespassers, union gas, canada post, london hydro, air canada, federal government, etc. Once you describe the rights these people do and do not have with respect to the house, you have defined the property. Property can be divided into real property and personal property: real property land and anything attached to it, personal property anything that isn"t real property. The more permanent the attachment, the more likely it is to be real property. Personal property can be divided into tangible (goods) and intangible. If you find something you have the best claim to it, except against the true owner. If you find something on private property it is not yours, because private property is not publicly accessible. Bailment: owner of the goods is the bailor, possessor of the goods is the bailee.