B LAW402 Study Guide - Midterm Guide: Bailment, Replevin, Detinue

• School: University of Alberta
• Department: Business Law
• Course: B LAW402
• Professor: Elaine Geddes

Document Summary

Physical control can"t always be in physical control of something that you own. An example is the property that you own at home. You own it but you do not currently physically possess it. Constructive possession a situation in which someone has actual control over property without actually having physical control of the property. Creation creating something with materials that belong to others generates controversy but usually this is context dependent. Purchase contractual relationship between owner and buyer. Must be an innocent 3rd party that has no knowledge of issues pertaining to the good. Must have paid something of value as consideration does matter. Gift intention to give and is perfected through the transfer of the gift. No consideration is needed but a lot of gifts can be conditional. Creation of a security interest registered interests or liens. Destruction if someone destroys your property you may have the right to sue for replacement.