LAW 603 Chapter Notes - Chapter 15,16,17: Bailment
28 Jan 2015
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Types of property real = immoveable things (eg land) personal = moveable things. Types of personal property (page 401) tangible = can be touched (eg cars, cat) intangible = cannot be touched (eg debts, cheque) Rights usually acquired through intention intention of two parties (eg sale) intention of one party (eg finder: property rights are not always acquired through contract: You can get something for nothing; gift. You can acquire property right even if you act alone. Sometimes things have no owner at all; for example an intentionally abandoned bicycle by the side of the road. You can take possession of it with the intention of controlling over it for yourself. (page 401) True finders keepers but not losers weepers . By intentionally taking control of that thing, you will acquire rights that are effective against everyone else except the true owner. (page 402)
