Management and Organizational Studies 2275A/B Chapter 1-3: Bus Law Final Exam Textbook Notes

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

Document Summary

Property law consists of rules and laws that govern our relationship with things that can be owned. Broader than physical things that can be held and touched. One of the roles of property law is to determine what counts as property and thus can be owned. Properly law also enables owners to protect their rights in relation to their property. Real property: land and whatever is permanently af xed to it or part of it, such as buildings, mines, and minerals and the legal rights associated with those things. Personal property: all property, other than land and what is attached to it. Tangible property: personal property that is mobile, the value of which comes from its physical form. Intangible property: personal property, the value of which comes from legal rights. Ex. insurance policies, accounts receivable, bank accounts, intellectual property, etc. No comprehensive system for publicly registering title to personal property as there is with real property.