ADMN 3250H Lecture Notes - Lecture 6: Bailment, Franchising, Fee Simple
30 Mar 2020
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Entitlement enforced by courts: by virtue of the jurisdictional authority bestowed on citizens, by virtue of birth bestowed by nature in creating you as a person. Reflects mutual protections and non-interference with others" rights. The right to possession to the exclusion of others. We divide property in to two major categories. Personal property chattels everything else. The type of property will determine how it is dealt with. One is very hard to deal with. Ideas: art, songs, books, poems, paintings. sculpture, software, apps, patches, functions. Right of repossession at expiry or upon terms of breach. Expectation of depreciation: can still be based in appreciating assets real property. Often used as a form of financing. Allow possession and use of property in exchange for a percentage of the income or a flat fee. Examples of licences: franchises, creation of goods for resale, t-shirts posters, software, music, movies, books.
