chapter 8 study guide business & personal law

what is the difference between abandoned misplaced or lost?

abandoned you can keep. misplaced- know who the person was, no right to keep it. lost- no idea who the owner is, try to seek out owner. over time right to keep it.

how is a bailment created?

when you give your property to someone else and you expect it back.

what are some methods of acquiring ownership of personal property?

gifting, inheritance,buying it

what is intellectual property and what are some types of intellectual property?

intangible property, trade secrets, patent,

what duties does a hotel keeper have?

keep you safe, minimum standard of comfort, guarantee the right of privacy.

how long is a patent granted for? copy righted material? trademark?

patent= 20 years copyright=life of the author/songwriter + 70 years after they die. trademark=10 years

what is the difference between personal property, real property, and fixtures?

personal property- everything other than real property that can be owned. real property- land and anything connected to it including the earth below and the air above. fixtures- something permanently attached to the land.

what are some of the responsibilities of common carriers?

provide transportation to the common public, can not turn people away who ask for their services. example- taxi,subway,bus

what are principal types of bailments?

special gratuitous mutual benefit tortious- hold property wrongfully

what are some types of personal property?

tangible property- property that has substance and can be touched. (CD players, vehicles, food) intangible property- original work fixed in a tangible medium of expression

what are the different forms of co-ownership of personal property?

tenants in common, joined tenants, community property

the title of stolen goods belongs to whom?

the person who rightfully owns it. original owner.