Business Law (CH 48)

Gif Causa Mortis (941)

A _____ is a git made in contemplation of imminent death. To be effective, it must include 1) intent, 2) delivery, & 3) acceptance.

Gift (939)

A _____ is another fairly common means of acquiring or transferring ownership of property.

Bailment (944)

A _____ is formed by the delivery of personal property, without transfer of title, by one person called the bailor, to another person called the bailee.

Trade Fixture (939)

A _____ is personal property that is installed for a commercial purposes by a tenant.

Bailor (944)

A bailment is formed by the delivery of personal property, without transfer of title, by one person called the _____, to another person called the bailee.

Bailee (944)

A bailment is formed by the delivery of personal property, without transfer of title, by one person called the bailor, to another person called the _____.

Gift Inter Vivos (941)

A gift made during the donor's lifetime is called a _____.

Dominion (940)

An effective delivery also requires that the diner give up control and _____ (ownership rights) over the subject matter of the gift.

Personal Property (936)

Anything owned by an individual, that is not affixed to the land is called, _____.

Fixture (937)

Certain property can become so closely associated with real property to which it is attached that the law views it as real property. Items such as this are known as _____.

Estray Statue (943)

Many states have _____, which encourage and facilitate the reunion of property to its true owner and reward the finder for honesty if the property remains unclaimed.

Chattel (936)

Personal property is sometimes referred to in case law as personalty or _____.

Abandoned Property (944)

Property that has been discarded by the true owner, who has no intention of reclaiming title to it, is _____.

Mislaid Property (943)

Property that has been voluntarily placed somewhere by the owner and then inadvertently forgotten is _____.

Lost Property (943)

Property that is involuntarily left is _____.

Property (936)

_____ consists of the legally protected rights and interests a person has in anything with an ascertainable value that is subject to ownership.

Constructive Delivery (940)

_____ does not confer actual possession of the object in question, only the right to take actual posession.

Confusion (942)

_____ is the commingling (mixing together) of goods to such an extent that one person's personal property cannot be distinguished from another's.

Accession (941)

_____ means "something added." It occurs when someone adds value to an item of personal property by the use of either labor or materials.

Real Property (936)

_____ means the land and everything permanently attached to the structures.