LAW 603 Lecture Notes - Lecture 7: Reinsurance, Subrogation, Moral Hazard
23 Aug 2016
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Document Summary
Personal property: bailment and insurance chapter 17. Acquiring personal property rights: created through intention, or creation. Intention of two parties (e. g. sale or gift) Intention of one party (e. g. finder ): taking possession + intention of controlling: finder generally obtains rights effective against all but true owner. Create entirely new property (e. g. sculpture, copyright) Create new property through old (e. g. calving) Losing personal property rights: lost through intention, or without intention. Intention of one party (e. g. abandonment - intend to give up control) Chattel sufficiently attached to land or building: transforms personal property to real property. Sufficient affixation test: degree of attachment, sitting under its own weight or affixed to ground? (e. g. mobile dishwasher with heels vs. dishwasher screwed in) Would a reasonable person believe it was intended to be a fixture? (e. g. dishwasher installed to enhance value of the apartment)
