BUS 393 Lecture Notes - Lecture 8: Bailment, Fee Simple, Interest

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 393
• Professor: Richard Yates

Document Summary

Rights to something, not the thing itself. Person in possession of goods has right to them, unless there is someone with existing title. Person has possession of goods that are owned by someone else. Standard of care: bailor: owner, bailee: person in possession, higher if gratuitous (voluntary) bailment with benefit in favour of bailee, lower if gratuitous bailment with benefit in favour of bailor. Duty for involuntary bailment is level expected of bailee looking after their. Bailment for value: business relationship duty determined by contract or. Common carriers/innkeepers: higher duty imposed to care for goods of: includes airlines, transportation companies, hospitality/accommodation own goods industry standard their customers companies. Unpaid storer or repairer has a lien on goods left in their care. Bailment requires control of goods by bailee. Fixture: personal property can become part of real property when affixed to. Claim of space above and below property limited to what holder can reasonably use: mineral rights retained by crown.