AFM231 Lecture Notes - Lecture 23: Bailment, Personal Property, Intangible Property

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Darren Charters

Document Summary

Section 1: answer 5 of 9 (each marks each for total of 30) Section 2: answer 10 multiple choice (2 each for total of 20 marks) Section 3: answer 5 of 8 (three each for total of 15 marks) Section 4: 3 scenarios answer each one (5 each for a total of 15 marks) Everything from the midterm is on the exam. Renting a car or a tool, storing something on your property for someone else, borrowing a library book, getting your clothes dry cleaned. Recognize that intangible property is different from intellectual property. Contractual rights are a form of contractual personal property. If someone is coming to your place everyday and buying food and drinks and you just keep a running tab then they contractually owe you personal property. Personal property does not have a general registry" system that records ownership and other interests. Personal property does have a registry" system that records security interests in personal property.