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February 2013 Midterm Marking Guideline.docx

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Business Law
B LAW402
Elaine Geddes

BLAW 402 Midterm Marking Guideline February 2013 The mark that you received on your exam is based on the overall quality of your answer. There were a number of things I looked for specifically but there were not points assigned one for one to all elements of the answer. The following are a list of things you could have said about each question but you did not necessarily get a point for saying each of them. Tick marks on your paper are to help me keep track but are not the same as the mark you got. I did also take into account an exceptional performance on one area of the answer and gave you a little extra for that. Question One 1. Jack appears to be the original owner of the ring although we do not know how he obtained it. 2. Jack transfers ownership of the ring to Jill through a gift 3. The requirements for a gift are that the giver show an absolute intention to give the gift and the gift is perfected through the actual physical transfer of possession 4. Jill now has all the rights of an owner and can do whatever she likes with the ring 5. When Jill throws the ring away and says she never wants to see it again, she is abandoning the ring and abandoning her legal rights to it 6. It is possible to suggest that she lacked the appropriate intent to abandon as she was drunk 7. It is possible to also argue that the ring was not a regular gift but a gift conditional upon marriage 8. The normal rule is that engagement rings are given in contemplation of marriage and if the marriage is called off, the person who broke it off gives up the right to the ring. 9. In this case, Jill called off the engagement and thus the ownership of the ring reverts to Jack. 10. Normally, the finder of an item has a greater right to that item than all the world except the true owner. 11. When something is found on private property, the property owner has superior rights unless the property is generally open to public access. 12. Katie found the ring on an area of the field that was open to public access and thus as the finder, she has the best right to the ring except the true owner. 13. If Jill had the right to the ring and she abandoned it, then the finder would have complete rights to the ring as abandoned property is open to claim by the first person who wants it. 14. If the ring belonged to Jack, then he still has superior rights to Katie and he should get the ring back and the official did the right thing by giving it to him. 15. If the ring belonged to Katie, then the official has committed an act of detinue by taking it away from her and holding it when she had the superior right to possession. 16. Giving it back to Jack would in this case be an act of conversion by the official in contravention of Katie’s rights as an owner. 17. Little children can have enforceable rights as property holders and they are as entitled to property as anyone else. 18. Jack is entitled to sell or pawn the ring if he is the true owner and by this transaction the pawnshop has a valid title to the property and does not have to give it back to anyone or be liable to anyone. 19. If Jack had no right to the ring, it is still possible that the pawnshop acted reasonably and bought in good faith and may have obtained good title. 20. If the pawnshop has good title, then the only recourse that Katie has is to sue the league official or Jack for conversion and receive damages. Question Two 1. Alease agreement exists anytime there is a transfer of exclusive quiet possession of land for a determined period of time with no tran
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