LAW 603 Chapter Notes - Chapter 17: Bailment, Consignee, Consignor
27 Nov 2017
School
Department
Course
Professor
Document Summary
Law 603 chapter 17: personal property bailment and insurance. Acquired through the intention of one or more people. Smaller package of rights when you rent. Doesn"t have to be acquired through a contract. Acquiring personal property: purchase through contract with previous owner, gift received from previous owner, first possession of things that were never owner or that were abandoned, finding of lost property, creation of new property. Losing personal property: sale through contract to new owner, gift through intention and delivery to new owner, abandonment with intention to give up rights, fixture of chattel to land or building. Bailment occurs when one person temporarily gives up possession of property with the expectation of getting it back. One person voluntarily delivers property to another, for a particular purpose, and with the intention that the property will be returned or disposed of as directed.
