Management and Organizational Studies 2275A/B Chapter Notes - Chapter 17: High High, Intangible Property, Personal Property

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Introduction to property law: property law consists of rules and laws that govern our relationship with things that can be owned. Defining property: the law considers property to be things that are both tangible and intangible, property law enables owners to protect their rights in relation to their property. Real property: land and whatever is permanently affixed to it or part of it, such as buildings, mines, and minerals and the legal rights associated with those things. Includes land, whatever is permanently attached to it and the associated legal rights. Can sometimes include the rights for things below the surface of the land. Personal property: all property, other than land and what is attached to it. Can include things that are tangible and intangible. Tangible property: personal property that is mobile, the value of which comes from its physical form. Intangible property: personal property, the value of which comes from legal rights.