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

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Desmond Mc Keon

Document Summary

Real property: land and what is attached to it. Personal property: all property, other than land and what is attached to it: tangible property: Personal property that is mobile, the value of which comes from its physical form. Intangible property: personal property, value of which comes from legal rights. Includes insurance policies, accounts receivables, bank accounts, customer records, etc. Acquisition to ownership: no comprehensive system for publicly registering title to personal property exists, because: Most goods can be easily transported from one province to another. Chattels are registered, because it is considered economical to protect the creditor"s right to property. Land is acquired through purchase or lease: goods are acquired by purchasing or manufacturing them. Others (trademark) are established through use, registration, or both. Possession without ownership: gaining ownership of the property of another, often with the intent that possession ultimately be returned.