MANAGMNT 260 Chapter 33-34: Chapter 33 and 34 Notes- OneClass
27 Aug 2016
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Ownership: a bundle of legal rights recognized and enforced by society ! Example: ownership of a building includes excessive rights to: use, enjoy, sell, mortgage, or rent the building ! Types of property: real- the earths crust and all things rmly attached to it! Example: the building that were in (sits on the ground/attached to ground)! Example: the camera attached to the ceiling is real property! Example: crops are personal property : tangible vs. intangible ! Tangible: something you can feel and touch: personal property, land, buildings, furniture ! Intangible: something you cant touch : patent rights, easements, bonds ! Acquiring ownership of personal property: production/purchase ! Its yours unless you agreed to do the work for someone else : possession of unowned property ! Right of finders for property: abandoned: owner intentionally placed the property out of his possession with intent to relinquish ownership of it , lost!
