Vocabulary
Is movable property
What is Personal Property
Can be categorized into this many types
What is 3
Examples of intangibles
What are
-bank accounts
-insurance policies
-intellectual property
Personal property be categorized into two subgroups
What is
-Chattels
-Intangibles
The 3 types of bailment
What are ...
-sole benefit of bailor
-sole benefit of bailee
-mutual benefit
Brian agrees to look at Vanessa's car while she is on vacation.
What is bailment for sole benefit of bailor.
Tangible personal property (example: furnace)
What is chattel
The person who owns the property
Kinds of personal property which cannot be seen or touched
What is intangible
The person who temporarily possesses property of another
What is bailee
Temporary placement of control over or possession of personal property
What is bailment
The two parties in a bailment
What are bailor and bailee