Personal Property and
Bailments
Matt M., Kevin P., Robert S.,
Melissa B.
Chapter 19
Personal Property
• Personal Property is anything
that can be owned other than
real estate.
• Personal property - property
that has substance and can be
touched.
• Intangible personal property property that has no substance
and cannot be touched.
Gifts of Personal
Property
• Requirements of a completed
gift.
• Donor must intend to make the gift
• Gift must be delivered
• Donee must accept the gift
Lost Property
• Finder of lost property has a
legal duty to return the property
to the owner if they can be
found.
• If owner cannot be found,
person may keep the property.
Local Laws
• Come cities have laws that
require certain handling of lost
& found items.
• Like having to turn in found
items to the local authorities for
the owner to claim.
Rewards and
Reimbursement
• Finders of lost property are
entitled to any reward offered.
• The finder is entitled to
reimbursement of any expenses
in the process of returning the
property.
Misplaced Property
• Property is found in a public or
semipublic place, it is
considered misplaced.
• Must be returned to proprietor.
• Proprietor must return to
rightful owner.
Intellectual
Property
• intellectual property - original
work fixed in a tangible medium
of expression.
• Patents
• Copyrights
• Trademarks
Patents
• patent - exclusive right granted
by the government to make,
use, or sell an invention.
• Requirements for a Patent
• must consist of a new principal or
idea
• must be useful and not obvious to
skilled people in that field
Copyrights
• copyright - right granted to
exclusively publish and sell
artistic or literary work
• Copyrights are given to:
•
•
•
•
Authors
Composers
Photographers
Artists
Copyright Cont.
• Copyrights good for the life of
the author +70 years.
Trademarks
• trademark - distinctive mark,
symbol, or slogan used to
identify goods and distinguish
them from products by others
• Good for 10 years and may be
renewed for 10 year periods
Trademarks Cont.
• Established by:
• Usage
• State Trademark Laws
• Registering with U.S Patent Office
Bailments of Personal
Property
• bailment - agreement created
by the delivery of personal
property
• bailee - have someone else's
possessions
• bailor- if someone else has your
possessions
Principal Types of
Bailments
• Types of Bailments
•
•
•
•
Mutual-Benefit Bailments
Service or Repair
Storage
Parking a Car in a Parking Lot
Principal Types of
Bailments Cont.
• Types of Bailments Cont.
•
•
•
•
Security For a Loan
Renting Goods From Others
Bailments by Necessity
Gratuitous Bailments
Mutual-Benefit
Bailments
• When bailor and bailee receive
some benefit.
• More common types:
•
•
•
•
•
To be serviced or repaired
To be stored
As security for a loan
Out of necessity
Rental or lease agreement
Gratuitous Bailments
• A bailment given free of charge
• Two types of bailments:
• Bailor lends good to the bailee
without charge
• Bailee takes possession of goods
for bailor for safe keeping for free
Rights and Duties in
Bailments
• Each sides duties are closely
related and completely opposite
of the other.
Rights and Duties of the
Bailor
• Rights:
• To receive services or money
contracted for
• Protection of goods by the use of
reasonable care
• Return of goods when performed
and payment tendered
Rights and Duties of the
Bailor Cont.
• Duties:
• Pay for services or storage costs.
• Warn Bailee of possible danger
• Give notice of special care when
needed
• Pick up goods within a reasonable
time of completion
Rights and Duties of the
Bailee
• Duties:
• If sole benefit of bailee
• great care
• responsible for slight negligence
• If sole benefit of bailor
• slight care
• responsible for gross negligence
Rights and Duties of the
Bailee Cont.
• Must always exercise
reasonable care
• Must comply to contract
• May put lien on property
• may hold property until payment
• tortious bailee - one who
wrongfully retains possession
of lost or stolen property
Burden of Proof
• Plaintiff has burden of proof in
bailment cases
• must prove defendant was
negligent
Vocabulary
• donor
• bailor
• bailment
• intellectual property
• tangible personal property
• intangible personal property
• mutual-benefit agreement
Vocabulary Cont.
• gratuitous bailment
• donee
• bailee