Module 5: Property Law Flashcards Preview

MOS 2275: Business Law > Module 5: Property Law > Flashcards

Flashcards in Module 5: Property Law Deck (28)
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1
Q

real property

A

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

2
Q

personal property

A

all property, other than land and what is attached to it

3
Q

tangible property

A

personal property that is mobile, the value of which comes from its physical form

4
Q

intangible property

A

personal property, the value of which comes from legal rights

5
Q

bundle of rights

A

the set of legal rights associate with property, which usually includes the right to exclude, the right to possess and use, and the right to transfer to others or dispose of property

6
Q

bailment

A

temporary transfer of possession of personal property from one person to another

7
Q

bailor

A

the owner of property who transfers possession in a bailment

8
Q

bailee

A

the person who receives possession in a bailment

9
Q

bailment for value

A

bailment involving payment or compensation

10
Q

gratuitous bailment

A

bailment that involves no payment

11
Q

warehouser

A

a bailee who stores personal property

12
Q

carrier

A

a bailee who transports personal property

13
Q

lien

A

the right to retain posession of personal property until payment for service is received

14
Q

patent

A

a monopoly to make, use, or sell an invention

15
Q

industrial design

A

the visual features of shape, configuration, pattern, ornamentation, or any combo of these applied to a finished article of manufacture

16
Q

distinguishing guise

A

a shaping of wares or their container, or a mode of wrapping or packaging wares

17
Q

trade name

A

the name under which a sole proprietorship, partnership, or a corp does business

18
Q

cyber-squatting

A

the bad-faith practice of registering trademarks or trade names of others as domain names for the purpose of selling the domain name to the rightful owner or preventing the rightful owner from obtaining the domain name

19
Q

moral rights

A

the author’s rights to have work properly attributed and not prejudicially modified or associated with products

20
Q

fair dealing

A

a defence to copyright infringement that permits the copying of works for particular purposes

21
Q

fixtures

A

tangible personal property that is attached to land, buildings, or other structures

22
Q

fee simple

A

the legal interest in real property that is closest to full ownership

23
Q

tenancy in common

A

co-ownership whereby each owner of an undivided interest can dispose of that interest

24
Q

joint tenancy

A

co-ownership whereby the survivor inherits the undivided interest of the deceased

25
Q

registry system

A

the system of land reg whereby the records are available to be examined and evaluated by third parties

26
Q

land titles system

A

the system of land registration whereby the administrators guarantee the title to land

27
Q

title search

A

investigation of the registered ownership of land in a registry system

28
Q

title insurance

A

insurance that covers title-related issues such as fraudulent transfers and mortgages, liens, boundary encroachments, issues related to government regulation, zoning problems, survey defects, and registration issues