Chapter 19: Personal Property and Bailments

I. Personal Property: Anything that can be owned, which can be moved.

• Example: phone, desk, car, ball

1. Tangible Personal Property: Any property that can be touched
2. Intangible Personal Property: Property that cannot be touched
   • Photos, Music, Ideas

II. Possession of Personal Property:

• Gift of Personal Property- cannot be taken back
  • requirements of a gift
    1. intent of the donor
    2. must be delivered
    3. do nee must accept it
• Lost Property
  • property that is found in a public or common place
  • law states that the finder has legal responsibility to search out the owner
• Rewards for Lost Property
  • you are only entitled to a posted reward when you had previous knowledge of the reward
• Misplaced Personal Property
  • property that is found in an establishment (lost and found)
  • must be held for a period of time (60-90 days) before the ownership can be transferred

III. Intellectual Personal Property:

1. Copyright: Any original work that is fixed in a permanent medium of expression.
   • Copyright Infringement: Violating the exclusive rights to the use and sale of an original work.
     • Copyright Infringement is not applicable in the News, Research or Education
   • The Copyright lasts for 50+ years after the artist’s death.
   • Copyrighted Material may not be reproduced without written consent.
   • US Copyright and Patent Office to register your copyright.

IV. Patents: The exclusive rights granted by the federal government to make, sell, or use an invention.

• Last for 17 years.
• New principle or idea
• Purpose or function
• Diagrams/Illustration/Prototype

V. Trademark: a mark, symbol, slogan that legally identifies a business.

• Trademark last for 10 years and are renewable.’
• trademark infringement  – violation of the exclusive rights to use a trademark

Bailment- an agreement to the possession and use of ones own personal property for a specific purpose

• ex) dry cleaners , autobody shop, parking garage
• bailee- person who takes possession of personal property
• bailor- party that gives up possession of personal property

Types of Bailments

1. mutual benefit bailment
2. bailment for the sole befit of bailor and bailee

Service or repair

• bailor- owns item to be serviced or repaired
• bailee- performs the repair or service (mechanic)

Storage or parking

• bailor- owns the item to be stored or parked
• bailee- is responsible for the storing or parking

Security for a loan

• bailor- pledger, debtor- borrows money
• bailee- pledgee, creditor- lends money

Renting or leasing

• bailor- rents an item to someone ( bank
• bailee- pays to use an item

Bailments by necessity

• bailor- gives up possession of property
• bailee- accepts or protects the property

Rights and Duties in a bailment

• bailor’s rights :
  1. harm property protected from harm
  2. property must be returned when payment is made
  3. property only used for contracted service
• bailee’s rights

1. Bailor’s Duties
    
   • Pay for costs
   • Warn the bailee of any danger associated with personnel property.
   • Responsible to pickup in a reasonable time.
2. Bailee’s Duties
   • Degree of care:
     • Great care
     • Ordinary Care
     • Slight Care

Gratuitous Bailment (SDE benefit of bailor)

1. SDE benefit of the bailor: When a bailment only benefits the party who is giving up possession of property
   1. Dog Watching – ordinary care
   2. Car Sitting- Ordinary Care
2. SDE Benefit of the Bailee:
   1. When the bailee benefits from the usage of ones personal property. Degree of care is always great.