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Stack #12409
Business Law Stack #12409
| Term | Defined 3 by Ashcroft 15th Ed | more defined |
|---|---|---|
| property | Anthing that may be owned | |
| personal property | Movable property; interests less than complete ownership in land or right to money | 2 classes: Tangible and Intangible |
| tangible personal property | personal property that can be seen, touched, and posses'd | animals, annual growing crops, furniture |
| Intangible personal property | Evidences of ownership of rights or value | checks, stocks, contracts, copyrights |
| purchase | ownership by payment | (blank) |
| gift | transfer w/out consideration | (blank) |
| donor | person who makes a gift | (blank) |
| donee | person who receives a gift | (blank) |
| accession | adding property of another | (blank) |
| confusion | Inseparable mixing of goods of different owners | (blank) |
| creation | Bringing property into being | (blank) |
| abandon | discard w/ no intention to reclaim | (blank) |
| lost property | property unintentionally left w/ no intention to discard | (blank) |
| abandon | discard w/ no intention to reclaim | (blank) |
| bailment | transfer of possession of personal property on condition property will be returned | (blank) |
| bailor | person who gives up possession of bailed property | (blank) |
| bailee | person in possession bailed property | (blank) |
| constructive bailment | bailment imposed when a person controls lost property | (blank) |
| (blank) | 3 Bailment Types | sole benefit of bailor; bailee; mutual-benefit |
| pawn | tagible personal property left as security for a debt | (blank) |
| pledge | Intangible property serving as security for a debt | (blank) |
| conversion | unauthorized exercise of ownership rights | (blank) |
| carrier | transporter of goods, people, or both | (blank) |
| private carrier | carrier that transports under special arrangement for a fee | (blank) |
| common carrier | One that undertakes to transport w/out discrimination all who apply for service | (blank) |
| consignor | One to whom goods are shipped | (blank) |
| bill of lading | receipt +contract between consignor and carrier | (blank) |
| straight Bill of Lading | Contract requireing delivery of shipped goods to consignee Only | (blank) |
| Order Bill of Lading | Contract allowing delivery of shipped goods to bearer | (blank) |
| baggage | Ariticles necessary for personal convenience while traveling | (blank) |
| hotelkeeper | (blank) | (blank) |
| boardinghouse keeper | (blank) | (blank) |
| guest | (blank) | (blank) |
| goods | (blank) | (blank) |
| movable personal property | (blank) | (blank) |
| real Personal property | (blank) | (blank) |
| Intangible Personal property | (blank) | (blank) |
| sale | Tranfer of title to goods for price | (blank) |
| contract to sell | Agreement transfer title to goods for a price | (blank) |
| title | Ownership | Evidence of ownership of property |
| price | consideration in a sales contract | (blank) |
| Existing goods | goods that are in being and owned by the seller | (blank) |
| identifited goods | goods picked to be delivered to buyer | (blank) |
| future goods | goods not both existing and idetified | (blank) |
| bill of sale | written evidence of title to tangible personal property | (blank) |
| receipt | taking possion of goods | (blank) |
| acceptance | assent of buyer to become owner of goods | (blank) |
| judicial admission | fact acknowledged in course of legal proceeding | (blank) |
| nonresellable goods | sepcially made goods not easily resellable | (blank) |
| auction | sale of property to the highest bidder | (blank) |
| bidder | person who makes offer at auction | (blank) |
| Without reserve | auction goods may not be w/drawn after bidding starts | (blank) |
| With Reserve | auction goods may be w/drawn after bidding starts | (blank) |
| warehouse receipt | document of title issued by storage company for goods stored | (blank) |
| shipment Contract | seller liable until goods delivered to carrier | (blank) |
| Destion contract | seller liable until goods delivered to destination | (blank) |
| FOB-- Free on Board | Designate point to which seller bears risk and expense | (blank) |
| Incoterms | International commercial terms | (blank) |
| Fungible goods | goods of a homogeneous nature sold by weight/measure | (blank) |
| sale on approval | sale not completed until buyer approves goods | (blank) |
| sale or return | completed sale w/ right to return goods | (blank) |
| commercial unit | Quantity regarded as separate unit | (blank) |
| bailment | personal property temporily in custody of another person | (blank) |
| consignment | transfer of possesion of goods for purpose of sale | (blank) |
| document of title | doc that shows ownership | (blank) |
Created by:
mcb