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