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Law 322 Chapter 8 and 9 Notes

by: Stephanie Notetaker

Law 322 Chapter 8 and 9 Notes LAW 3220

Marketplace > Clemson University > Law and Legal Studies > LAW 3220 > Law 322 Chapter 8 and 9 Notes
Stephanie Notetaker
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These notes cover material for exam 2.
Legal Environment of Business
Edward R. Claggett
Class Notes
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This 7 page Class Notes was uploaded by Stephanie Notetaker on Sunday February 21, 2016. The Class Notes belongs to LAW 3220 at Clemson University taught by Edward R. Claggett in Fall 2015. Since its upload, it has received 53 views. For similar materials see Legal Environment of Business in Law and Legal Studies at Clemson University.


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Date Created: 02/21/16
Law  322   Chapter  8  &  9  Notes   1. Definition  of  each   a. Real  property-­‐  things  that  attach  to  land,  not  easily  moveable     b. Personal  property-­‐fairly  easily  moved   2. Three  types  of  deeds-­‐   a. Deed-­‐written  document  of  who  is  the  owner  of  the  property,  common   way  to  transfer  ownership  of  property,  legal  piece  of  paper   b. Quitclaim-­‐As  is,  risky,  most  risky  to  take   c. Warranty-­‐safest  type  of  deed,  seller  warrants  to  the  buyer  that  they   have  good  clear  title  and  there  are  no  leans  or  encumbrances  on  it,  if   that  turns  out  not  to  be  true  you  can  sue  the  seller  for  breach  of   contract   d. Special  Warranty-­‐in  between  in  terms  of  riskiness,  the  seller  warrants   to  the  buyer  that  during  the  period  of  time  the  seller  owned  the   property  no  leans  or  encumbrances  were  put  on  it   3. Title-­‐you  own  the  land,  the  mineral  rights,  and  the  air  rights,  they  are   separable     a. Make  sure  you  are  getting  all  3  rights   b. If  you  are  going  to  buy  real  property,  the  first  thing  you  should  do  is   do  a  title  search   c. Make  sure  the  seller  has  paid  off  all  mortgages,  etc.   d. Purchase  title  insurance   i. Insurance  is  there  to  pay  off  claim   e. Fesimple-­‐you  are  the  outright  owner,  you  can  keep  anyone  else  from   using  the  property   4. Three  forms  to  hold  property  jointly-­‐   a. `Tenancy  in  common   i. Right  of  survivorship  that  exists  is  different  between  this  and   tenancy   ii. No  right  of  survivorship,  goes  to  relatives   b. Joint  tenancy   i. One  of  the  owner  dies,  his  or  her  interest  goes  to  the  other   owner   c. Tenancy  by  the  entirety   i. Only  available  to  married  couples   ii. If  one  dies,  goes  to  the  other  (right  of  survivorship)   iii. Can’t  terminate  unless  they  both  hate  each  other,  they  can  get  a   divorce  and  it  won’t  go  to  them   d. Life  estate   i. Someone  has  the  right  to  use  and  enjoy  property  for  their  life,   if  they  pass  away  it  terminates  back  to  the  owner   5. Trusts-­‐  Trustee  and  Beneficiary   a. A  trust  separates  the  legal  ownership  of  the  property  from  the   beneficial  ownership,  have  to  have  a  definite  term   b. Trustee  becomes  the  legal  owner  of  that  property  during  that  term  of   the  trust   c. Beneficiary-­‐  people  who  get  to  use  that  property  and  receives  the   benefits   i. Have  equitable  title   6. Business  trusts   a. Ones  in  which  a  business  takes  some  of  its  assets  and  puts  them  in  a   trust   b. Assets  are  secured  from  creditors  and  bankruptcy   c. Beneficiaries  interests  are  negotiable   d. It  is  more  liquid,  you  can  sell  it  if  you  need  to   7. Condominiums     a. Historically  a  form  of  ownership  for  elderly  people   b. All  you  own  is  from  the  walls  in   8. Cooperative   a. Started  in  large  cities  in  buildings  where  most  of  the  owners  were   elderly  and  had  a  strong  interest  to  keep  young  people  out   b. You  own  from  the  walls  in   c. Nothing  gets  done  without  the  cooperative  board  approving  it   d. If  you  want  to  sell  it,  they  have  to  approve  who  you  sell  it  to   e. Must  more  restricted  than  a  condominium   9. Servitudes-­‐limitations  or  requirements  on  the  use  of  your  property   a. Easements   i. Gives  someone  the  right  to  legally  come  onto  your  property  for   a  specific  purpose   ii. Typically  the  town  has  one  within  10  feet  of  your  property  to   put  in  landlines,  sewage,  etc.   iii. If  someone  needs  to  cross  your  property  to  get  to  their   property   iv. Easement  should  be  in  the  deed   b. Covenants   i. In  the  deed   ii. Restriction  about  what  can  be  done  on  the  property   iii. Very  difficult  to  get  out   iv. All  development  owners  and  the  board  have  to  agree  on   getting  rid  of  it   10.Adverse  Possession  –concept  in  state  laws   a. If  someone  uses  your  property  or  a  piece  of  your  property  openly  and   notoriously  (would  be  apparent  to  anyone  who  walks  or  drives  by)  for   the  period  of  time  specified  in  that  specific  states  adverse  possession   and  you  don’t  object,  they  become  the  legal  owner  of  that  property   i. If  someone  builds  a  swimming  pool  or  tennis  court  in  their   back  yard  and  it  goes  onto  your  backyard,  you  must  say   something  when  it  is  happening   b. Largely  where  people  own  out  of  state  vacant  land   i. Florida  resident  who  owns  a  house  in  Colorado   11.Landlords  are  Tenants-­‐rights  and  duties  of  each   a. A  lease  is  a  contract  and  is  enforceable   b. A  lease  should  have  who  the  landlord  and  tenant  are   i. The  address   ii. What  is  the  amount  of  rent  and  when  is  it  due   iii. Term  of  the  lease   iv. If  it  is  not  in  the  lease,  you  don’t  have  the  right  to  do  it   v. Make  sure  who  is  responsible  for  paying  utilities   vi. Security  deposits   1. What  is  the  amount  and  the  expectation  of  when  you  get   it  back   c. Major  rights  and  obligations   i. Tenants   1. The  right  to  use  and  possess  the  property   a. Whether  it  is  to  live  there  or  do  business   b. Implied  warranty  that  is  habitable   2. Duties   a. Not  to  conduct  illegal  activities   b. Not  to  create  nuisances  for  other  neighbors     c. Return  property  to  landlord  in  the  same   condition  it  was  given  to  you  in   d. Businesses  (commercial  leases)  will  almost  always  have  leases  in   written  documents   i. Who  pays  for  utilities,  property  taxes,  and  insurance   ii. Signage,  what  kind  of  signs  can  you  put  up   iii. Prohibit  conducting  illegal  activities  and  storing  hazardous   chemicals   iv. Structural  changes-­‐keep  in  mind  how  long  your  lease  it   v. Early  termination     vi. Landlord  can  show  up  unannounced  and  walk  through   12.Eminent  Domain  and  Police  Powers   a. Eminent  Domain  -­‐  ?????   b. Police  Powers  -­‐  regulate  society   i. A  mere  decline  in  value  doesn’t  mean  you  get  compensated   c. Lean  –  creditor  that  has  legal  claim  in  your  property   i. For  real  property,  will  record  a  mortgage  lean  on  your  deed   1. Bank  can  force  a  foreclosure   ii. Mechanics  lean  –  can  be  put  on  your  house  by  anyone  that  does   work  on  your  real  property   1. Will  show  up  on  deed   2. If  you  don’t  want  to  pay  them  they  can  force  a  sale  on   your  house   13.Torts  against  property   a. Trespass     i. One  of  the  two  principle  torts  on  real  property   ii. When  anyone  is  on  your  property  without  your  permission   iii.  You  as  the  owner  of  the  property  have  no  obligation  to  protect   trespassers  of  your  property  in  case  of  damage  or  injury     1. Exception  –  Attract  Nuisance  Doctrine   2. If  you  have  what  is  deemed  to  be  an  attractive  nuisance   you  have  a  right  to  protect  children  even  if  they  are  on   your  property  without  your  permission  (ex.  Pool,  slides)     iv. You  do  have  a  duty  to  protect  people  that  you  invite  over  to   your  property     b. Nuisance   i. Two  of  the  two  principle  torts  on  real  property   ii. Private  Nuisance   1. Anyone  inferring  with  your  right  to  use  and  enjoy  your   property     2. Ex.  If  your  neighbor  dumps  his  trash  in  your  back  yard     iii. Public  Nuisance   1. Someone  inferring  with  the  publics  rights  to  use  public   property   2. Ex.  Neighbor  leave  four  cars  parked  on  the  road   blocking  people  from  passing   c. Trespass  against  personal  property   i. Happens  when  someone  temporarily  deprives  you  of  use  on   your  personal  property  without  your  permission   1. Ex.  If  someone  came  and  took  my  computer  and  said   they  need  to  use  my  computer  for  an  hour  without  my   permission   d. Conversion   i. If  I  deprive  you  of  use  of  your  personal  property  for  a  long   period  of  time,  and  most  of  the  time  it  comes  back  damaged     ii. Ex.  I  need  your  computer  for  a  week  and  I  drop  it  down  a  flight   of  stairs  in  the  process  and  then  give  it  back  to  you   iii. Most  courts  do  not  have  a  clear  distinction  between  conversion   and  trespass  against  personal  property,  so  on  exam  he  will   accept  either   e. Misappropriation   i. If  someone  is  using  intellectual  intangible  property  without   permission   ii. Could  sue  for  injunction  and  damages     iii. Used  with  trademarks,  copyrights,  etc.     14.Torts  against  property  owners  and  Premises  Liability   a. Basically  says  if  you  own  a  business  you  have  a  duty/obligation  to   keep  the  premises  safe  for  your  customers     b. If  there  is  a  safety  hazard  you  need  to  warn  your  customers   c. Need  to  make  your  premises  secure  for  customers   i. Lights  in  the  parking  lot,  security  guards  in  parking  lots   d. Businesses  do  not  have  to  protect  trespassers     e. Premises  Liability     i. Businesses  have  to  take  steps  to  protect  customers  within   economical  reason,  so  don’t  have  to  take  measure  that  are   worth  a  fortune   ii. Liability  insurance  is  common  for  businesses  to  have  to  protect   against  any  damages           Chapter  9  -­‐  Intellectual  Property   1. Trademarks  –  any  kind  of  symbol,  design,  logo/phrase  associated  with  a   company  and  its  products  through  marketing  and  has  become  distinctly   connected  to  the  company    (Ex.  Nike  Swoosh)     -­‐ There  is  a  federal  act  under  which  you  can  register  and  protect   your  trademark  for  10  years     -­‐ At  the  end  of  those  10  years,  you  can  probably  get  it  extended  for   another  10  years     -­‐ Want  to  register  your  trademark  under  federal  law  to  protect  your   product/reputation     -­‐ Also,  want  to  register  it  in  the  event  that  you  want  to  sue  someone   for  using  it  because  they  have  it  under  record  protected   -­‐ If  you  register  it  then  you  can  protect  it  in  all  other  countries   applicable     o In  the  European  Union,  there  is  an  advantage  that  applies  to   all  of  the  encompasses  countries  in  EU     -­‐ Can  then  give  a  copy  of  registration  to  the  US  customs  so  that  they   can  protect  it  from  unauthentic  products  coming  in  and  out  of  the   country     -­‐ What’s  the  easiest  way  to  prove  customer  confusion  of  a  product   in  the  court  of  law?   o Have  someone  go  to  the  store  where  they  sell  the  vacuum   cleaner  with  a  swoosh  and  survey  customers  on  their  way   out   o Is  the  mis-­‐association  ruining  the  reputation  of  quality  of  a   companies  product   -­‐ Counterfeiting     o Anytime  you  take  a  copy  of  the  genuine  article     o Very  expensive  to  US  businesses   § Lose  sales  in  their  product     § Lose  the  reputation  of  quality     o Provides  that  a  private  party  can  have  police/sheriff  seize   the  counterfeited  products  and  destroy  them     § Works  well  in  a  warehouse  in  US   § But  if  it’s  in  Hong  Kong,  can  take  a  US  order  to  local   courts  but  they  probably  will  be  very  reluctant  to   help  you  because  it  creates  jobs   § Can  go  into  the  courts  in  other  country  and  ask  them   to  issue  a  search  and  seizure  warrant  if  their  law   allows  for  it,  but  it  may  also  be  met  with  reluctance   and  resistance     -­‐ How  protectable  are  the  trademarks?     a. Arbitrary  &  Fanciful   i. Arbitrary     1. When  no  one  would  associate  the  logo  with  a  product   until  marketing  associates  them     2. Ex.  –  A  Nike  swoosh  on  a  vacuum     ii. Fanciful     b. Suggestive   i. Second  most  protectable   ii. When  you  hear  a  name  and  it  suggests  what  products  they  sell   1. Ex.  Chicken  of  the  Sea,  Dairy  Queen   iii. Don’t  let  everyone  use  your  intellectual  property,  take   reasonable  steps  to  protect  it     c. Descriptive   i. The  distinction  between  suggestive  and  descriptive  is  not  clear   cut,  so  keep  in  mind  some  examples   1. Ex.  Raisin  Bran,  Yellow  Pages   ii. As  long  as  you  can  show  the  public  that  it  is  associated  with  the   company,  will  be  protected     d. Generic     i. Just  means  that  they  are  common  words   ii. Ex.  Thermos,  Nylon,  Xerox     1. Even  if  it  isn’t  a  Thermos-­‐brand  product,  people  may   still  refer  to  canteens  as  thermos     iii. The  risk  is  that  if  the  name  becomes  so  generic  that  the  public   starts  associating  more  things  than  just  to  your  company  then   we  can’t  protect  it     2. Trade  Names   a. A  name  of  the  business  or  company   b. There  is  no  federal/state  law  in  the  US  under  which  you  can  register   your  business  name  to  get  it  protected   c. It  is  protected  under  common  law  (judge-­‐made  law),  where  the  first   user  of  that  name  can  protect  their  name  against  others  that  want  to   use  it   i. Ex.  Coca-­‐Cola  can  protect  its  name  under  common  law     3. Copyrights   4. Patents   5. Trade  Secrets   a. Anything  that  you  have  that  is  distinctive  to  your  business  that  is  a   secret   b. Register  for  those,  it  is  a  public  file  so  competitors  can  come  look  at  it     c. The  owner  has  to  show  that  they  are  treating  it  as  a  trade  secret   i. If  it  is  on  a  disk  or  written  down  somewhere  you  have  to  lock  it   up  somewhere  and  treat  it  as  a  secret   ii. If  you  have  employees  with  access  to  that,  they  should  have   signed  a  disclosure  agreement   iii. If  you  leave  this  company  for  a  period  of  time  you  can’t  go   work  for  your  competitor     d. Protective  order     i. Accusing  party  can  only  use  trade  secret  for  the  defense  and   for  the  court  and  for  nothing  else  so  it  remains  a  trade  secret     e. The  government  says  if  someone  purposely  misappropriates  a  trade   secret,  the  government  can  sue  them     6. Trade  Dress   a. Relates  to  the  look,  feel,  shape,  size,  color,  packaging  of  your  product   b. If  your  trade  dress  is  unique,  you  can  register  it  and  protect  it  for  10   years   i. Has  to  be  inherently  distinctive     ii. Ex.  Owen’s  Corning  Pink  Fiberglass   iii. Ex.  Scott’s  Miracle-­‐Gro  is  packaged  in  Green  and  Yellow  and  is   customer  recognized,  so  it  is  protectable     7. Goodwill   a. For  test  –  value  associated  with  having  an  ongoing  profitable  business       8. Service  Mark   a. Trade  mark  for  a  company  engaged  in  a  service  business  instead  of  a   product   b. Ex.  Jiffy  Lube     9. Certification  Mark   a. Certifies  the  region  or  country  where  the  product  was  made   b. Some  people  don’t  want  to  buy  products  from  a  specific  company  for   one  reason  or  another   c.   10.Other  Intellectual  Property  –  assumes  you  have  an  existing  business  that  is   up  and  running     a. Workforce  in  place   i. Trained  workforce   ii. If  someone  wants  to  start  a  business  to  start  competing  against   you,  you  have  an  advantage/added  value  because  you  already   have  trained  people  helping  you  with  the  product  or  service   b. Customer  list   i. Also  a  value  to  the  business   ii. This  is  an  asset  to  the  company  of  contacts  for  the  people  who   help  keep  your  company  in  business     c. Favorable  contract  or  lease     i. If  I  have  a  supply  contract  where  I  get  supplies  for  less  than  fair   market  price  then  that’s  an  advantage    


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