Lecture 3 Blaw 3312 -001
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This 3 page Class Notes was uploaded by loveena Cherukunnathu on Thursday September 10, 2015. The Class Notes belongs to Blaw 3312 -001 at University of Texas at Arlington taught by John D Dowdy in Summer 2015. Since its upload, it has received 136 views. For similar materials see Law II in Business at University of Texas at Arlington.
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Date Created: 09/10/15
09032015 C Personal Property Bailments 1 Elements 2 Classifications a Sole Benefit of Bailor b Sole Benefit of Bailee c Mutual benefit d Modern Trend 3 Special categories a Common carriers b Warehouses c Innkeepers D Personal Property Documents of title 1 Warehouse receipts 0 Owner of the goods stores those goods in his warehouse Warehousemen issues the warehouse receipt which describes the goods And it s issued in the name of owner of the goods 0 Sometimes seller has the goods stored the goods and the actual transaction takes place when the buyer takes the actual purchase price to the seller and the seller negotiating that warehouse receipt to the buyer endorse the receipt and deliveries it to the buyer So the buyer can take the receipt and pick up the goods 2 Bills of lading o Goods are shipped by a seller to a buyer seller delivers goods to the carrier Carrier issues a bill of lading It s a document of title documentation of ownership of those goods Buyer is the one who needs the bill of lading so buyer can go claim the goods 3 Lost or stolen documents of title 0 What is the warehouse receipt is lost or accidently threw it away 0 Buyer goes to the warehouse to pick up goods but buyer doesn t have it 0 Seller can t turn the goods onto the buyer unless buyer can prove ownership of the goods 0 Buyer says I m going to have a lawsuit against you Say come at me 0 Warehouse man is going to say I believe you but what is it s not and get in trouble So you should prove it CH 49 Real Property and Landlord Tenant Relationships F Nature of reality 1 Land and buildings 2 Surface and subsurface o If you own land you also own everything under it But also can be separate 3 Air space 0 Adcolon theory You own the spoil you also own it till the sky 0 Thrasher vs city of Atlanta case City of Atlanta has planes that land near Thrasher s land Filed a lawsuit against city of Atlanta court for an injunction to keep those planes to fly over his land Adcolon theory planes are trespassing my area 0 What is the sky Who can tell where it begins and ends in the state of law What is below and above sky It s illusive Possession is the basis of all ownership I City of Atlanta won Adcolon theory only owns the land they are capable of possessing I The rest of the air space is no man s land that s where planes are flying G Estates in land 0 Feudalism Year 1066 That was the time when England had King Harold Vikings came to invade 0 William Harold s cousin came and put in this system The king owns all of theland 0 He had favored subjects lord and will grant them some land but owe the king something 0 There can be more than 1 interest on same land same time Concurrent ownership I Undivided fractional land if it s equally divided then it s not concurrent I Sometimes this happens by will Ownership of the land will be equal until divided 0 Joined tenant time interest and possession I All 4 interests have to own land at the same time I It all has to be under the same document I All 4 have equal possession of the land I If it fails to be joined tenant then it will be tenants in common 0 If they don t like the concurrent ownership I Can buy out the other tenants I Anyone can partition in concurrent ownership Can have a lawsuit and ask for a partition suit for partition Partition in kind subdivided Have to be equal Fee simple Possibility of revector when grantor is done using land it reverses 0 Marital property I Community property is all property brought since the marriage 0 Tenants in partnership business partnership I Right of survivorship
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