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VA Bar Personal Property
Bar Exam Personal Property Flash Cards
4
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Graduate
07/12/2010
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Term
Elements to a valid gift
 Definition

1. Donative Intent

2. Delivery

3. Acceptance
Term
Finder's Rights
 Definition

Lost Property = Finder winds against 3d parties (except highly private locus)

 

Mislaid Property = Owner/ Occupier wins 

 

Abandoned Property = Finder wins

 

Treasure Trove (common law) = Finder wins, even if trespasser. Modern law treats treasure trove as lost.
Term
Elements to a Bailment
 Definition

1. Physical custody

2. Intent to exercise control (includes Bailee's consent PLUS knowledge of presence)
Term
Bailee's Duty of Care
 Definition

Bailment solely for bailor = only liable for gross negligence.

 

Bailment solely for bailee = liable for even slight negligence.

 

Mutual Benefit = RPP

 

Common Carrier = insurer (with exceptions)
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