1. Section 17.1

2. Personal Property and Bailments Chapter 17
Section 17.1
Personal Property
Section 17.2
Bailments

3. What You’ll Learn
How to identify tangible and intangible personal property (p. 362)
How to decide when a gift of personal property is completed (p. 362)

4. What You’ll Learn
How to distinguish between lost, misplaced, and abandoned property
(pp )
How to explain the law that applies to stolen property (p. 363)

5. What You’ll Learn
How to discuss the law of patents, copyrights, and trademarks (p. 365)

6. Why It’s Important
Knowing the law about personal property will help you safeguard your possessions.

7. Legal Terms
real property (p. 362)
personal property (p. 362)
tangible/intangible personal property
(p. 362)
donor/donee (p. 362)
abandoned property (p. 363)
intellectual property (p. 365)

8. Legal Terms
patent (p. 365)
copyright (p. 365)
fair use doctrine (p. 365)
trademark (p. 365)

9. Section Outline Types of Personal Property Gifts of Personal Property
Lost Property
Misplaced Property
Stolen Personal Property

10. Section Outline
Intellectual Property
Patents
Copyrights
Trademarks

11. Pre-Learning Question
What do you think are types of personal property?

12. Types of Personal Property
Possessions such as books, toys, and clothing are examples of personal property, which is anything that can be owned other than real estate.

13. Types of Personal Property
Tangible personal property is something that has substance and can be touched, such as CD players, vehicles, and even food on the table.

14. Types of Personal Property
In contrast, intangible personal property has no substance and cannot be touched.
If someone owes you money, for example, the right to receive money is intangible personal property.

15. Gifts of Personal Property
A gift of personal property has three requirements:
The donor (the one making the gift) must intend to make the gift.

16. Gifts of Personal Property
The gift must be delivered.
The donee (the one receiving the gift) must accept the gift.

17. Lost Property
If you find lost property, such as a watch on the sidewalk, you have a legal duty to try to find the owner.

18. Lost Property
If the owner can’t be found, you may be able to keep the property, depending on your local laws.

19. Misplaced Property
If property is found in a public or semi-public place, it is considered misplaced rather than lost.
The owner will probably recall where it was left and return for it.

20. Misplaced Property
If you find property in such a place, you should leave it with the proprietor or manager.

21. Abandoned Property
Abandoned property is property that has been discarded by the owner without the intent to reclaim ownership.

22. Abandoned Property
With some exceptions, anyone who finds abandoned property has the right to keep it and obtain good title
to it.

23. Stolen Personal Property
A thief acquires no title to goods that are stolen and cannot give good title to anyone else.
Even an innocent purchaser who acquired the item in good faith must return it to the owner.

24. Pre-Learning Question
How is intellectual property protected by law?

25. Intellectual Property
Intellectual property is an original work fixed in a tangible medium of expression. Government protects intellectual property by issuing
patents
copyrights
trademarks

26. Patent
A patent gives an inventor the exclusive right to make, use, or sell an invention for seventeen years.
To be patented, a device must consist of a new principle or idea.

27. Copyright
A copyright is a right granted to an author, composer, photographer, or artist to exclusively publish and sell an artistic or literary work.
Copyrighted works are protected for the life of the author plus seventy years.

28. Copyright
Under the fair use doctrine, copyrighted material may be reproduced without permission in certain cases.
The amount and use of the material must be reasonable and not harmful to the copyright owner.

29. Trademark
A trademark is a distinctive mark, symbol, or slogan used by a business to identify and distinguish its goods from products sold by others.

30. Which type of property is being described?
Property found in a public or semi-public place.
Property that has no substance and cannot be touched.

31. continued
Property that has been discarded by the owner without the intent to reclaim ownership.
Property that is an original work fixed in a tangible medium of expression.

32. ANSWER
misplaced
intangible
abandoned
intellectual

33. Reviewing What You Learned
Section Assessment
Reviewing What You Learned
Give two examples of tangible personal property and one example of intangible personal property.

34. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Tangible: clothing, books, automobiles, and food.
Intangible: someone owes you money.

35. Reviewing What You Learned
Section Assessment
Reviewing What You Learned
What are the three requirements of a completed gift?

36. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Donor must intend to make the gift.
The gift must be delivered.
The donee must accept the gift.

37. Reviewing What You Learned
Section Assessment
Reviewing What You Learned
Explain the differences between lost, misplaced, and abandoned property.

38. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Lost: found in a place that would indicate it was not put there intentionally.
Misplaced: found in a place where the owner is likely to recall having left it.

39. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Abandoned: discarded by the owner without the intent to reclaim ownership of it.

40. Reviewing What You Learned
Section Assessment
Reviewing What You Learned
Why can the owner of stolen personal property always regain possession of the item?

41. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Because the title to the stolen goods never left the true owner.

42. Reviewing What You Learned
Section Assessment
Reviewing What You Learned
Describe the difference between a patent, copyright, and trademark.

43. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Patent: a grant by the federal government that gives an inventor the exclusive right to make, use, or sell an invention for seventeen years.

44. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Copyright: right granted to an author, composer, photographer, or artist to exclusively publish and sell and artistic or literary work.

45. Reviewing What You Learned Answer
Section Assessment
Reviewing What You Learned
Answer
Trademark: a distinctive mark, symbol, or slogan used by a business to identify and distinguish its products from products sold by others.

46. Critical Thinking Activity Intellectual Property
Section Assessment
Critical Thinking Activity
Intellectual Property
Suppose you had an idea for a pen that you could use to access the Internet.

47. Critical Thinking Activity Intellectual Property
Section Assessment
Critical Thinking Activity
Intellectual Property
You would be able to download messages and read them on a small screen on the side of the pen. What would you do to protect your intellectual property?

48. Critical Thinking Activity Answer Intellectual Property
Section Assessment
Critical Thinking Activity Answer
Intellectual Property
Answers may vary but will probably suggest applying for a patent.

49. Legal Skills in Action Personal Property
Section Assessment
Legal Skills in Action
Personal Property
Myra found a diamond and ruby necklace on the sidewalk near her home. She was very excited because rubies are her birthstone and she loves diamonds.

50. Legal Skills in Action Personal Property
Section Assessment
Legal Skills in Action
Personal Property
Is the necklace considered lost, misplaced, or abandoned property? What should Myra do with the necklace? What laws apply to this situation? Write a letter to Myra offering your advice.

51. Legal Skills in Action Answer
Section Assessment
Legal Skills in Action Answer
Personal Property
Answers and letters will vary. The necklace is probably considered lost.

52. End of Section 17.1