Assignment on Business Property Law

Assignment on Business Property Law

Businesses value property law as it governs the ownership, use, and possession of the real

and personal property. Most of the legal concepts of property law are borrowed from common

Law. Additionally, contemporary law has incorporated the ideas of Common Law to define the rights in real and personal property such as bailment, tenancy, and easements. It is, therefore, essential to have a better understanding of each concept of property law concerning the business.

Duty of Care

1. Tracy’s duty of care is best described as a duty of ordinary care because that is the standard for bailment in general. Bailment is a term under common law that defines the delivery of goods from one person to another for a specific purpose with transferring ownership (Jalil & Mian, 2012). The general rule is that a Bailee should return the goods to the bailor after use, and the Bailee has a straightforward liability of ordinary care under the circumstances.

Adverse Possession

2. No, B-mart and Chad’s possession was with the Simpsons’ permission, and, therefore, the claim was not adverse to that of the Simpsons. Common law provided that for one to obtain title over land property through adverse possession, the possession must be; hostile, continuous, without owner’s permission, to the exclusion of the owner, and for seven years (Raz, 2018). While B-mart and Chad’s possession was hostile and continuous, it was with permission from the owner.

Easements

3. Pablo gave Kelsey an easement by a grant. This kind of interest in land grants the easement holder the right to use the grantor’s property, such as travel on the road through the grantor’s land like in this case.

Types of Gifts

4. Inspector Gadget gave his great-grandfather’s Gadget ‘Brella to Nurse Neves Yoshioka because he expected to die soon. This is an inter vivos gift.
5. This type of gift is known as a gift Mortis Causa. It is a conditional gift, which is conditioned on Zach dying. However, since Zach recovered, the gift is automatically revoked. A gift Mortis Causa is made in anticipation of impending death. It takes effect upon the death of the donor and is revoked in the event the donor survives the impending death.
6. Josh made a valid, binding gift because he intended to transfer present ownership to Mia, and Mia accepted the bag. A gift is a permanent transfer of property from a donor to a recipient without any consideration. The donor must have the intention to transfer the property, and they must deliver the property to the recipient, who must accept the gift. In this case, Josh handed the bag to Mia, who seemed to like it a lot, and Mia accepted it.

Bailment

12. The Briner School of Business is a constructive Bailee, obligated to return the textbook to Mrs. Principal, and until it does, it is liable for any harm to the property. Constructive bailment or involuntary bailment arises when a person comes into lawful possession of another’s property without any contract of bailment. Such a person is treated as a Bailee by operation of the law, and the duties of a Bailee bound them under a bailment contract.

Conveyancing

13. Unlike a tenant, a licensee is not entitled to exclusive possession of the property. While a tenancy confers upon the tenant a right to sole possession over a property, a license simply confers a licensee the permission to use the property for a specific purpose.
14. Felix bought a house through a mortgage he secured from Bradford National Bank in Greenville. When he failed to make his mortgage payments, the bank used a lien to foreclose on the property and sell it. A property lien allows creditors to obtain access to a property if debts are not paid. In this case, the bank was the creditor that took possession of the house to secure its debt.
15. Yes, there was an effective delivery of the hatpin. Abdul gave Gavin the only key to the vault that contains the antique pizza cutter.
16. A contract rescission occurred. Rescission is a remedy that extinguishes a contract. One of the grounds for rescinding an agreement in the public interest which provides that one may revoke a contract where its enforcement would be prejudicial to the public interest. In this case, continuing with the tenancy agreement between Mrs. Finley, Braden and Gustavo would be against public interest since the noise from Gustavo’s and Brandon’s house disturbs the other tenants.
17. A Mortgage is the security interest against a property.
18. The difference between bailment and a gift is that in a bailment, only possession of the property is transferred to the Bailee. Whereas with a gift, both possession and ownership must pass to the recipient.
19. The element that distinguishes a contract from a gift is the element of consideration present in a contract, but not in a gift. The essential elements of binding a contract are offer, acceptance, legality, consideration, and capacity of the parties. Consideration is an essential element (Smith & Renz, 1992). It is exchanged for the performance or promise to perform by one party.
20. The books that line Professor Marti’s bookshelf are not real property; instead, they are personal property. Real property includes land and any other property directly attached to it, such as buildings or plants. However, personal property is movable and consists of assets such as cars or books.
21. The right of an owner or her heirs to the property upon the death of a life tenant is called a remainder.
22. The bank which lends money in exchange for a mortgage on the borrower’s house is considered to be the mortgagee.
23. Cole’s right to enter Plath’s property to reach the boat ramp is an easement by implication.
24. Under the common law, a finder of treasure trove is entitled to keep the treasure trove unless the original owner reclaims it.
25. Accession occurs when a person uses labor and/or materials to add value to personal property belonging to another.
26. A fee simple absolute is a possessory interest in land. It includes all the rights on a property and presents absolute ownership over it.

Personal Information

27. Even though government bodies have a policy favoring transparency and broader dissemination of public records, protected health information (“PHI”) contained in patients’ medical records at a state-owned hospital should be redacted from public records delivered to requesters under the Freedom of Information Act (“FOIA”). Certain categories of information are exempt from disclosure under the FOIA. They include personal information that would include the invasion of personal privacy when disclosed (John & James, 2014). Therefore, a person’s medical records should be exempted from disclosure.
28. In addition to contacting the government body directly, requestors of public records can search for a commercial search firm or browse commercial indexes, often for a fee. However, such records searches may be subject to an additional duty to inform the subject that their information is being released to an individual or organization. An example of a record subject to this type of regulation would include a detailed report, showing the names and yearly salaries of the highest-paid Michigan State Troopers employed by the Michigan State Police. The privacy act provides that personal information collected for one purpose cannot be disclosed without notice to or consent of the subject of the information (Committee on Government Reform, 2005). Information on a person’s salary is private information.
29. Publicly available information is contrasted with public records, in that it is widely disseminated, generally well-known and understood by people throughout society, and/or published or broadcasted to the public for mass consumption. While public records are of information that is recorded and stored by the government and is accessible to the public.
30. A person looking for enrollment information and descriptive statistics concerning student outcomes at Kaskaskia College would find the College’s institutional profile on the Illinois Board of Higher Education.
31. If you wished to find the names of campaign contributors who are financially supporting a candidate for State Senator in Illinois, the Illinois State Board of Elections website contains information and reports concerning the candidate’s committee.
32. If you needed to obtain information about the expenditures, revenues, and indebtedness of your local (town) government, you would find this information in the Annual Financial Report, which can be found by accessing the Local Government Warehouse portal on the Illinois Comptroller’s Office website. An annual financial report summarizes the revenues, expenditures, and debts of local governments (Illinois Government, 2020). It helps to ensure integrity in local government financial activities.

References

Ballantine, H. W. (1918). Title by Adverse Possession. Harvard Law Review, 32(2), 135. https://doi.org/10.2307/1327641

Committee on Government Reform. (2005). A Citizen’s Guide on Using the Freedom of Information Act and the  Privacy Act of 1974 to Request Government Records. In fas.org (pp. 22–27). Retrieved from https://fas.org/sgp/foia/citizen.html

Illinois Government. (2020). Annual financial reports for local government units. Retrieved May 8, 2020, from www2.illinois.gov website: https://www2.illinois.gov/services/IOC/annual-financial-report-local-government-units

Jalil, A., & Mian, N. (2012). The nature, concept and epistemological development of the law of bailment: A prolegomenon the nature of the law of bailment. In Law and Commerce (1st ed.). Retrieved from https://www.researchgate.net/publication/272406259

John, M., & James, E. (2014). General application of the FOIA (p. 2). Retrieved from Winnsboro: Office of the Attorney General website: http://2hsvz0l74ah31vgcm16peuy12tz.wpengine.netdna-cdn.com/wp-content/uploads/2014/12/James-J.-OS-9757-FINAL-Opinion-12-4-2014-Crosswell-00504360xD2C78.pdf

Raz, I. (2018). Use it or lose it: Adverse possession and economic development (pp. 1–73). Retrieved from https://www.eh.net/eha/wp-content/uploads/2017/08/Raz.pdf

Smith & Renz. (1992, November 17). Court of Appeals of Texas. Retrieved May 8, 2020, from casetext.com website: https://casetext.com/case/smith-v-renz

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