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WSU BLAW 210 - Introduction to Property

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BLaw 210 1nd Edition Lecture 12 Outline of Last Lecture I. WillsII. Requirements for Making a WillIII. Definition of a ContractIV. Sources of Contracts LawOutline of Current Lecture I. Two definitions of propertyII. Classification of propertyIII. Incidents of ownershipIV. Intangible personal property Current LectureI. Two definitions of propertya. Property is anything that can be ownedi. Personalii. Realiii. Intellectualb. Property is anything that a person may possess and use, and whose possession and use one person may transfer to anotheri. Landii. Objectiii. Ideac. Property is not the thing used or possesses itself, but rather, the legal rights to its use, possession and transferII. Classification of property a. Property is usually classified in three waysi. By whether it is tangible or intangibleii. By whether it is personal or realiii. By whether it is public or private III. Incidents of ownershipThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.a. The incident of property ownership are the rights of possession, use and transferi. Possessions: the right to physically hold or occupy propertyii. Use: the right to do with property anything allowed by law subject to any limitations the owner may agree to iii. The right to transfer property is the right to sell, give, or otherwise, pass the property to someone else IV. Intangible personal propertya. Property that has no defined location and it cannot be touched i. Contractual property: a type of intangible personal property since it consists of promises made by one party to perform some duty for another ii. Intellectual property: a type of intangible personal property since it’s a product of the human


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WSU BLAW 210 - Introduction to Property

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