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Warm Up

Warm Up. What is the difference between real and personal property? Download 9.02 Part B notes. Real and Personal Property Objective 09.02 Part B Compare the legal rights of acquisition, transferal and renting/leasing of real or personal property. BAILMENTS. Bailment.

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Warm Up

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  1. Warm Up • What is the difference between real and personal property? • Download 9.02 Part B notes

  2. Real and Personal PropertyObjective 09.02 Part B Compare the legal rights of acquisition, transferal and renting/leasing of real or personal property.BAILMENTS

  3. Bailment • An agreement created by the temporary delivery of personal property by the owner to someone who is not the owner for a specific purpose. • Both parties agree that the property will be returned to the bailor. • Bailee - has in their temporary possession property that belongs to someone else. • Bailor – owner of property who gives up possession to someone else temporarily.

  4. Examples of Bailments • Leather jacket left at a dry cleaners • Vehicle delivered to parking valet • Goods transported by common carrier • Truck taken to dealership for service check • Diamond ring taken to jeweler for cleaning or repair • Leaving your clothes in dressing room while trying on new sweater • Goods delivered to a consignment shop

  5. Mutual Benefit Bailments • Invokes the duty of ordinary care on the bailee • Results from a contract (for service, repair, storage, rental) with consideration exchanged • Both bailor and bailee receive benefit • A pledge as security for a loan is also a mutual benefit bailment • Most bailments are mutual benefit

  6. Bailment by Necessity • Implied by law, a customer must give up possession of property. • Example: When you rent skates and leave your own shoes while you skate • Example: When you leave your clothes temporarily in the dressing room while you try on a new outfit

  7. Other Bailments • Gratuitous Bailment • Free of charge (lend something to a friend). • Only one party benefits • Extraordinary bailment • A common carrier or hotel is strictly liable for damage to bailed goods

  8. Rights and Duties of Bailee • Rights: • To hold a Mechanic’s Lien -the right to retain property of another, if not paid for service rendered • To expect payment for services rendered • Duties: • Of reasonable care and protection of goods while in custody of bailee • To comply with terms of bailment

  9. Rights and Duties of Bailor • Rights • to have goods protected • to receive service as agreed upon • to have goods returned in timely manner • Duties • to pay for service provided • to warn of dangers or special care required • to pick up goods in a reasonable time

  10. Tortious Bailee • What is a tortious bailee? • A party who wrongfully retains lost property or stolen property • A party who wrongfully uses a bailed article for a purpose other than that agreed upon by the parties • Examples: • Student who finds necklace and knows who it belongs to but does not return it to the rightful owner • Parking valet who takes your hot car on a joy ride • Dry cleaner’s employee who wears your leather jacket

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