Exam 30: Personal Property and Bailment

Mislaid property is distinguished from lost property by the intent of the true owner.

The difference between an inter vivos gift and a gift causa mortis is that the inter vivos gift is made during the donor's lifetime and a gift causa mortis is a gift is made after the donor's lifetime by the donor's estate.

The element that distinguishes a contract from a gift is:

Discuss whether or not the following common transactions are bailments and if so,who is the bailor/bailee,and what type of bailment is involved: A)Renting storage space in Farmer's Frank's huge barn to keep your classic car out of the snow and ice of winter.The rental agreement provides for $100/month rent and Farmer Frank has the only access to the barn. B)Hiring a moving company to move your belongings to a new residence. C)Loaning your lawn mower to your neighbor. D)Parking your car in a "park and lock" parking lot.

Ed wants to give Howard his old car,but Howard says he doesn't want it.Howard later reconsiders and tells Ed he does want the car.His previous repudiation means there is no gift,and Howard has no rights in the car.

Jake owns an old piece of exercise equipment.He has been using the equipment merely to hang his clothes on,so Jake decides to get rid of the thing.He takes the unused exercise machine to the landfill and throws it off the back of the truck.Maggie,a teenager,is at the landfill rummaging for useful items.Maggie sees the exercise equipment and decides it is just the thing to give her sister for Christmas,so she decides to take it home.As she is loading it into the back of her pickup truck,Jake stops and tries to get it back.The landfill owner sees the commotion and decides he would like to have the equipment as well.Who has the best rights in the exercise equipment?

A bailment was created for the parties' mutual benefit.This means that the bailee must use ordinary care with the property.

Bill was shopping at the mall.As he was walking to Tonne's Department Store,his wallet fell out of his pants.While trying on a new suit,Bill left his leather jacket in the change room.Sue found Bill's wallet.Arnie,a sales associate,found his coat.What kind of found property is Bill's wallet? What kind of property is his jacket? What rights do Sue and Arnie have in the found property?