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Bailee
Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property ("chattel") for a time, but retains ownership. The owner who surrenders custody to a property is called the "bailor" and the individual who accepts the property is called a "bailee". The bailee is the person who possesses the personal property in trust for the owner for a set time and for a precise reason and who delivers the property back to the owner when they have accomplished the purpose that was initially intended. General Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership. To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel. Although a bailment relationship is ordinarily created by contract, there are circumstances where lawful possession by the bailee creates a bailment relationship without an ordinary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trover
Trover () is a form of lawsuit in common-law countries for recovery of damages for wrongful taking of personal property. Trover belongs to a series of remedies for such wrongful taking, its distinctive feature being recovery only for the value of whatever was taken, not for the recovery of the property itself (see replevin). Overview Although actions in trover can be traced to the time of Bracton, and later Edward I of England, it became more clearly defined later during the reign of Henry VI of England, 1422–1461 and 1470–1471. Action in trover became a mature legal doctrine during the reign of Elizabeth I of England, 1558–1603. Early trover cases involved the keeping or taking of a bailment by the bailee (the person charged to hold the property with "ordinary care"). Others concerned the use of lost chattels found by another and determining who was the real owner. Early on, there was difficulty in dealing with situations where chattels held by a bailee were used by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trover
Trover () is a form of lawsuit in common-law countries for recovery of damages for wrongful taking of personal property. Trover belongs to a series of remedies for such wrongful taking, its distinctive feature being recovery only for the value of whatever was taken, not for the recovery of the property itself (see replevin). Overview Although actions in trover can be traced to the time of Bracton, and later Edward I of England, it became more clearly defined later during the reign of Henry VI of England, 1422–1461 and 1470–1471. Action in trover became a mature legal doctrine during the reign of Elizabeth I of England, 1558–1603. Early trover cases involved the keeping or taking of a bailment by the bailee (the person charged to hold the property with "ordinary care"). Others concerned the use of lost chattels found by another and determining who was the real owner. Early on, there was difficulty in dealing with situations where chattels held by a bailee were used by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bailment
Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property ("chattel") for a time, but retains ownership. The owner who surrenders custody to a property is called the "bailor" and the individual who accepts the property is called a "bailee". The bailee is the person who possesses the personal property in trust for the owner for a set time and for a precise reason and who delivers the property back to the owner when they have accomplished the purpose that was initially intended. General Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership. To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel. Although a bailment relationship is ordinarily created by contract, there are circumstances where lawful possession by the bailee creates a bailment relationship without an ordinary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coggs V Bernard
''Coggs v Bernard'' (1703) 2 Ld Raym 909 (also ''Coggs v Barnard'') is a landmark case both for English property law and contract law, decided by Sir John Holt, Chief Justice of the King's Bench. It sets out the duties owed by a bailee – someone in possession of property owned by another. Facts William Bernard undertook to carry several barrels of brandy belonging to John Coggs from Brooks Market, Holborn to Water Street, just south of the Strand (about half a mile). Bernard's undertaking was gratuitous; he was not offered compensation for his work. As the brandy was being unloaded at the Water Street cellar, a barrel was staved and 150 gallons were lost. Coggs brought an action on the case against Bernard, alleging he had undertaken to carry the barrels but had spilled them through his negligence. Judgment Holt CJ at the London Guildhall found that Mr Bernard, the defendant, was negligent in carrying the casks and was therefore liable as a bailee. Holt made clear that Bern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conversion (law)
Conversion is an intentional tort consisting of "taking with the intent of exercising over the chattel an ownership inconsistent with the real owner's right of possession". In England & Wales, it is a tort of strict liability. Its equivalents in criminal law include larceny or theft and criminal conversion. In those jurisdictions that recognise it, criminal conversion is a lesser crime than theft/larceny. Examples of conversion include: 1) Alpha cuts down and hauls away trees on land s/he knows is owned by Beta, without permission or privilege to do so; and 2) Gamma takes furniture belonging to Delta and puts it into storage, without Delta's consent (and especially if Delta does not know where Gamma put it). A common act of conversion in medieval times involved bolts of cloth that were bailed for safekeeping, which the bailee or a third party took and made clothes for their own use or for sale. Many questions concerning joint ownership in enterprises such as a partnership be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. ''Stare decisis'', the principle that cases should be decided according to consistent principled rules s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest In Securities
{{Unreferenced, date=November 2007 An interest in securities is the asset of a client for whom an intermediary holds securities on an unallocated basis, commingled with the interests in securities of other clients. The distinction between securities and interests in securities is often overlooked in practice. Interests in securities are always intangible. The only evidence of them comprises electronic records. Interests in securities confer property rights in relation to the underlying securities, and in some cases these underlying securities comprise tangible bearer instruments. However, this does not mean that interests in securities are themselves tangible. They are unallocated, and therefore do not attach to any tangible asset. Legal consequences of being intangible An important legal consequence of the intangible nature of interests in securities is that they, as choses in action, are incapable of possession at common law. Interests in securities cannot be the subjec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bail
Bail is a set of pre-trial restrictions that are imposed on a suspect to ensure that they will not hamper the judicial process. Bail is the conditional release of a defendant with the promise to appear in court when required. In some countries, especially the United States, bail usually implies a bail bond, a deposit of money or some form of property to the court by the suspect in return for the release from pre-trial detention. If the suspect does not return to court, the bail is forfeited and the suspect may possibly be brought up on charges of the crime of failure to appear. If the suspect returns to make all their required appearances, bail is returned after the trial is concluded. In other countries, such as the United Kingdom, bail is more likely to consist of a set of restrictions that the suspect will have to abide by for a set period of time. Under this usage, bail can be given both before and after charge. For minor crimes, a defendant may be summoned to court wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Escheat
Escheat is a common law doctrine that transfers the real property of a person who has died without heirs to the crown or state. It serves to ensure that property is not left in "limbo" without recognized ownership. It originally applied to a number of situations where a legal interest in land was destroyed by operation of law, so that the ownership of the land reverted to the immediately superior feudal lord. Etymology The term "escheat" derives ultimately from the Latin ''ex-cadere'', to "fall-out", via mediaeval French ''escheoir''. The sense is of a feudal estate in land falling-out of the possession by a tenant into the possession of the lord. Origins in feudalism In feudal England, escheat referred to the situation where the tenant of a fee (or "fief") died without an heir or committed a felony. In the case of such demise of a tenant-in-chief, the fee reverted to the King's demesne permanently, when it became once again a mere tenantless plot of land, but could be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abandonment (legal)
In law, abandonment is the relinquishment, giving up or renunciation of an interest, claim, civil proceedings, appeal, privilege, possession, or right, especially with the intent of never again resuming or reasserting it. Such intentional action may take the form of a discontinuance or a waiver. This broad meaning has a number of applications in different branches of law. In common law jurisdictions, both ''common law abandonment'' and ''statutory abandonment'' of property may be recognized. Common law abandonment is "the relinquishment of a right n propertyby the owner thereof without any regard to future possession by himself or any other person, and with the intention to or desert the right...." or "the voluntary relinquishment of a thing by its owner with the intention of terminating his ownership, and without he intention ofvesting ownership in any other person; the giving up of a thing absolutely, without reference to any particular person or purpose...." By contrast, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Of Care
In tort law, the standard of care is the only degree of prudence and caution required of an individual who is under a duty of care. The requirements of the standard are closely dependent on circumstances. Whether the standard of care has been breached is determined by the trier of fact, and is usually phrased in terms of the reasonable person; this is sometimes labeled as the "reasonable physician standard." It was famously described in ''Vaughn v. Menlove'' (1837) as whether the individual "proceed dwith such reasonable caution as a prudent man would have exercised under such circumstances". Professional standard of care In certain industries and professions, the standard of care is determined by the standard that would be exercised by the reasonably prudent manufacturer of a product, or the reasonably prudent professional in that line of work. Such a test (known as the " Bolam Test") was used to determine whether a doctor was liable for medical malpractice before the 2015 U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration
Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). The concept has been adopted by other common law jurisdictions. The court in '' Currie v Misa'' declared consideration to be a “Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility”. Thus, consideration is a promise of something of value given by a promissor in exchange for something of value given by a promisee; and typically the thing of value is goods, money, or an act. Forbearance to act, such as an adult promising to refrain from smoking, is enforceable if one is thereby surrendering a legal right. Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A contracts to buy a car from B for $5,000, A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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