PANHA CHIET UNIVERSITY THE PERSONAL PROPERTY AND BAILMENT SAM Sacha ច ាPage 1Contents Part One i/. Introduction I.PERSONAL PROPERTY…………………………………………. .2 I.1 SALES OF GOODS………………………………………………. 3 I.2 WARRANTIES…………………………………………………….6 II.BAILMENT…………………………………………………….......9 Part Two SALE OF GOOD …………………..…………… ...13WARRAINTRIES រ …………………………………14BAILMENTS ើ …………………………………………………….15
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PANHA CHIET UNIVERSITY THE PERSONAL PROPERTY AND BAILMENT
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Introduction
This book concentrates on the personal property and bailment from common
law (Including property law, contract Information, sale of good, real property etc.). It
has showed some definition and vocabulary that related to personal property and
bailment; how to use and implied contract to sell.
I. PERSONAL PROPERTY
Generally speaking, Personal Property is mean having to with movable property
that is anything as opposed to land and building etc. Personal property is generally
considered private property that is movable, as opposed to real property or real estate.
In the common law systems personal property may also be called chattels or
personalty. In the civil law systems personal property is often called movable
property or movables - any property that can be moved from one location to another.
This term is in distinction with immovable property or immovable, such as land and
buildings. Movable property on land, that which was not automatically sold with the
land, included for example larger livestock (wildlife and smaller livestock like
chickens, by contrast, was often sold as part of the land). There are two more that
divided from the personal property, It is called Tangible personal property and
Intangible personal property. Tangible personal property is the property, either real
or personal, capable of being possessed. Tangible property is capable of being
perceived by the senses, as distinguished from intangible property or incorporated
right in property, such as franchises, copyrights or easements. For taxation purposes,
tangible property generally refers to personal property (personalty) that has a value of
its own. Though to Intangible personal property is the property that is really a right
rather than a physical objects , for example, bank account, stock, copyright, good of
will of a business, ownership interests in partnership corporations, and claims against
others both in the tort and in contract. These in interests and claims , including checks
and promissory notes , are also called chose in action which means a claim or debtupon which recovery may be made in a lawsuits; not a present possession, but merely
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a right to sue, becoming a possessory thing only upon successful completion of a
lawsuits or which means evidences of the right to property but not the property itself.
Something that was once a movable items but that is now attached to the real
property in such a way that its removable would damage the property, and that is thus
considered part of the realty; an interest in land etc; It is known as a fixture and
becomes part of the real property when personal property is physically attached to the
real property. A built-in dish washer or a permanently installed lighting until are
example, of fixtures. In contrast, property placed on or added or rented real estate by
a tenant to aid the tenant in conducting a trade or business, such as machinery, that is
necessary to carry on the trade or the business to real property, it is called a trade
fixture, does not become part of the real property, and may be removed by the
business tenant of the tenancy.
I.1 SALES OF GOODS
Goods are known as the tangible personal property and may be defined as
anything that is movable, under the Uniform Commercial Code which is a law inevery state that governs different types of commercial transactions. The meaning of
Good In general, items of merchandise, supplies, or raw materials. In law of sales, all
things (Including specially manufactured goods) which are movable at the time of
identification to the contract for sale, other than the money in which the price is to be
paid, investment securities and thing in action. Also includes the unborn young of
animals and growing crops and other identified thing attached to realty as fixture, and
all thing which are treated as movable for purposes of a contract of storage or
transportation. In secured transactions, all thing which are movable at the time the
security interest attaches or which are fixture, but money, documents, Instruments,
account, chattel paper, general Intangible or minerals or the like (Including oil and
gas) before extraction.
If they are not yet in existence (such as fish not yet caught) , they are known
as future goods. Future goods are the goods which form the subject of a contract of
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sale may be either existing goods, owned or possessed by the seller, or goods to be
manufactured or acquired by the seller after the making of the contract of sale.
If they are types of goods that are usually sold by weight or measure and are
stored in bulk quantities, such as grain or oil, they are called fungible goods. Fungible
goods are goods that are interchangeable for commercial purposes, and have
essentially identical properties. When a producer mixes originating and non-
originating fungible goods, so that physical identification of originating goods is
impossible, the producer may determine origin of those goods based on any of the
standard inventory accounting methods (e.g., FIFO, LIFO) specified in the Uniform
Regulations. These provisions apply equally to fungible materials that are used in the
production of a good.
For example, Company Y of Mexico supplies clips to airplane manufacturers
throughout North America. Some of the clips Y supplies originate in Mexico and
others are made in China. All of the clips are of identical construction and are
intermingled at Y's warehouse so that they are indistinguishable. On January 1,
Company Y buys 3000 clips of Mexican origin; on January 3 it buys 1000 clips ofChinese origin. If Company Y elects FIFO inventory procedures, the first 3000 clips
it uses to fill an order are considered Mexican, regardless of their actual origin. These
are defined as goods of which any unit is the same as any like unit.
Document of title to goods includes any bill of lading, dock warrant,
warehouse-keepers’ certificate, and warrant or order for the delivery of goods, and
any other document used in the ordinary course of business as proof of the possession
or control of goods, or authorizing or purporting to authorize either by endorsement
or delivery, the possessor of the document to transfer or receive goods thereby
represented. A sale is defined by the Uniform Commercial Code as the passing of
title from the seller to the buyer for a price. Sometimes a bill of sale is given by the
seller to the buyer, which is a signed writing evidencing the transfer of property from
one person to another. The bill of sale is a relatively simple legal document that
transfers the title of an asset from one individual or entity to a new owner. In general,
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Bailment can arise in a number of situations, and is often described by the type
of relationship that gave rise to the bailment. Several common distinctions are:
Voluntary vs. Involuntary. In a voluntary bailment, the bailee agrees to
accept responsibility for possession of the goods. In an involuntary bailment, the
bailee has possession of the goods without intent to do so. A common situation that
creates voluntary bailment is when a person leaves goods with someone for service
(e.g., dry cleaning, pet grooming, car tune-up). The bailee must hold the goods safe
for the bailor to reclaim within a reasonable time. An involuntary (or constructive)
bailment occurs when a person comes into possession of property accidentally or
mistakenly, as where a lost purse or car keys are found and need to be protected until
properly redelivered – a bailment is implied by law.
For consideration vs. gratuitous. NO: If a person agrees to accept a fee
or other good consideration for holding possession of goods, they are generally held
to a higher standard of care than a person who is doing so without being paid (or
receives no benefit). Consider a paid coat-check counter versus a free coat-hook by
the front door, and the respective obligations of the bailee. Some establishments even post signs to the effect that "no bailment" is created by leaving your personal
possessions in their care, but local laws may prevent unfair enforcement of such
terms (especially attended car parks).
Fixed term vs. indefinite term. A bailor who leaves property for a fixed
term may be deemed to have abandoned the property if it is not removed at the end of
the term, or it may convert to an involuntary bailment for a reasonable time (e.g.,abandoned property in a bank safe, eventually escheats to the state, and the treasurer
may hold it for some period, awaiting the owner). However, if there is no clear term
of bailment agreed upon, the goods cannot be considered abandoned unless the bailee
is given notice that the bailor wishes to give up possession of the goods. Frequently,
in the case of storage of goods, the bailee also acquires a contractual or statutory right
to dispose of the goods to satisfy overdue rent; a lawful conversion of bailed goods.
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A mutuum was a loan for consumption. It was the oldest contract in re,
growing in importance after 326 BC when the lex Poetalia was passed. It could be
used by people without the right of commercium – a package of rights to participate
in the ius civile and to undertake remedies. It involved the delivery of certain types of
fungible goods, such as money, food, and drink. Ownership was transferred, as was
possession. In a strict sense then, because ownership passed, it should not be
considered a loan. The mutuum obliged the borrower not to return the thing itself,
because its use would involve consumption, but a similar thing in quantity, quality
and size.
The lender had a condictio action for the value of the thing if a similar
thing was not returned as described. It was stricti iuris ("strict law") – the lender
could not claim interest] Despite this, it became the standard arrangement for
moneylenders in the Roman republic. Interest would instead have to be given in a
stipulatio, an additional contract. Rates of interest were heavily regulated by the state.
As a mutuum did not place on the borrower any specific date on which to return the
equivalent thing, this would also be given in a stipulatio if required. In the later law,the stipulatio replaced mutuum completely.
The borrower was bound to return the equivalent thing. As owner, he
bore liability for loss, theft, or damage; they were irrelevant to his liability for the
thing. Two exceptions were made, where repayment would be dependent on the
success of the operation: the financing of a cargo ship, and the sponsorship of a
professional athlete. Neither was liable if they did not succeed; the risk was born bythe lender. Mutuum was unilateral and did not place the lender under any obligations
or duties.
It is called a mutual benefit bailment when both the bailor and the bailee
benefit from the transactions. For example, when someone leaves a watch with a
jeweler to be repaired, the watch owner receives the benefit of having the watch
repaired, and the jeweler receives the benefit of being paid for the service rendered.
In this type of bailments, the bailee owner a duty to use ordinary care toward the
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property and would be responsible for ordinary negligence if the goods are lost or
damaged.
one that occurs when care and custody of the bailor’s property is accepted by
the bailee without charge and without any consideration or expectation of benefit or
one in which no consideration is given by one of the parties in exchange for the
benefit bestowned by the other. It may be either for the sole benefit of the bailor or
the bailee. For example, if someone stores his or her car in a garage for safekeeping
while away on a trip, it would be a bailment for the sole benefit of the bailor. In this
type of bailment, the bailee owes a duty to use only slight care over the property and
would be responsible only for gross negligence, because he or she is receiving no
benefit. When someone loans a car or other item to friend, conversely, it is a
bailment for the sole benefit of the bailee. Here, the bailee owes a duty to use great
care with the property and would be responsible for slight negligence in the event of
loss or damage to the bailed property.
A tortious bailee is one who has wrongful possession of another’s goods. For
example, a person who takes another’s goods without authority, or keep another’sgoods after they should be returned, or used another’s goods for a purpose other than