Case Scenario : Property - Assignment Example

Considering the law, the attributes of the property are: possession, provision and utilization . So, as far as between the Greens and their nephew Charles there is no contract, only a letter, the Greens are free to change their mind and give the coin collection to the coin collector’s club.The property has an absolute, exclusive and perpetual character . The absolute character refers to the owner’s right that is opposable to everyone. The exclusive character refers to the fact that this right is exerted only by its holder.

The perpetual character refers to duration that the property has, duration that will not be extinguished through disuse. Through another point of view, a moral one, the Greens should give Charles the coin collection, considering that Charles is a close relative, their nephew. 2 . The Greens are thinking about buying a dry cleaning business as an investment . They are concerned about liability if their employees should lose or damage a customer ‘s clothing . Is this a bailment? If so, what kind?

What is the liability, if any? Once they ( the Greens ) buy a dry cleaning business, they must offer to their customers a bailment in case one of their products will be damaged. Once they become a corporate body, by founding a dry cleaning business , they will have lots of liabilities: they are responsible for everything concerning their services indifferently on whom ( the Greens or the employees) caused an injury to property. The Greens will be answerable for every unlawful action..

caused a injury to property . The Greens will be answerable for every unlawful action that took place regarding their business .3 . Upon your recommendation , the Greens buy the dry cleaning business . How should they take title to the land and building Compare the types of real property they may encounter when starting the dry cleaning business . Explain what items are considered fixtures in the building .The alienate and the obtaining of the land is being trough a deed . The types real property are : the right of beneficial ownershipthe right of use the right of easementthe right of building and plantationsThe right of beneficial ownership is the right that a person have concerning the assets from another's one property , with the duty of conservation of the assets substance .

The right of beneficial ownership can be made on mobile or immobile assets . The right of use refers to the fact that its owner can obtain the right of using the assets for his own , or his family +interest . The right of easement refers to a immobile utility , immobile that has another owner . The right of building and plantations refers to a person right of property concerning the buildings and the plantations or any other works that take place on a land that belongs to another person .4 . The Greens want to leave Greenacre to their daughter Mary , as long as she lives there .

If she moves , the property will go to their son William . William may live there for the rest of his lifetime . Than the property will go to the historical society to be used as a museum for 100 years . A trust valued at $ 10.000.000 will be set up to maintain the property upon the Greens ' deaths . Who should be the trustee What type of