Reading: (CU2 M2) Personal Property
Read Section 1. Books, cars, shares of stock, and accounts receivable are all personal property. Ask yourself how these things are the same. How are they different? Note also that some items that are personal property can be considered real property under certain circumstances. What are these circumstances? We all know that property can be transferred. Make sure you understand the various ways that ownership of personal property can be transferred. The text box entitled “Hyperlink: Finders Keepers?” and the associated links will help you understand these concepts. It is also important to know what legal rights and obligations are at stake when possession rather than ownership in personal property is transferred.
Please read The Legal and Ethical Environment of Business: “Chapter 8: Section 1: Personal Property” (Links to an external site.)Links to an external site. (PDF)