Legal Studies Modules 5 and 6 Review

Private Property

Property owned by individuals or corporations.

Common Property

Property shared by specific groups.

Public Property

Property owned by the government for public use.

Open-Access Property (res nullius)

Property that is not owned and available for unrestricted use, such as oceans.

Personal Property

Movable items like goods, vehicles, and equipment.

Real Property

Immovable assets such as land and structures.

Title

The legal right to control property, including usage, leasing, and transfer.

Bundle of rights

The rights associated with ownership, including the rights to use, sell, or restrict others’ use.

Mislaid Property

Property that is intentionally placed but forgotten; held by the premises owner.

Lost Property

Property that is unintententionally parted with; the finder has rights unless claimed by the original owner.

Abandoned Property

Property that is deliberately discarded; the finder can claim it.

Treasure Trove

Concealed property that is presumed owned by no one due to the original owner's unknown status.

Adverse Possession

Possession over a statutory period without the owner’s challenge can result in ownership.

Bailment

An arrangement where the owner entrusts property to another for temporary custody.

Fee Simple Absolute

Complete ownership of property without conditions.

Fee Simple Defeasible

Conditional ownership of property.

Life Estate

Ownership limited to the holder’s lifetime.

Leasehold Estate

Temporary rights to property, often in landlord-tenant relationships.

Eminent Domain

The government's right to take private property for public use with just compensation.

Trade Secrets

Information with economic value protected through secrecy efforts.

Trademarks

Brand identifiers like logos and slogans that are legally protected.

Copyrights

Legal protections for original works fixed in a tangible medium.

Fair Use Doctrine

Allows for limited use of copyrighted material for criticism, parody, or education.

Patents

Legal protections for inventions or designs that are novel, non-obvious, and useful.

Actus Reus

The physical act of committing a crime.

Mens Rea

The mental intent to commit a crime.

Self-defense

The act of protecting oneself with reasonable force.

Insanity

A defense indicating lack of capacity to understand one’s actions.

Entrapment

Being coerced by law enforcement into committing a crime.

Fraud

Deceptive practices such as Ponzi schemes.

RICO Act

Legislation addressing organized crime and white-collar offenses.

Insider Trading

Illegally trading based on non-public information.

Probable Cause

The requirement for a warrant, indicating reasonable grounds for search.

Exclusionary Rule

Prohibits the use of unlawful evidence in court.

Corporate Liability

Companies can be held responsible for employees’ criminal acts done within the scope of their employment.