Legal Studies Modules 5 and 6 Review

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35 Terms

1

Private Property

Property owned by individuals or corporations.

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2

Common Property

Property shared by specific groups.

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3

Public Property

Property owned by the government for public use.

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4

Open-Access Property (res nullius)

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

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5

Personal Property

Movable items like goods, vehicles, and equipment.

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6

Real Property

Immovable assets such as land and structures.

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7

Title

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

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8

Bundle of rights

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

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9

Mislaid Property

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

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10

Lost Property

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

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11

Abandoned Property

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

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12

Treasure Trove

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

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13

Adverse Possession

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

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14

Bailment

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

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15

Fee Simple Absolute

Complete ownership of property without conditions.

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16

Fee Simple Defeasible

Conditional ownership of property.

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17

Life Estate

Ownership limited to the holder’s lifetime.

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18

Leasehold Estate

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

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19

Eminent Domain

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

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20

Trade Secrets

Information with economic value protected through secrecy efforts.

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21

Trademarks

Brand identifiers like logos and slogans that are legally protected.

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22

Copyrights

Legal protections for original works fixed in a tangible medium.

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23

Fair Use Doctrine

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

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24

Patents

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

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25

Actus Reus

The physical act of committing a crime.

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26

Mens Rea

The mental intent to commit a crime.

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27

Self-defense

The act of protecting oneself with reasonable force.

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28

Insanity

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

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29

Entrapment

Being coerced by law enforcement into committing a crime.

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30

Fraud

Deceptive practices such as Ponzi schemes.

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31

RICO Act

Legislation addressing organized crime and white-collar offenses.

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32

Insider Trading

Illegally trading based on non-public information.

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33

Probable Cause

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

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34

Exclusionary Rule

Prohibits the use of unlawful evidence in court.

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35

Corporate Liability

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

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