If the Property Used in a Business Has Physical Substance

question 29

Short Answer

If the property used in a business has physical substance and is not real estate it is-----------property.

Understand the concept of property ownership, including tangible and intangible assets.

Distinguish between different forms of property acquisition and their legal implications.

Identify the legal requirements for a bailment to take place, including delivery of property and the return or disposal agreement.

Understand the distinction between lost, abandoned, converted, and mislaid property.