IPCL Summary Notes (Mark 83)

Description

Covers all topics in course. Includes commentary from class, slides and textbook. Topic 1: The Concept and Function of “Property” and Intro to Real Property 2 Introduction to general property concepts: 2 Tenures and Estates 9 Native Title 14 Legal and Equitable Interests in Land 18 Process for proving property rights in relation to land 20 Old System and Torrens Title 28 Topic 2: Introduction to Choses in Possession 32 Taxonomy: 33 Identifying legal interests in choses in possession 34 Concept of delivery: Gamers Motor Centre 37 Transferring ownership through losing and finding 37 Transferring ownership by gift: Inter Vivos 39 Donatio mortis causa – gift on account of death 41 Transferring ownership – by sale (under Sale of Goods Act 1923) 42 Working out when there is such a contract sale of goods 44 Giving effect to the terms of the contract: 45 When does property pass under a contract of sale? 46 Engaging in dealings in choses in possession: transferring possession by bailment 49 Is there a bailment? Concept of bailment: categorisation? 50 Topic 3: Personal Property – Introduction to Choses in Action 54 What is a chose in action? 54 Taxonomy of personal property 55 Identifying a chose in action 55 Assignability 58 Equitable choses in action 67 Trust v Agency 70 Trust v Contract 71 Creating the trust: certainty of intention to create a trust 72 Interest under the trust 73 Suggest Structure 74 Interest in unadministered deceased estates 75 A Livingston right 75 Topic 4: Assignment and Disposition of Interests 80 Topic 5: Priority Regimes 101 Priorities under Sale of Goods Act 101 General law priority rules: Contests between legal and Equitable Interest 108 Prior equitable; subsequent legal 110 Priorities between equitable interests 113 Topic 5B: Commercial Dealings as Security Interests over Property 119 Suggest analytical framework 121 Types of Security Interest over Personal Property 122 Property definitions: s 10 123 Definition of a security interest 124