Discussion #1

Discussion #1

What are the underlying reasons for the law to continue to make distinctions between real and personal property, intangible and tangible property?

Book Reference:  Law For Business by Ashcroft, Ascroft and Patterson and is published by Cengage Learning. Either the 18th or 19th edition.  Discussion is related to Chapter 14: Nature of Personal Property, Chapter 15: Special Bailments, Chapter 16: Sales of Personal Property.

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Discussion

What are the underlying reasons for the law to continue to make distinctions between real and personal property, intangible and tangible property?

            The personal and real property concepts can be traced back to the English Common Law and it was centered on the differentiation between the immovable and movable property. The real property is permanent, thus considered to be superior to the personal property. For this reason, it is imperative for the law to differentiate them because of their nature and the level of control the owners have over them. Therefore, the law stipulates specific guidelines regarding the manner in which the government should deal with them.

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