Legl 2700 Test 3 (C 7, 10, 11, & 13 Vocab + Cases + Lecture Notes) Verified & Updated

Legl 2700 Test 3 (C 7, 10, 11, & 13 Vocab + Cases + Lecture Notes) Verified & Updated accession - Answer ️️ Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams. (something added) Adverse Possession - Answer ️️ A person takes possession & use of a property belonging to another. Possession must be open, notorious, hostile & uninterrupted for a certain period of time. Artisan's Lien - Answer ️️ A possessory lien given to a person who has made improvements and added value to another person's personal property as security for payment for services performed. attachment - Answer ️️ -secured party has given value -debtor owns collateral -security agreement is given Bailee - Answer ️️ the party who acquires possession, but not the title, of personal property by one party to another, under agreement Bailment - Answer ️️ the transfer of possession but not the title of personal property by one party to another, under agreement Bailor - Answer ️️ the party who gives up possession, but not the title, of personal property in a bailment buyer in the ordinary course of business - Answer ️️ a buyer who buys from someone who ordinarily sells such goods in his or her business -has priority over a perfected security interest collateral - Answer ️️ A security pledged for the repayment of a loan.