Examples
- A business buys a vehicle and obtains financing. The company purchasing the vehicle becomes the registered owner and has both possession and right of possession. The financial organization providing financing would become the lienholder and would have right of property. If the business that bought the vehicle then rented it to someone, that individual would then have possession but would not have right of possession. The company renting the vehicle to them could repossess the vehicle, for example if they hold the vehicle past the contract period. Also, if the rental company missed payments to the lienholder, the lienholder could repossess the vehicle from the person having possession as well.
- I purchase a pen at a store. I have all three attributes (possession, right of possession and right of property). If I loan the pen to someone, they have only possession. If they fail to give it back they conceivably could have all three, if I was unable to find them, since it is unlikely it would be possible for me to prove that an inexpensive item such as a pen was borrowed and not returned.
Read more about this topic: Right Of Possession
Famous quotes containing the word examples:
“It is hardly to be believed how spiritual reflections when mixed with a little physics can hold people’s attention and give them a livelier idea of God than do the often ill-applied examples of his wrath.”
—G.C. (Georg Christoph)
“No rules exist, and examples are simply life-savers answering the appeals of rules making vain attempts to exist.”
—André Breton (1896–1966)
“There are many examples of women that have excelled in learning, and even in war, but this is no reason we should bring ‘em all up to Latin and Greek or else military discipline, instead of needle-work and housewifry.”
—Bernard Mandeville (1670–1733)