Asked by Johnny Reyes on Jun 18, 2024
Verified
What's the significance of an item being identified as a trade fixture?
Trade Fixture
An item that may be attached to a building or structure but is considered personal property because it is installed by a tenant for business purposes.
- Differentiate between tangible property and intangible property.
- Acquire knowledge on the relevance of chattels within the context of property law.
Verified Answer
VJ
Victoria JuvinallJun 18, 2024
Final Answer :
A trade fixture is fixed to the land for the purpose of making that fixture useable, such as machinery and the like. The tenant can take such trade fixtures with them when they go, even though they are fixed to the land.
Learning Objectives
- Differentiate between tangible property and intangible property.
- Acquire knowledge on the relevance of chattels within the context of property law.