RPL Chapter 2: The Nature of Property - Topic: The Concept of Property - 15 points This assignment contributes to the following Basic and Advanced Learning Objectives for this Module Define property in the legal sense. Identify the attributes associated with the legal concept of property. Contrast the legal concept of property with other uses of the word "property" and determine whether an example does or does not fall within that concept. Before completing this assignment, you should have completed the quizzes for this Module. Read Chapter 1, The Concept of Property, pages 25-28, and In Re Marriage of Graham, pages 46-47. In Graham, a couple was divorcing. The wife argued that the husband's MBA was property. The first court that heard the case, the trial court, agreed with her. However, the court of appeals reversed that decision and held that an educational degree is not property. What you have in the text is an excerpt from the decision of the 3rd court to consider this case, the Colorado Supreme Court. Part 1: Identify. The meaning of "property" varies depending on the context in which the word is used. In this part of the assignment, you will identify 3 ways in which property can be defined. In the video for this topic, property was defined as a bundle of rights. List the 4 rights that are included in that bundle. 1 2 3 4 In the case in re Marriage of Graham, the Colorado Supreme Court referred to the comprehensive meaning of property. What does that definition embrace? Use the language of the court; do not paraphrase. The court also referred to a "helpful definition." What was that? Use the language of the court; do not paraphrase. Part 2: Apply. In the case in re Marriage of Graham, the Colorado Supreme Court concluded that an education degree, such as a master's degree in business administration (MBA), is "simply not encompassed even by the broad views of the concept of property," and that it - the degree "has none of the attributes of property in the usual sense of that term." Explain the court's rationale; how did it apply its definition of property to these facts to reach that conclusion? Part 3: Implications. "Implications" refers to a potential future effect or result. This is an important consideration in any decision-making process, but especially when courts resolve disputes, because resolving one dispute may set a precedent for future cases. As your book notes, there is one case, O'Brien v O'Brien, in which a court concluded that a medical degree was considered property as that term is used in the New York statute about division of marital property in a divorce. That court acknowledged that the traditional common law property concepts (those you identified in Part 1, above) do not fit this situation but concluded that the husband's medical degree was a thing of value acquired during the marriage and thus was subject to distribution as marital property. In your view, which outcome, Graham or O'Brien, sets the better