Law is a general term that involves rules and guidelines addressing various issues or matters. There are however sub-categories of law to address more specific matters such as larceny law. Larceny law involves the definition of larceny and the punishment a guilty individual may be subject to.
Legally, larceny is defined as the taking and carrying away of another person’s tangible personal property. Such a definition provides 2 conditions before an act can be called larceny. The first act of taking must involve complete control of another person’s property. Thus, the individual taking the property must have complete and absolute physical control over it. The second act involves carrying the object away from the owner. This entails actual asportation, which means movement or carrying away, rather than preparation for asportation.
Larceny is classified into petty larceny and grand larceny, with the classification based on the value of the property that was stolen. A person who received a grand larceny conviction is considered to be a convicted felon. Grand larceny occurs when the property stolen has a value of $500 or more. However, this definition applies to most states but not to all. A petty larceny conviction is the second type of larceny conviction that equates to a misdemeanor. The term petty larceny refers to theft of items that are considered less valuable as compared to grand larceny. The value of an item in an issue of petty larceny differs among jurisdictions, but generally it is anything that is below $300.