Question 1

Which of the following is considered a constructive delivery of a gift?

Accepted Answer

A) giving the key to a safe-deposit box where the gift is kept 
B) paying for the total value of the good being gifted in cash 
C) contracting a third-party to deliver goods to the donee 
D) gifting someone in person to ensure acceptance of the gift 
A) giving the key to a safe-deposit box where the gift is kept 
B) paying for the total value of the good being gifted in cash 
C) contracting a third-party to deliver goods to the donee 
D) gifting someone in person to ensure acceptance of the gift

Question 2

Warehousers are subject to the rights, duties, and liability of an ordinary bailee.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following duty is owed by the parties in a mutual benefit bailment?

Accepted Answer

A) duty of great care 
B) duty of slight care 
C) duty of ordinary care 
D) duty of utmost care 
A) duty of great care 
B) duty of slight care 
C) duty of ordinary care 
D) duty of utmost care

Question 4

What is a warehouse receipt?

Accepted Answer

A warehouse receipt is a document of tit

Question 5

Only personal property can be used in a bailment.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following methods of acquiring ownership is least in use today?

Accepted Answer

A) purchase 
B) capture 
C) gift 
D) production 
A) purchase 
B) capture 
C) gift 
D) production

Question 7

The bill of lading is a document of title that is issued by a common carrier to the bailee when goods are received for transportation.

Accepted Answer

A) True 
 B)False

Question 8

Explain the title to goods when fungible goods are commingled.

Accepted Answer

Confusion occurs if two or more persons

Question 9

Under the Statute of Frauds, a bailment agreement must be in writing if it is for more than one year.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is true about real property?

Accepted Answer

A) Real property refers to personal property permanently attached to a land. 
B) Real property can be either tangible or intangible property. 
C) Real property cannot become personal property under any circumstance. 
D) Real property includes land and property permanently attached to it. 
A) Real property refers to personal property permanently attached to a land. 
B) Real property can be either tangible or intangible property. 
C) Real property cannot become personal property under any circumstance. 
D) Real property includes land and property permanently attached to it.

Question 11

When John Lacey's car was stolen, he lodged a complaint with the police.After a while, the police were able to trace the car to a professional auto thief and return it to John.When John got his car back, he realized that the thief had installed a new engine, changed the upholstery, and put in a new stereo player in his car.
-The value of John's car is said to have undergone a(n)________.

Accepted Answer

A) accession 
B) arraignment 
C) bailment 
D) lien 
A) accession 
B) arraignment 
C) bailment 
D) lien

Question 12

What is a gift inter vicos?

Accepted Answer

A) a gift that is made in contemplation of death 
B) a gift made during a person's lifetime that is an irrevocable present transfer of ownership 
C) a gift that is to be shared by the donor and donee with the payment of consideration by the donee 
D) a gift that requires a monetary payment at a set date in the future 
A) a gift that is made in contemplation of death 
B) a gift made during a person's lifetime that is an irrevocable present transfer of ownership 
C) a gift that is to be shared by the donor and donee with the payment of consideration by the donee 
D) a gift that requires a monetary payment at a set date in the future

Question 13

A gift that is made in contemplation of death is known as a(n)________.

Accepted Answer

A) profit-à-prendre 
B) estate pour autre vie 
C) gift inter vicos 
D) gift causa mortis 
A) profit-à-prendre 
B) estate pour autre vie 
C) gift inter vicos 
D) gift causa mortis

Question 14

In which of the following processes is the title of goods not transferred?

Accepted Answer

A) an adverse possession 
B) a bailment 
C) a sale 
D) an acquisition 
A) an adverse possession 
B) a bailment 
C) a sale 
D) an acquisition

Question 15

Constructive deliveries can be made in bailments.

Accepted Answer

A) True 
 B)False

Question 16

What are the elements necessary to create a bailment?

Accepted Answer

Three elements are necessary to create a

Question 17

________ occurs if two or more persons commingle fungible goods.

Accepted Answer

A) Confusion 
B) Accession 
C) Bailment 
D) Easement 
A) Confusion 
B) Accession 
C) Bailment 
D) Easement

Question 18

If an accession is made wrongfully, the improver acquires title to the improved property and does not have to pay the owner for the property.

Accepted Answer

A) True 
 B)False

Question 19

________ represent rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, and copyrights.

Accepted Answer

A) Real properties 
B) Intangible properties 
C) Fixtures 
D) Immovable properties 
A) Real properties 
B) Intangible properties 
C) Fixtures 
D) Immovable properties

Question 20

A gift causa mortis is an irrevocable present during the donor's lifetime.

Accepted Answer

A) True 
 B)False

Exam 47: Personal Property and Bailment

Which of the following is considered a constructive delivery of a gift?

Warehousers are subject to the rights, duties, and liability of an ordinary bailee.

Which of the following duty is owed by the parties in a mutual benefit bailment?

What is a warehouse receipt?

Only personal property can be used in a bailment.

Which of the following methods of acquiring ownership is least in use today?

The bill of lading is a document of title that is issued by a common carrier to the bailee when goods are received for transportation.

Explain the title to goods when fungible goods are commingled.

Under the Statute of Frauds, a bailment agreement must be in writing if it is for more than one year.

Which of the following is true about real property?

What is a gift inter vicos?

A gift that is made in contemplation of death is known as a(n)________.

In which of the following processes is the title of goods not transferred?

Constructive deliveries can be made in bailments.

What are the elements necessary to create a bailment?

________ occurs if two or more persons commingle fungible goods.

If an accession is made wrongfully, the improver acquires title to the improved property and does not have to pay the owner for the property.

________ represent rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, and copyrights.

A gift causa mortis is an irrevocable present during the donor's lifetime.

Legal Heritage and the Digital Age

Courts and Jurisdiction

Judicial,Alternative,and E-Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Product and Strict Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crimes

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

E-Commerce and Digital Law

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties

Creation of Negotiable Instruments

Holder in Due Course and Transferability

Liability, Defenses, and Discharge

Banks, E-Money, and Financial Reform

Credit,Mortgages,and Debtor's Rights

Secured Transactions and E-Filing

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, Agents, and Independent Contractors

Employment, Worker Protection, and Immigration Law

Labor Law and Collective Bargaining

Equal Opportunity in Employment

Small Business, Entrepreneurship, and General Partnerships

Limited Partnerships and Special Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Businesses

Investor Protection, E-Securities, and Wall Street Reform

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection

Antitrust Law and Unfair Trade Practices

Real Property

Landlord-Tenant Law and Land Use Regulation

Insurance

Accountants' Duties and Liability

Wills Trusts and Estates

Family Law

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