Question 1

Under the Uniform Gifts to Minors Act,gifts made to minors are within the sole control of the minor.

Accepted Answer

A) True 
 B)False

Question 2

When an animal owned by someone has offspring,the party who owns the mother has acquired the offspring by:

Accepted Answer

A)  gift 
B)  production 
C)  accession 
D)  inheritance 
E)  confusion 
A)  gift 
B)  production 
C)  accession 
D)  inheritance 
E)  confusion

Question 3

You find a wallet on the ground in the parking lot of your apartment complex.Which is most likely true?

Accepted Answer

A)  This is lost property and you must make a reasonable effort to locate the true owner. 
B)  This is mislaid property and you must make a reasonable effort to locate the true owner. 
C)  This is mislaid property so you need not make a reasonable effort to locate the true owner. 
D)  This is abandoned property and would be considered a gift because the original owner no longer wanted it. 
A)  This is lost property and you must make a reasonable effort to locate the true owner. 
B)  This is mislaid property and you must make a reasonable effort to locate the true owner. 
C)  This is mislaid property so you need not make a reasonable effort to locate the true owner. 
D)  This is abandoned property and would be considered a gift because the original owner no longer wanted it.

Question 4

Victor had a priceless painting that he wanted to give to Gwen,but Victor wanted to keep it hanging in his house so he could see it.Victor physically gave the painting to Gwen,who immediately loaned it back to Victor,so Victor could keep it until Victor died.Upon Victor's death,Gwen claims the painting.Which of the following best describes this situation?

Accepted Answer

A)  Victor has made a valid gift to Gwen. 
B)  This gift is not valid because there is no donative intent. 
C)  This gift is not valid because the purported delivery is ineffective. 
D)  This gift is not valid because there is no acceptance. 
E)  This gift is not valid because there is no consideration. 
A)  Victor has made a valid gift to Gwen. 
B)  This gift is not valid because there is no donative intent. 
C)  This gift is not valid because the purported delivery is ineffective. 
D)  This gift is not valid because there is no acceptance. 
E)  This gift is not valid because there is no consideration.

Question 5

Grandpa calls Billy and says,"I want you to have my toy train set.I'll bring it by next week." Billy says that he would love to have it.Grandpa dies unexpectedly that afternoon,and in his will leaves everything to Alicia,Billy's cousin.Which is true?

Accepted Answer

A)  Billy gets the train because of the agreement with Grandpa. 
B)  Billy gets the train because there was donative intent on Grandpa's part and he (Billy) accepted the gift. 
C)  Alicia gets the train because Grandpa had not yet taken the train to Billy. 
D)  Billy gets at least part interest in the train because Grandpa cannot treat his cousins unequally in his will. 
E)  Alicia and Billy now each have a half interest in the train because Grandpa and Billy owned the train as tenants in common at the time of Grandpa's death. 
A)  Billy gets the train because of the agreement with Grandpa. 
B)  Billy gets the train because there was donative intent on Grandpa's part and he (Billy) accepted the gift. 
C)  Alicia gets the train because Grandpa had not yet taken the train to Billy. 
D)  Billy gets at least part interest in the train because Grandpa cannot treat his cousins unequally in his will. 
E)  Alicia and Billy now each have a half interest in the train because Grandpa and Billy owned the train as tenants in common at the time of Grandpa's death.

Question 6

Historically,the bailee must exercise what level of care in a bailment for the bailee's exclusive benefit?

Accepted Answer

A)  utmost 
B)  minimal 
C)  ordinary 
D)  strict liability 
A)  utmost 
B)  minimal 
C)  ordinary 
D)  strict liability

Question 7

Bailments are established to continue for an indefinite period of time.

Accepted Answer

A) True 
 B)False

Question 8

One of the purposes of estray statutes is to:

Accepted Answer

A)  deprive careless people of their property as punishment for losing it 
B)  allow finders of lost or mislaid property to acquire clear title if certain requirements are met,thus preventing the original owner from reclaiming it 
C)  determine whether found property is lost or mislaid property 
D)  allow the state to gain title to lost or mislaid property 
A)  deprive careless people of their property as punishment for losing it 
B)  allow finders of lost or mislaid property to acquire clear title if certain requirements are met,thus preventing the original owner from reclaiming it 
C)  determine whether found property is lost or mislaid property 
D)  allow the state to gain title to lost or mislaid property

Question 9

George wants to give a dining room table to Colleen.The table is in a self-serve storage unit.George gives the key to the storage unit to Colleen.Colleen takes the key,showing the appropriate gratitude.Which of the following statements best describes this situation?

Accepted Answer

A)  George has made a valid gift to Colleen. 
B)  This gift is not valid because there is no donative intent. 
C)  This gift is not valid because there is no delivery. 
D)  This gift is not valid because there is no acceptance. 
E)  This gift is not valid because there is no consideration. 
A)  George has made a valid gift to Colleen. 
B)  This gift is not valid because there is no donative intent. 
C)  This gift is not valid because there is no delivery. 
D)  This gift is not valid because there is no acceptance. 
E)  This gift is not valid because there is no consideration.

Question 10

In most cases,a bailment for hire is considered to be for the benefit of the bailee.

Accepted Answer

A) True 
 B)False

Question 11

Catching fish with a license is an example of the acquisition of property by possession or capture.

Accepted Answer

A) True 
 B)False

Question 12

A couple of weeks before her sister graduates,Dorothy says to her,"I promise to give you a new mountain bike when you graduate." Her sister graduates and Dorothy takes the bike to her sister,who is thrilled to get the bike.Her sister loves the way it rides,but Dorothy has a change of mind.Dorothy sues to recover the bike from her sister.A court is most likely to rule that:

Accepted Answer

A)  Her sister must give the bike back because a promise to make a gift is not enforceable. 
B)  The sister must give the bike back because all the requirements of a gift have not been met. 
C)  The sister must give the bike back if Dorothy has asked for its return within a reasonable time. 
D)  The sister need not give the bike back because the gift has been completed. 
E)  The sister need not give the bike back,but must pay Dorothy a reasonable amount if she wants to keep the bike and Dorothy requests this within a reasonable time. 
A)  Her sister must give the bike back because a promise to make a gift is not enforceable. 
B)  The sister must give the bike back because all the requirements of a gift have not been met. 
C)  The sister must give the bike back if Dorothy has asked for its return within a reasonable time. 
D)  The sister need not give the bike back because the gift has been completed. 
E)  The sister need not give the bike back,but must pay Dorothy a reasonable amount if she wants to keep the bike and Dorothy requests this within a reasonable time.

Question 13

The highest duty of care is owed by bailees when the bailment is for the sole benefit of the bailee.

Accepted Answer

A) True 
 B)False

Question 14

Bailments can be express,implied,written,or oral.

Accepted Answer

A) True 
 B)False

Question 15

One way to acquire property is by production.

Accepted Answer

A) True 
 B)False

Question 16

Should laws of the United States be able to affect ownership and property rights of personal property that is physically located outside of the United States? Under what circumstances? What are some of the difficulties in determining the location of personal property?

Accepted Answer

United States law could determine the pr

Question 17

Which of the following situations generally does not create a bailment?

Accepted Answer

A)  renting a safety deposit box 
B)  parking your car in a commercial parking lot,if you keep your keys 
C)  a conditional sales contract 
D)  loaning your lawn mower to a neighbor 
E)  keeping your neighbor's cat while she is away 
A)  renting a safety deposit box 
B)  parking your car in a commercial parking lot,if you keep your keys 
C)  a conditional sales contract 
D)  loaning your lawn mower to a neighbor 
E)  keeping your neighbor's cat while she is away

Question 18

The distinction between lost and mislaid property is based on whether the property was tangible or intangible.

Accepted Answer

A) True 
 B)False

Question 19

Why is there a distinction in the law between lost and mislaid property? Should someone who finds mislaid property in the public area of a store be able to recover it from the store if the true owner does not appear within a certain period of time to claim the property?

Accepted Answer

With mislaid property,the owner of the p

Question 20

A person who dies without a will usually has his or her property distributed to his or her heirs according to the relevant state's inheritance statute.

Accepted Answer

A) True 
 B)False

Exam 47: Personal Property and Bailment

Under the Uniform Gifts to Minors Act,gifts made to minors are within the sole control of the minor.

When an animal owned by someone has offspring,the party who owns the mother has acquired the offspring by:

You find a wallet on the ground in the parking lot of your apartment complex.Which is most likely true?

Grandpa calls Billy and says,"I want you to have my toy train set.I'll bring it by next week." Billy says that he would love to have it.Grandpa dies unexpectedly that afternoon,and in his will leaves everything to Alicia,Billy's cousin.Which is true?

Historically,the bailee must exercise what level of care in a bailment for the bailee's exclusive benefit?

Bailments are established to continue for an indefinite period of time.

One of the purposes of estray statutes is to:

George wants to give a dining room table to Colleen.The table is in a self-serve storage unit.George gives the key to the storage unit to Colleen.Colleen takes the key,showing the appropriate gratitude.Which of the following statements best describes this situation?

In most cases,a bailment for hire is considered to be for the benefit of the bailee.

Catching fish with a license is an example of the acquisition of property by possession or capture.

The highest duty of care is owed by bailees when the bailment is for the sole benefit of the bailee.

Bailments can be express,implied,written,or oral.

One way to acquire property is by production.

Should laws of the United States be able to affect ownership and property rights of personal property that is physically located outside of the United States? Under what circumstances? What are some of the difficulties in determining the location of personal property?

Which of the following situations generally does not create a bailment?

The distinction between lost and mislaid property is based on whether the property was tangible or intangible.

Why is there a distinction in the law between lost and mislaid property? Should someone who finds mislaid property in the public area of a store be able to recover it from the store if the true owner does not appear within a certain period of time to claim the property?

A person who dies without a will usually has his or her property distributed to his or her heirs according to the relevant state's inheritance statute.

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Nature of Traditional and E-Contracts

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Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

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Internet Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

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Sales and Lease Warranties

Creation of Negotiable Instruments

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