Exam 45: Personal Property and Bailments

The legally protected rights and interests that a person has in anything of established value subject to ownership is

While hiking on Mountain Trail, Ness's camera falls from his pocket. He fails to notice its loss for a mile, and is then unable to find it. Ole finds the camera. Pau tries to take it from Ole. The party who can assert the best title to the camera is

On the completion of a bailment, the bailee may dispose of the property at will.

Because a warehouse company is a professional bailee, it is expected to exercise a high degree of care to preserve and protect bailed goods.

A promise to make a gift tomorrow or next year is a gift .

Cartage Inc. agrees to pick up two truckloads of housewares for Discount Corporation and store the contents to be delivered later. After Cartage unloads the goods at its storage facility, some of them disappear from the loading dock. A court will presume that

In a bailment for the sole benefit of the bailee , the bailee will be liable for even the slightest negligence in caring for the bailed property.

With respect to bailed goods, common carriers are absolutely-strictly-liable .

Personal property can be converted into real property by being permanently attached to it.

In a bailment for the sole benefit of the bailor , the bailee need not exercise even a slight degree of care in preserving the bailed property.

Establishing ownership rights is more complicated for personal property than for real property.

The concept of personal property can expand to take account new types of ownership rights and interests.

Estray statutes encourage the return of found property to its owner by making is possible for the finder to acquire title to it.

The distinction between real and personal property is important because how property is acquired is determined by its classification.

The delivery of documents that represent the rights to property can be sufficient to transfer that property to the recipient.

A transfer of personal property without an agreement for its return or disposal is not a bailment.

Gene leaves her Honda Fit with In-Town Motors for routine maintenance. On its return, the interior of the car is greasy and the exterior is scratched and dented. Who suffers the loss and why?

Robin stores her grain at a facility owned and operated by Silo Inc. At the end of the storage period, Silo must

The law defines a person's rights and interests in anything with an ascertainable value that is subject to ownership.

Sometimes, a person can become an owner of personal property merely by possessing it.