Exam 47: Introduction to Property, Property Insurance, Bailments, and Documents of Title

Harvey's Car Rental rents Darlene an intermediate-size car at $159 per week for her business trip.What is the relationship between Harvey's and Darlene?

Carol took her earrings off at Marcia's beauty shop and put them on the counter.She left the shop without remembering the earrings.Betty finds them and wants to keep them.Can she?

Why are delivery and acceptance both necessary to have a valid gift? Explain.

The coverage of fire insurance policies varies by state, but the policies are written for no more than one-year terms.

Melissa cannot transfer control of the goods held by a bailee by transferring a document of title.

A friendly fire is one that is contained to an intended place, such as a fireplace, stove, or barbecue grill.

Albert offers his nephew, Tom, his 2011 car which would only need about $1,000 in repairs to put it in running order.Tom has no right to reject the car.

A $40,000 fire insurance policy covers a building, which is valued at $50,000, and there is an 80% co-insurance clause.If the building is totally destroyed by fire, the policyholder will receive:

Patent rights are considered to be personal property.

The delivery necessary for a gift may be accomplished constructively.

The regulation of insurance has been left to the states.

Which of the following is tangible real property?

The UCC does not cover:

Property insurance may be either a valued policy or an open policy.

Korbin asked Karen to marry him and gave her a 1 carat diamond engagement ring.Three months later, Karen broke the engagement because she decided she was not ready for marriage.According to most courts, Korbin may:

Transfer of title to personal property can occur by all but which of the following ways?

Farmer Brown brings his crop of wheat to the local grain elevator where it is stored along with the grain of several other farmers.A few months later, the grain elevator declares bankruptcy.Who owns the grain? Can Farmer Brown get his grain back? Explain.

The anthropology department of Towers University is doing an excavation on property that belongs to the Browns.If, in the process of excavation, the university finds some valuable lost items, they will belong to the Browns and not to the university.

Which of the following is/are the criteria for a common carrier?

Temporary insurance coverage prior to the issuance of the actual policy may be obtained by use of a(n):