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

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?

The delivery necessary for a gift may be accomplished constructively.

A furnace would often be classified as a "fixture."

Larry leaves his hat under the seat at the movie theater. Is this a bailment?

Mark finds a camera on a park bench at Disneyland. Mark can keep the camera if the true owner cannot be found, because it is lost property.

An inter vivos gift is a gift:

Which of the following is NOT personal property?

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.

All bills of lading are negotiable and may be transferred like a check.

The UCC does not cover:

Claudia hires Greg to plant a tree in her yard. Greg discovers a shoebox buried in the ground. Greg owns the shoebox and its contents since he is the finder.

The finder of lost property is entitled to possession of it, even against the true owner.

Accession means the right of the owner of property to any increase in it.

Coinsurance is common in property insurance as a means of sharing risk between the insurer and insured.

Bailments for the bailee's sole benefit are usually limited to the gratuitous loan of personal property for use by the bailee.

All but which of the following hold an insurable interest?

How does the liability of a common carrier differ from that of an ordinary bailee with regard to property that is lost or damaged while in possession of the carrier?

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

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

Warranties in insurance contracts: