Question 1

The intent to make a gift requires an intent to transfer title at that time.

Accepted Answer

A) True 
 B)False  True

Question 2

Bailments may be:

Accepted Answer

A)  created orally or through a writing. 
B)  created for either real or personal property. 
C)  created for nonpossessory personal property. 
D)  made only after delivery to the bailor is accomplished. 
A)  created orally or through a writing. 
B)  created for either real or personal property. 
C)  created for nonpossessory personal property. 
D)  made only after delivery to the bailor is accomplished. A

Question 3

A gift causa mortis does not become irrevocable until the donor ______ from the contemplated event, but it is ______ revoked if the donor survives.

Accepted Answer

A)  dies, automatically 
B)  recovers, automatically 
C)  dies, not 
D)  recovers, not 
A)  dies, automatically 
B)  recovers, automatically 
C)  dies, not 
D)  recovers, not A

Question 4

A custodian who holds money for the benefit of a minor under the Uniform Gifts to Minors Act may choose to use the money to send the minor to summer camp.

Accepted Answer

A) True 
 B)False

Question 5

A bailee's lien gives the bailee the right to keep possession of the bailed property until reasonable charges for storage and/or repairs are paid.

Accepted Answer

A) True 
 B)False

Question 6

A right in a thing is considered property.

Accepted Answer

A) True 
 B)False

Question 7

A gift causa mortis is considered a conditional gift.

Accepted Answer

A) True 
 B)False

Question 8

In a(n) ___________, the bailor has a legal duty to make a reasonable investigation for defects and inform the bailee if any are known or found

Accepted Answer

A)  mutual benefit bailment 
B)  bailment for the sole benefit of the bailee. 
C)  constructive bailment 
D)  gratuitous bailment 
A)  mutual benefit bailment 
B)  bailment for the sole benefit of the bailee. 
C)  constructive bailment 
D)  gratuitous bailment

Question 9

A bailee's __________ gives the bailee the right to maintain possession of the bailed property until reasonable storage and/or repair charges are paid.

Accepted Answer

A)  reversionary interest 
B)  lien 
C)  remainder interest 
D)  mortgage 
A)  reversionary interest 
B)  lien 
C)  remainder interest 
D)  mortgage

Question 10

In a bailment, the person who turns over the possession of bailed property is the bailee, and the person who accepts possession is the bailor.

Accepted Answer

A) True 
 B)False

Question 11

Upon the death of a joint tenancy with a right of survivorship, that deceased joint tenant's share passes to the remaining tenants equally.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following forms of cotenancy does not have right of survivorship?

Accepted Answer

A)  joint tenancy 
B)  tenancy by entirety 
C)  tenancy in common 
D)  community property 
A)  joint tenancy 
B)  tenancy by entirety 
C)  tenancy in common 
D)  community property

Question 13

If while trespassing a hunter kills game, the game belongs to that hunter.

Accepted Answer

A) True 
 B)False

Question 14

Personal property is lost when an owner does not know where it is located but intends to find it.

Accepted Answer

A) True 
 B)False

Question 15

A person becomes a(n) __________ at the moment of taking possession of abandoned personal property.

Accepted Answer

A)  bailor 
B)  bailee 
C)  constructive bailee 
D)  owner 
A)  bailor 
B)  bailee 
C)  constructive bailee 
D)  owner

Question 16

An ordinary bailment can arise with only an implied agreement between the parties.

Accepted Answer

A) True 
 B)False

Question 17

__________ property means land and things embedded in the land.

Accepted Answer

A)  Real 
B)  Personal 
C)  Intangible 
D)  Tangible 
A)  Real 
B)  Personal 
C)  Intangible 
D)  Tangible

Question 18

Personal property is tangible and immovable.

Accepted Answer

A) True 
 B)False

Question 19

Nelson took her computer to ABC Computer for repairs. ABC repaired the computer at a cost of $350 and informed Nelson that her computer was ready. Before Nelson came to pick up her computer, ABC was burglarized and Nelson's computer was taken. ABC had a commonly-used alarm system that was operating properly on the night of the burglary, and all the doors and windows were properly secured. Nelson sued ABC for the cost of the computer. ABC denied any liability and counterclaimed for the $350 in repairs. Who will win?

Accepted Answer

Judgment will be for ABC for $350. ABC h

Question 20

If a maintenance employee at a hotel finds a pocketbook with $500 in cash while cleaning an empty guest room, the employee:

Accepted Answer

A)  is entitled to keep the property, because the employee has the legal status of a "finder." 
B)  must give the property to the manager of the hotel to be kept for the owner. 
C)  must place an advertisement in a local newspaper, and if the property is not claimed within seven (7) business days, the employee is entitled to keep it. 
D)  can retain possession of the property until the owner establishes ownership. 
A)  is entitled to keep the property, because the employee has the legal status of a "finder." 
B)  must give the property to the manager of the hotel to be kept for the owner. 
C)  must place an advertisement in a local newspaper, and if the property is not claimed within seven (7) business days, the employee is entitled to keep it. 
D)  can retain possession of the property until the owner establishes ownership.

Exam 20: Personal Property and Bailments

The intent to make a gift requires an intent to transfer title at that time.

Bailments may be:

A gift causa mortis does not become irrevocable until the donor ______ from the contemplated event, but it is ______ revoked if the donor survives.

A custodian who holds money for the benefit of a minor under the Uniform Gifts to Minors Act may choose to use the money to send the minor to summer camp.

A bailee's lien gives the bailee the right to keep possession of the bailed property until reasonable charges for storage and/or repairs are paid.

A right in a thing is considered property.

A gift causa mortis is considered a conditional gift.

In a(n) ___________, the bailor has a legal duty to make a reasonable investigation for defects and inform the bailee if any are known or found

A bailee's __________ gives the bailee the right to maintain possession of the bailed property until reasonable storage and/or repair charges are paid.

In a bailment, the person who turns over the possession of bailed property is the bailee, and the person who accepts possession is the bailor.

Upon the death of a joint tenancy with a right of survivorship, that deceased joint tenant's share passes to the remaining tenants equally.

Which of the following forms of cotenancy does not have right of survivorship?

If while trespassing a hunter kills game, the game belongs to that hunter.

Personal property is lost when an owner does not know where it is located but intends to find it.

A person becomes a(n) __________ at the moment of taking possession of abandoned personal property.

An ordinary bailment can arise with only an implied agreement between the parties.

__________ property means land and things embedded in the land.

Personal property is tangible and immovable.

If a maintenance employee at a hotel finds a pocketbook with $500 in cash while cleaning an empty guest room, the employee:

The Nature and Sources of Law

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Business Ethics, Social Forces, and the Law

The Constitution As the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

Crimes

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Intellectual Property Rights and the Internet

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Nature and Classes of Contracts: Contracting on the Internet

Formation of Contracts: Offer and Acceptance

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Writing, Electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

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Legal Aspects of Supply Chain Management

Nature and Form of Sales

Title and Risk of Loss

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Remedies for Breach of Sales Contracts

Kinds of Negotiable Instruments and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

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Nature of the Debtor Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

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Types of Business Organizations

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Shareholder Rights in Corporations

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Filters

A gift causa mortis does not become irrevocable until the donor from the contemplated event, but it is revoked if the donor survives.