Exam 22: Personal Property Vs Bailments

In some jurisdictions, a person who found lost or mislaid property is referred to as a(n) ________.

Define a bailment. Compare and contrast a bailment for the sole benefit of the bailor and a bailment for the sole benefit of the bailee.

What Latin term means "between the living"?

A person using another's property for a different purpose than the one agreed upon is a(n) ________ bailee.

How can a gift's delivery be made?

To acquire a personal property by gift, what people are necessary?

One legal way to acquire personal property is conversion.

A right to possess something only obtainable by a legal action is called a(n) ________ in action.

People creating property through their intellectual activities always own rights to this intellectual property.

Match the terms with their descriptions: -Gift causa mortis

Define a donor and donee. Compare and contrast an inter vivos gift and a causa mortis gift.

Property that is not perceptible to the senses and cannot be touched is called intangible personal property.

What does the Latin term "causa mortis" mean?

What legal concept presumes that the owner has title to the property?

Personal property is acquired when a person receives a ________ from a donor.

Property can be involuntarily transferred when someone finds it.

What is an element of a valid inter vivos gift?

A bailment is created when a car's owner leaves the car at an auto repair shop to be fixed.

What term describes a sale of property when the auctioneer may not withdraw the goods after one bid has been placed?