Exam 17: Personal Property: Bailment and Insurance

Alameda owned a painting.The painting was totally destroyed in a fire.The law will say that he lost his property rights in the painting even if he has first party insurance.

Aziz abandoned a bicycle by the side of the road with the intention of never seeing it again.Brian saw the bike a short time later and took possession of it with the intention of keeping it.When he was not riding it,Brian regularly left the bike on the sidewalk in front of his apartment building.One night while he slept,Celeste took the bike,with the intention of keeping it for herself.A week later,however,Dharma grabbed the bike from out of Celeste's hands.When she complained,Dharma said that since she had stolen the bike,she had no rights in it.Which of the following statements is TRUE?

Trans-Geo Inc is a business that operates in a number of different ways.Most commonly,however,it moves goods for customers from one part of the country to another.It necessarily will be considered a common carrier whenever it does so.

Explain the meaning and relevance of "inherent vice."

A bailee is always entitled to exercise a right of sale if a bailor does not pay a price associated with a bailment relationship.

Thomas owns a manufacturing system worth $200 000.He purchased $90 000 worth of property insurance from Prairie Insurance Co.That policy contains a co-insurance clause that requires 90 percent coverage.A fire recently damaged Thomas's manufacturing system.How much is Prairie Insurance Co required to pay to him if the fire damage is assessed at $100 000? What if it is assessed at $200 000?

Which of the following statements is TRUE with respect to property insurance?

What is the difference between a chose in action and a chose in possession?

The creation of a bailment depends upon proof that

Which of the following statements is TRUE with respect to statutory liens that apply in the context of bailments?

Pierce was looking at an open house with a pool.Quincy,the owner,makes the statement,"Well,we'll be taking the pool with us when we go," and the two men laugh.Pierce buys the house.When he moves in,he sees that the pool has been excavated.Which of the following is true?

PUG Manufacturing needs to ship steel pipe valves from Regina to Montreal.They contract a common railway carrier.When the goods arrive,half of the valves are damaged.Which of the following is false?

Inez is going on a one-month trip to Europe.Because she generally parks her car on the street,she asks her brother,Edgar,if she can park her car on his driveway.She gives him her keys to store,but tells him under no circumstances is he to drive the car.She lets him know that she will be there to pick it up as soon as she gets back.A judge would find that Inez has most likely created

Which of the following statements is TRUE?

Chinthaka received a widget from Melissa.A true bailment was created if

"Property law,like nature,abhors a vacuum.Consequently,property rights that are lost by one party are always acquired by another party." Is this statement true? Explain your answer by using examples.

Meena gave a widget to Speedy Fixit Inc for repairs.She assumed,without much thought that the repairs would be done by Speedy itself.In fact,Speedy sent the widget to Niagra Repairs Ltd to have the work done.The widget was lost while it was in the possession of Niagra.If Meena agreed to a sub-bailment,she may be allowed to subsequently sue Niagra for the loss.

What is subrogation? What is indemnification? How are these two concepts related?