Exam 27: Personal Property and Bailments

Sara has a flat-screen TV,a Blu-ray disc player,set of computer games and an investment portfolio that includes stock in the Internet game company Zynga.Sara's intangible property includes

A car is tangible personal property.

It is presumed that a co-tenancy is a tenancy in common unless it is clear that the parties intended to establish a joint tenancy.

A finder acquires title to mislaid property good against the whole world,in-cluding the true owner.

GR8 Vision,Inc.,hires Haul-Way Company to trans-port fifty large-screen HDTVs from GR8's warehouse in San Diego to an Ideal Electronics retail store in Phoenix.The bailee is

Venerable Company leases office furniture to Design Architects,Inc.,under a contract that states,"Bailee agrees to pay Bailor for any damage to the furniture." During the lease,while the furniture is in Design's possession,it is stained by inks used in computer printers,copiers,fax machines,and so on.Most likely liable for the damage is

A gift causa mor-tis is effective only if the donor dies and the donee lives.

Confusion of fungible goods results in the owners' loss of their rights in the property.

Intangible personal property represents a set of rights and interests but has no real physical existence.

Roslyn is an inventor.She has many tools,including a hammer,a handsaw and a drill.Roslyn has a patent on her most recent invention and she owns stock in Handy Appliances,Inc.,which is a company that often uses her inventions.Roslyn's tangible personal property includes the

Rocco gives Sequoia a smartphone as a gift.Sequoia develops a new game app for the phone.She obtains intellectual property protection,and forms Titan Games,LLC,to make and market the game.Sequoia's ac-quisition of the game is by

Ira is declared mentally incompetent.Jay,Ira's son,is named his guard-ian.At Jay's insistence,Ira transfers his assets to Jay "for safekeeping." A court might conclude that this gift is not effective on the ground that there was no

Victor leaves his Dodge sport utility vehicle at Gordo's Auto Service for an oil change.This is

Which of the following is considered personal property

Uri discovers a boat adrift,and retrieves and anchors it.The boat features a number on its side and other evidence pointing to its owner,Vera.This is

If property is owned as community property,each spouse owns an undivided one-half interest in it.

A gift to a dying donee is a gift causa mortis.

Ruby is young and healthy when she gives Pearl a prize-winning horse.The gift meets all the requirements to be effective.This is a gift

In most bailments,the bailee can retain the goods given by the bailor and return equivalent property.

A finder of mislaid property is an involuntary bailee.