Question 1

Personal property includes all things of value including real estate.

Accepted Answer

A) True 
 B)False  False

Question 2

The bailor must both inform the bailee of known defects and make a reasonable investigation to discover defects in a:

Accepted Answer

A) mutual benefit bailment. 
B) Bailment for the sole benefit of the bailee. 
C) both a.and b. 
D) neither a.nor b. 
A) mutual benefit bailment. 
B) Bailment for the sole benefit of the bailee. 
C) both a.and b. 
D) neither a.nor b. A

Question 3

After fully complying with the procedures of the Uniform Gifts to Minors Act,a donor is entitled to take back the donated property at any time before the minor donee reaches the age of 18.

Accepted Answer

A) True 
 B)False  False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Tom established a bank account for his daughter Mary under the Uniform Gifts to Minors Act.Tom named himself the custodian.Later,Tom had a serious disagreement with Mary and ordered the bank to transfer the money in that account to a similar account maintained in the same bank for Tom's son Ed.The bank must:

Accepted Answer

A) comply with Tom's order,because the custodian controls the account. 
B) refuse Tom's order,because this would clearly not be for the benefit of Mary. 
C) comply with Tom's order,because Uniform Gifts to Minors accounts are not final. 
D) comply with Tom's order if Mary is under 18 years of age and refuse the order if she is over 18 years of age. 
A) comply with Tom's order,because the custodian controls the account. 
B) refuse Tom's order,because this would clearly not be for the benefit of Mary. 
C) comply with Tom's order,because Uniform Gifts to Minors accounts are not final. 
D) comply with Tom's order if Mary is under 18 years of age and refuse the order if she is over 18 years of age.

Question 6

Which of the following is not a classification of ordinary bailments?

Accepted Answer

A) for the sole benefit of the bailor 
B) for the sole benefit of the bailee 
C) for the sole benefit of the third party beneficiary 
D) for the mutual benefit of the bailor and the bailee 
A) for the sole benefit of the bailor 
B) for the sole benefit of the bailee 
C) for the sole benefit of the third party beneficiary 
D) for the mutual benefit of the bailor and the bailee

Question 7

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.

Question 8

Most courts consider an engagement ring to be a conditional gift.

Accepted Answer

A) True 
 B)False

Question 9

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 10

The legal relation that arises when one person delivers possession of personal property to another under an express or implied agreement to return the property at a later date is called a:

Accepted Answer

A) tenancy agreement. 
B) bailment. 
C) rental agreement. 
D) trust arrangement. 
A) tenancy agreement. 
B) bailment. 
C) rental agreement. 
D) trust arrangement.

Question 11

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 ha

Question 12

A bailment is created:

Accepted Answer

A) when a person rents space in a building 
B) when a person rents a safe deposit box at a bank 
C) both a.and b. 
D) neither a.nor b. 
A) when a person rents space in a building 
B) when a person rents a safe deposit box at a bank 
C) both a.and b. 
D) neither a.nor b.

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

The Uniform Anatomical Gift Act permits persons sixteen (16)years of age or older to make gifts of their bodies or any parts thereof.

Accepted Answer

A) True 
 B)False

Question 15

In order for a bailment to be valid,the bailor must be the owner of the subject property.

Accepted Answer

A) True 
 B)False

Question 16

A bailee's duty of care for bailed property depends on the type of bailment.

Accepted Answer

A) True 
 B)False

Question 17

A third person to whom a joint tenant's interest is transferred becomes a:

Accepted Answer

A) joint tenant. 
B) cotenant. 
C) tenant in common. 
D) tenant by the entirety. 
A) joint tenant. 
B) cotenant. 
C) tenant in common. 
D) tenant by the entirety.

Question 18

Barry and Eldridge owned Blueacre as tenants in common.Eldridge died.Blueacre is owned:

Accepted Answer

A) solely by Barry because of the survivorship feature. 
B) jointly by Barry and the state because of escheat. 
C) by Barry and Eldridge's heirs. 
D) solely by Eldridge's heirs. 
A) solely by Barry because of the survivorship feature. 
B) jointly by Barry and the state because of escheat. 
C) by Barry and Eldridge's heirs. 
D) solely by Eldridge's heirs.

Question 19

Generally,a bailment agreement does not contain all the elements of a contract.

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 21: Personal Property and Bailments

Personal property includes all things of value including real estate.

The bailor must both inform the bailee of known defects and make a reasonable investigation to discover defects in a:

After fully complying with the procedures of the Uniform Gifts to Minors Act,a donor is entitled to take back the donated property at any time before the minor donee reaches the age of 18.

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

Which of the following is not a classification of ordinary bailments?

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

Most courts consider an engagement ring to be a conditional gift.

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.

The legal relation that arises when one person delivers possession of personal property to another under an express or implied agreement to return the property at a later date is called a:

A bailment is created:

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

The Uniform Anatomical Gift Act permits persons sixteen (16)years of age or older to make gifts of their bodies or any parts thereof.

In order for a bailment to be valid,the bailor must be the owner of the subject property.

A bailee's duty of care for bailed property depends on the type of bailment.

A third person to whom a joint tenant's interest is transferred becomes a:

Barry and Eldridge owned Blueacre as tenants in common.Eldridge died.Blueacre is owned:

Generally,a bailment agreement does not contain all the elements of a contract.

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.

The Nature and Sources of Law

The Court System and Dispute Resolution

Business Ethics, social Forces, and the Law

The Constitution As the Foundation of the Legal Environment

Government Regulation of Competition and Prices

Administrative Agencies

The Legal Environment of International Trade

Crimes

Torts

Intellectual Property Rights

Cyberlaw

Nature and Classes of Contracts: Contracting on the Internet

Formation of Contracts: Offer and Acceptance

Capacity and Genuine Assent

Consideration

Legality and Public Policy

Writing, electronic Forms, and Interpretation of Contracts

Third Persons and Contracts

Discharge of Contracts

Breach of Contract and Remedies

Legal Aspects of Supply Chain Management

Nature and Form of Sales

Title and Risk of Loss

Product Liability: Warranties and Torts

Obligations and Performance

Remedies for Breach of Sales Contracts

Kinds of Instruments, parties, and Negotiability

Transfers of Negotiable Instruments and Warranties of Parties

Liability of the Parties Under Negotiable Instruments

Checks and Funds Transfers

Nature of the Debtor-Creditor Relationship

Consumer Protection

Secured Transactions in Personal Property

Bankruptcy

Insurance

Agency

Third Persons in Agency

Regulation of Employment

Equal Employment Opportunity Law

Types of Business Organizations

Partnerships

LPs, LLCs, and LLPs

Corporate Formation

Shareholder Rights in Corporations

Securities Regulation

Accountants Liability and Malpractice

Management of Corporations

Real Property

Environmental Law and Land Use Controls

Leases

Decedents Estates and Trusts

Filters