Question 1

Wrongful dominion over a principal's tangible personal property is a form of conversion.

Accepted Answer

A) True 
 B)False

Question 2

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 3

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 4

If a thief sells stolen property to a good-faith buyer, the buyer acquires title to the property.

Accepted Answer

A) True 
 B)False

Question 5

Warren brought his television in for repairs.After Warren left the store, gunmen came in to rob the proprietor.As they ran out, Warren's television was knocked over and destroyed.Warren demanded that the proprietor of the store compensate him for the fair market value of the television.The bailee:

Accepted Answer

A) ​is liable, since the goods were not returned to Warren in proper condition. 
B) is liable, since the bailee did not prevent the gunmen from damaging the television. 
C) ​is not liable, since this was a mutual-benefit bailment. 
D) ​is not liable, since the damage was caused by the criminal act of a third party. 
A) ​is liable, since the goods were not returned to Warren in proper condition. 
B) is liable, since the bailee did not prevent the gunmen from damaging the television. 
C) ​is not liable, since this was a mutual-benefit bailment. 
D) ​is not liable, since the damage was caused by the criminal act of a third party.

Question 6

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 7

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

Accepted Answer

A) True 
 B)False

Question 8

Joint tenancy and tenancy in common both feature the right of survivorship.

Accepted Answer

A) True 
 B)False

Question 9

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.

Question 10

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 11

Jill claims that Fred, who is terminally ill and scheduled for surgery, gave her a gift of a pearl necklace.Fred says he never made such a gift and that Jill has wrongfully retained his property.If this dispute goes to court, what will the court need to determine?

Accepted Answer

A) ​Whether Fred made a gift causa mortis. 
B) Whether Fred had donative intent. 
C) ​Whether Jill accepted the property. 
D) ​Whether Jill made a gift inter vivos. 
A) ​Whether Fred made a gift causa mortis. 
B) Whether Fred had donative intent. 
C) ​Whether Jill accepted the property. 
D) ​Whether Jill made a gift inter vivos.

Question 12

Title to personal property can be acquired by gift or purchase or stolen property.

Accepted Answer

A) True 
 B)False

Question 13

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 14

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 15

In a bailment, the bailee does not necessarily have to be aware that the bailed goods were placed within the Bailee's exclusive possession or control.

Accepted Answer

A) True 
 B)False

Question 16

__________ 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 17

If a bailment is for the sole benefit of the bailee, the bailor has no obligation to inform the bailee of known defects.

Accepted Answer

A) True 
 B)False

Question 18

A right in a thing is considered property.

Accepted Answer

A) True 
 B)False

Question 19

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

Question 20

Transfer or possession and use of bailed property without compensation is called a constructive bailment.

Accepted Answer

A) True 
 B)False

Exam 20: Personal Property and Bailments

Wrongful dominion over a principal's tangible personal property is a form of conversion.

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

If a thief sells stolen property to a good-faith buyer, the buyer acquires title to the property.

Warren brought his television in for repairs.After Warren left the store, gunmen came in to rob the proprietor.As they ran out, Warren's television was knocked over and destroyed.Warren demanded that the proprietor of the store compensate him for the fair market value of the television.The bailee:

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.

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

Joint tenancy and tenancy in common both feature the right of survivorship.

Bailments may be:

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

Jill claims that Fred, who is terminally ill and scheduled for surgery, gave her a gift of a pearl necklace.Fred says he never made such a gift and that Jill has wrongfully retained his property.If this dispute goes to court, what will the court need to determine?

Title to personal property can be acquired by gift or purchase or stolen property.

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

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.

In a bailment, the bailee does not necessarily have to be aware that the bailed goods were placed within the Bailee's exclusive possession or control.

__________ property means land and things embedded in the land.

If a bailment is for the sole benefit of the bailee, the bailor has no obligation to inform the bailee of known defects.

A right in a thing is considered property.

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

Transfer or possession and use of bailed property without compensation is called a constructive bailment.

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

Crimes

Torts

Intellectual Property Rights and the Internet

The Legal Environment of International Trade

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 Negotiable Instruments 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

Filters

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