Question 1

Some businesses may be subject to both federal and provincial regulations.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements is correct with respect to the creation of a bailment?

Accepted Answer

A) For a bailment to be created, the property must be given with the understanding that payment would be given for the service. 
B) The duty of care imposed on the bailee in a bailment for value is usually that of a reasonable person in the circumstances. 
C) A bailment is the process provided for releasing people from jail before trial. 
D) A bailment is not created when the transfer of the property is only done incidentally, such as leaving a watch with a watchmaker for repair. 
E) Bailments can only be created through contracts. 
A) For a bailment to be created, the property must be given with the understanding that payment would be given for the service. 
B) The duty of care imposed on the bailee in a bailment for value is usually that of a reasonable person in the circumstances. 
C) A bailment is the process provided for releasing people from jail before trial. 
D) A bailment is not created when the transfer of the property is only done incidentally, such as leaving a watch with a watchmaker for repair. 
E) Bailments can only be created through contracts.

Question 3

Mr.Hoo granted a first mortgage on his property to Vancouver Trust as security for a loan of $110 000 and a second mortgage to Hong Kong Bank as security for a loan of $25 000.Which of the following statements is false?

Accepted Answer

A) If Hoo were to default on his first mortgage, Vancouver Trust could start the foreclosure process. 
B) If Hoo were to default on his first mortgage and the property was sold under court order, the proceeds from that sale would go first to Vancouver Trust, second to Hong Kong Bank, and the remainder, if any, to Hoo. 
C) If Hoo were to default on his second mortgage only and the second mortgagee foreclosed, then the first mortgagee and Hoo himself would lose their interests in the property. 
D) Hoo has given the fee simple interest in his property to Vancouver Trust; he has given Hong Kong Bank only his equity of redemption. 
E) If Hoo were to default on his first mortgage, his creditors could ask that the court order the property to be sold to avoid foreclosure. 
A) If Hoo were to default on his first mortgage, Vancouver Trust could start the foreclosure process. 
B) If Hoo were to default on his first mortgage and the property was sold under court order, the proceeds from that sale would go first to Vancouver Trust, second to Hong Kong Bank, and the remainder, if any, to Hoo. 
C) If Hoo were to default on his second mortgage only and the second mortgagee foreclosed, then the first mortgagee and Hoo himself would lose their interests in the property. 
D) Hoo has given the fee simple interest in his property to Vancouver Trust; he has given Hong Kong Bank only his equity of redemption. 
E) If Hoo were to default on his first mortgage, his creditors could ask that the court order the property to be sold to avoid foreclosure.

Question 4

With respect to the land titles system of registering interests in land, which one of the following is true?

Accepted Answer

A) This registration system is the same throughout Canada because the procedure has been set by the federal government to ensure a uniform method of registration. 
B) Mortgages, judgments, and easements need not be registered to protect those interests against third-party claims.Registration of such interests is voluntary and won't affect one's interest. 
C) When land is registered under the land titles system, it provides the advantage of guaranteed title and conclusive evidence of who has title to the property in any court. 
D) Most provinces in Canada have moved away from the land titles system in favour of the land registry system. 
E) The system exists to safeguard the documents; the government is not guaranteeing title. 
A) This registration system is the same throughout Canada because the procedure has been set by the federal government to ensure a uniform method of registration. 
B) Mortgages, judgments, and easements need not be registered to protect those interests against third-party claims.Registration of such interests is voluntary and won't affect one's interest. 
C) When land is registered under the land titles system, it provides the advantage of guaranteed title and conclusive evidence of who has title to the property in any court. 
D) Most provinces in Canada have moved away from the land titles system in favour of the land registry system. 
E) The system exists to safeguard the documents; the government is not guaranteeing title.

Question 5

Which of the following statements is correct with respect to personal property that becomes attached to real property?

Accepted Answer

A) When a tenant attaches tangible personal property to the real property he has rented in order to use it in his trade or profession, those trade fixtures cannot be removed when he leaves. 
B) When a person renting a home attaches a mirror to the wall to better use it, he cannot take that mirror with him when he leaves. 
C) When tangible personal property becomes attached to the real property, it is unlawful to remove it under any circumstances. 
D) When tangible personal property becomes attached, it becomes part of the real property. 
E) The owner of real property does not have the right to detach a fixture if he so desires. 
A) When a tenant attaches tangible personal property to the real property he has rented in order to use it in his trade or profession, those trade fixtures cannot be removed when he leaves. 
B) When a person renting a home attaches a mirror to the wall to better use it, he cannot take that mirror with him when he leaves. 
C) When tangible personal property becomes attached to the real property, it is unlawful to remove it under any circumstances. 
D) When tangible personal property becomes attached, it becomes part of the real property. 
E) The owner of real property does not have the right to detach a fixture if he so desires.

Question 6

A fidelity bond provides compensation for the wrongful conduct of employees.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is incorrect in relation to commercial tenancies?

Accepted Answer

A) A lease does not grant an interest in land. 
B) The Statute of Frauds requires that leases be evidenced in writing to be enforceable. 
C) Most jurisdictions consider a lease of less than three years to be enforceable even without writing. 
D) A leasehold interest will run with the land if it is properly registered. 
E) If construction interferes with the tenant's access to the property, this is a breach to the tenant's right to quiet enjoyment. 
A) A lease does not grant an interest in land. 
B) The Statute of Frauds requires that leases be evidenced in writing to be enforceable. 
C) Most jurisdictions consider a lease of less than three years to be enforceable even without writing. 
D) A leasehold interest will run with the land if it is properly registered. 
E) If construction interferes with the tenant's access to the property, this is a breach to the tenant's right to quiet enjoyment.

Question 8

With regard to interests in land, which one of the following statements is true?

Accepted Answer

A) An easement in land is characterized by giving the owner of the estate exclusive possession of that property for some time. 
B) If Carol and Mary buy land and later use it to secure debt, possession of the property will be transferred to the creditor until the debt is repaid. 
C) If a joint tenant severs the joint tenancy, he can then will his interest in the land to whomever he chooses, and on his death the person named will take his interest. 
D) Tenancy in common is often used by families to get around inheritance taxes and probate fees. 
E) A joint tenant can sever the joint tenancy by bequeathing his interest in the property in a will, naming a third person as beneficiary. 
A) An easement in land is characterized by giving the owner of the estate exclusive possession of that property for some time. 
B) If Carol and Mary buy land and later use it to secure debt, possession of the property will be transferred to the creditor until the debt is repaid. 
C) If a joint tenant severs the joint tenancy, he can then will his interest in the land to whomever he chooses, and on his death the person named will take his interest. 
D) Tenancy in common is often used by families to get around inheritance taxes and probate fees. 
E) A joint tenant can sever the joint tenancy by bequeathing his interest in the property in a will, naming a third person as beneficiary.

Question 9

Explain what is foreclosed in the foreclosure proceedings related to mortgages.

Accepted Answer

The debtor's right t

Question 10

"When a tenant has signed a two-year lease and then for some reason finds himself in the position where he has to leave, the landlord has an obligation to try to rent out the premises to someone else." Explain the accuracy of this statement.

Accepted Answer

Except where otherwise created by statut

Question 11

In 2004, Ned bought two hectares in Richmond.In 2014, he subdivided the property, keeping Lot A for himself and selling Lot B to Weerdt.Ned also retained a right of way along one side of Lot B to permit access to the road.Another term of the contract required Weerdt to plant a row of poplar trees along the boundary with Lot A within two months of the sale.Both covenants were registered.Weerdt took possession and soon built a small motorcross course near Ned's lot where he and his friends practised on their unmuffled dirt bikes, during which times Ned was unable to use his backyard because of the noise.Weerdt hauled the cycles around in his truck, which he often parked either on Ned's property or in the right of way, blocking Ned's passage.Weerdt never did plant the trees.Based on these facts, which one of the following is false?

Accepted Answer

A) Ned could sue Weerdt for the tort of nuisance. 
B) Ned could secretly place strips of spikes on his property to deflate the tires of those who trespassed on his property. 
C) Ned could ask for an injunction as a remedy. 
D) Ned could sue Weerdt for interference with his right of way. 
E) Ned could sue Weerdt for breach of contract. 
A) Ned could sue Weerdt for the tort of nuisance. 
B) Ned could secretly place strips of spikes on his property to deflate the tires of those who trespassed on his property. 
C) Ned could ask for an injunction as a remedy. 
D) Ned could sue Weerdt for interference with his right of way. 
E) Ned could sue Weerdt for breach of contract.

Question 12

A voluntary bailment can occur when someone borrows an item from a neighbour.

Accepted Answer

A) True 
 B)False

Question 13

A husband and wife own Lot A as joint tenants and Lot B as tenants in common.The husband's will reads: "I leave Lot A to my son, John, and Lot B to my daughter, Mary." Who takes what when the husband dies?

Accepted Answer

A) The son, John, gets Lot A and the daughter, Mary, gets Lot B, just as their father wished and designated in his will. 
B) Mary will get her father's interest in Lot B, but John will get no interest in Lot A. 
C) Mary will get all of Lot B but John will not get Lot A because it was co-owned with the mother in joint tenancy, so the mother takes Lot A as the surviving joint tenant. 
D) Mary will get her father's interest in Lot B, but John will only get a life tenancy in Lot A. 
E) John will get Lot A but Mary will not get Lot B because it was co-owned with the mother as tenants in common, so the mother takes Lot B as the other tenant in common. 
A) The son, John, gets Lot A and the daughter, Mary, gets Lot B, just as their father wished and designated in his will. 
B) Mary will get her father's interest in Lot B, but John will get no interest in Lot A. 
C) Mary will get all of Lot B but John will not get Lot A because it was co-owned with the mother in joint tenancy, so the mother takes Lot A as the surviving joint tenant. 
D) Mary will get her father's interest in Lot B, but John will only get a life tenancy in Lot A. 
E) John will get Lot A but Mary will not get Lot B because it was co-owned with the mother as tenants in common, so the mother takes Lot B as the other tenant in common.

Question 14

Which of the following is one of the implied rights of a lessee of a commercial tenancy?

Accepted Answer

A) The lessor will repair unfurnished premises. 
B) The lessee will deliver vacant possession to the new tenant at the time they agreed the lease period would start. 
C) The lessee will give the lessor possession. 
D) The lessee can use and enjoy the premises for all usual purposes without physical interference from the lessor. 
E) The lessor is assured against the interference by a third party. 
A) The lessor will repair unfurnished premises. 
B) The lessee will deliver vacant possession to the new tenant at the time they agreed the lease period would start. 
C) The lessee will give the lessor possession. 
D) The lessee can use and enjoy the premises for all usual purposes without physical interference from the lessor. 
E) The lessor is assured against the interference by a third party.

Question 15

What is meant by a reversionary interest in a life estate?

Accepted Answer

When the original grantor of the life es

Question 16

If someone stores goods on your property without permission, and you exercise no control over those goods, there is no duty to take care of them.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is false with regard to the nature of mortgages?

Accepted Answer

A) A second mortgage is referred to as an equitable mortgage because it is the equity of redemption that is transferred to the mortgagee as security. 
B) The land titles system of land registration provides that the mortgagee does not show up as the registered owner on the state of title certificate but merely as the holder of a charge against the property. 
C) In the event of default, the first mortgagee must wait until the end of the redemption period to ask the court to make the foreclosure absolute if payment has not been made. 
D) In the case of default, the property cannot be sold by a second mortgagee until the end of the redemption period. 
E) Unlike an agreement for sale, under which an owner retains title to his property until the purchaser makes all payments, a mortgage is a document by which the owner conveys title to a lender. 
A) A second mortgage is referred to as an equitable mortgage because it is the equity of redemption that is transferred to the mortgagee as security. 
B) The land titles system of land registration provides that the mortgagee does not show up as the registered owner on the state of title certificate but merely as the holder of a charge against the property. 
C) In the event of default, the first mortgagee must wait until the end of the redemption period to ask the court to make the foreclosure absolute if payment has not been made. 
D) In the case of default, the property cannot be sold by a second mortgagee until the end of the redemption period. 
E) Unlike an agreement for sale, under which an owner retains title to his property until the purchaser makes all payments, a mortgage is a document by which the owner conveys title to a lender.

Question 18

The only person who has a better claim to goods that are found is the original owner.

Accepted Answer

A) True 
 B)False

Question 19

Explain what right is conveyed by an easement.

Accepted Answer

This gives the right to a pers

Question 20

A person owns a half interest in a house valued at $200 000 and has insurance on that property in the amount of $400 000.If the house burns down, causing a loss of $100 000, how much will that person collect?

Accepted Answer

A) $50 000 
B) $200 000 
C) $1000 
D) $400 000 
E) Nothing 
A) $50 000 
B) $200 000 
C) $1000 
D) $400 000 
E) Nothing

Some businesses may be subject to both federal and provincial regulations.

Which of the following statements is correct with respect to the creation of a bailment?

Mr.Hoo granted a first mortgage on his property to Vancouver Trust as security for a loan of $110 000 and a second mortgage to Hong Kong Bank as security for a loan of $25 000.Which of the following statements is false?

With respect to the land titles system of registering interests in land, which one of the following is true?

Which of the following statements is correct with respect to personal property that becomes attached to real property?

A fidelity bond provides compensation for the wrongful conduct of employees.

Which of the following is incorrect in relation to commercial tenancies?

With regard to interests in land, which one of the following statements is true?

Explain what is foreclosed in the foreclosure proceedings related to mortgages.

"When a tenant has signed a two-year lease and then for some reason finds himself in the position where he has to leave, the landlord has an obligation to try to rent out the premises to someone else." Explain the accuracy of this statement.

A voluntary bailment can occur when someone borrows an item from a neighbour.

A husband and wife own Lot A as joint tenants and Lot B as tenants in common.The husband's will reads: "I leave Lot A to my son, John, and Lot B to my daughter, Mary." Who takes what when the husband dies?

Which of the following is one of the implied rights of a lessee of a commercial tenancy?

What is meant by a reversionary interest in a life estate?

If someone stores goods on your property without permission, and you exercise no control over those goods, there is no duty to take care of them.

Which of the following is false with regard to the nature of mortgages?

The only person who has a better claim to goods that are found is the original owner.

Explain what right is conveyed by an easement.

A person owns a half interest in a house valued at $200 000 and has insurance on that property in the amount of $400 000.If the house burns down, causing a loss of $100 000, how much will that person collect?

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Exam 8: Property

Some businesses may be subject to both federal and provincial regulations.

Which of the following statements is correct with respect to the creation of a bailment?

Mr.Hoo granted a first mortgage on his property to Vancouver Trust as security for a loan of $110 000 and a second mortgage to Hong Kong Bank as security for a loan of $25 000.Which of the following statements is false?

With respect to the land titles system of registering interests in land, which one of the following is true?

Which of the following statements is correct with respect to personal property that becomes attached to real property?

A fidelity bond provides compensation for the wrongful conduct of employees.

Which of the following is incorrect in relation to commercial tenancies?

With regard to interests in land, which one of the following statements is true?

Explain what is foreclosed in the foreclosure proceedings related to mortgages.

"When a tenant has signed a two-year lease and then for some reason finds himself in the position where he has to leave, the landlord has an obligation to try to rent out the premises to someone else." Explain the accuracy of this statement.

A voluntary bailment can occur when someone borrows an item from a neighbour.

A husband and wife own Lot A as joint tenants and Lot B as tenants in common.The husband's will reads: "I leave Lot A to my son, John, and Lot B to my daughter, Mary." Who takes what when the husband dies?

Which of the following is one of the implied rights of a lessee of a commercial tenancy?

What is meant by a reversionary interest in a life estate?

If someone stores goods on your property without permission, and you exercise no control over those goods, there is no duty to take care of them.

Which of the following is false with regard to the nature of mortgages?

The only person who has a better claim to goods that are found is the original owner.

Explain what right is conveyed by an easement.

A person owns a half interest in a house valued at $200 000 and has insurance on that property in the amount of $400 000.If the house burns down, causing a loss of $100 000, how much will that person collect?

The Canadian Legal System

Torts and Professional Liability

Formation of Contracts

Enforcing Contractual Obligations

Legislation in the Marketplace

Agency and Employment

Methods of Carrying on Business

Ideas and Information

Electronic Commerce and International Trade

Filters