Exam 47: Introduction to Property, property Insurance, Bailments, and Documents of Title

Carol took her earrings off at Marcia's beauty shop and put them on the counter.She left the shop without remembering the earrings.Betty finds them and wants to keep them.Can she?

If Jim,Ken,and Lee each deposit 10,000 bushels of wheat in a grain elevator,they would own one-third of the mixture by:

Why are delivery and acceptance both necessary to have a valid gift?

Harold says in the presence of three other people that he is giving his automobile to his nephew,and then hands the keys to the car to the nephew.Delivery of the auto has taken place.

Personal property so firmly attached to real property that an interest in it arises under real property law is known as a(n):

Name and briefly describe the special features or extraordinary duties of five special types of bailments.

At the end of a bailment,a bailee may correctly deliver the bailed property to a third party (other than the bailor)in certain cases.

A bill of lading serves as:

Sales of tangible personal property involve the transfer of title.

Dr.Olson is a board-certified ophthalmologist who constructs some specially designed examining tables to use in looking at his patient's eyes.The tables are firmly attached to the floor of the space he rents for his office.If Dr.Olson decides to move his office,which of the following is correct?

Collin insures his building for $250,000.At the time of loss,the property is valued at $220,000.Under:

The UCC does not cover:

The regulation of insurance has been left to the states.

Which of the following is a requirement of a valid gift?

The coverage of fire insurance policies varies by state,but the policies are written for no more than one-year terms.

An example of a bailment for the bailor's sole benefit is when Sherri,without compensation,lends her Cappuccino maker to Ed for Ed's party.

The most frequently used documents of title are the warehouse receipts issued by warehousers and the bills of lading issued by carriers.

Mark wants to give Susan his car.How can he effectively "deliver" it?

Temporary insurance coverage prior to the issuance of the actual policy may be obtained by use of a(n):

The anthropology department of Towers University is doing an excavation on property that belongs to the Browns.If,in the process of excavation,the university finds some valuable lost items,they will belong to the Browns and not to the university.