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

Harvey's Car Rental rents Darlene an intermediate-size car at $159 per week for her business trip.What is the relationship between Harvey's and Darlene?

Barbara put her old clothes in a box in the bedroom of her roommate.The roommate now owns the clothes,because they are presumed to be a gift.

An insurable interest in property is a financial interest that justifies insuring such property.

All bills of lading are negotiable and may be transferred like a check.

The finder of lost property is entitled to possession of it,even against the true owner.

Defenses of the insurer include:

Intangible real property includes all of the following except:

Showplace insures its $160,000 building with two insurers: with Hometown Insurance for $60,000 and with National Insurance for $120,000.The building suffers a fire loss of $75,000.From whom and for how much can Showplace collect?

Bailments for the bailee's sole benefit are usually limited to the gratuitous loan of personal property for use by the bailee.

Margaret told Bill she would give him her concert tickets.Later she changed her mind and decided she wanted to use the tickets after all.Is Margaret required to give Bill the tickets?

When goods have been commingled,it is sometimes possible to get title by confusion.

A thief stole Harold's car and installed a tape deck in it.Later the police caught the thief and returned the car to Harold.Harold now owns the tape deck by accession.

The delivery necessary for a gift may be accomplished constructively.

Bailed property must be tangible.

A negotiable electronic document of title running to the order of a named person or to bearer is negotiated by delivery,which means voluntary transfer of control.

Which of the following is NOT personal property?

Which of the following is/are the criteria for a common carrier?

Claudia hires Greg to plant a tree in her yard.Greg discovers a shoebox buried in the ground.Greg owns the shoebox and its contents since he is the finder.

The basic principles of contract law apply to insurance policies.

Mary cleaned her dorm room in the spring and left a pile of books in Sara's room.Mary told everybody that the books were a gift to Sara.Does Sara have to dispose of them?