Exam 48: Personal Property and Bailments

How property is taxed and what is required to transfer or acquire property is determined by whether the property is classified as tangible or intangible.

Gene leaves her Honda Fit with Intown Motors for routine maintenance. On its return, the interior of the car is greasy and the exterior is scratched and dented. Who suffers the loss and why?

Fact Pattern 48-1B (Questions B18-B19 apply) Truck & Transfer Inc. agrees to pick up two containers for United Home Products Corporation and store their contents, to be delivered later. While Truck & Transfer un?loads one container, the other disappears from the company's loading dock. -Refer to Fact Pattern 48-1B. Truck & Transfer can avoid liability

A bailment must be in writing to be valid.

EquipLease Company leases a thresher to Farm Harvest, Inc., a firm that contracts with farm owners to harvest their crops. The machine is seriously damaged through Farm Harvest's neglect. Most likely liable for the damage is

Someone who finds abandoned property acquires title to it and that title is good against the whole world, including the original owner.

Denny allows Elbert to store his trailer on Denny's property for $20 a month while Elbert works temporarily at a distant job site. Later, Denny no?tices rainwater collecting in the trailer and covers it with a tarp at a cost of $50. This cost is most likely borne by

Intangible personal property may be bailed.

Quentin wants to give Rowena a pearl necklace that he has in his safe de?posit box at Security Bank. The bank is closed for a holiday. Quentin gives Rowena a key to the box and tells her to go to the bank after the holi?day and take the necklace. Rowena does this. The next day, Quentin dies unex?pectedly. His heirs want the necklace. What type of gift was this? Can Rowena keep the necklace?

Randall steals a damaged, broken bike that is parked, unlocked, in a dorm bike rack. He repairs, paints, and replac?es parts on the bike un?til it is like new. The original owner, Sabi, then claims it. The bike be?longs to

James works at Kay's Breakfast Café. After work, in the parking lot, James finds a diamond ring lost by Lani. Title to the ring is possessed by

A fixture is normally included in a sale of land unless the sales contract specifies otherwise.

Oleg takes a PowerMade-brand rototiller to QuikFix Inc. for repairs. Lacking certain parts, QuikFix ships the rototiller to Repair & Parts Company. While in Repair & Parts's possession, the machine is damaged. QuikFix can recover for the damage from

Paca is declared mentally incompetent. Quelita, Paca's friend, insists that Paca transfer her considerable assets to Quelita "for safekeeping." If Paca makes this "gift," a court might conclude that it is not effective on the ground that there was no

Dallas asks Eddie if he can store his furniture in Eddie's garage while he serves a tour of duty with the U.S. Marines Corps. Eddie agrees. This is

Constructive delivery is a general term for all of those acts that the law holds to be equivalent to acts of real delivery.

GR8 Stores, Inc., hires Haul-Way Company, a common carrier, to trans?port 500 Intelo Game consoles from San Diego to Phoenix. En route, a pothole causes the truck to crash, damaging the goods. Liability for the damage most likely rests with

All transactions involving the delivery of property from one person to another create a bailment.

In most bailments, the bailee can retain the goods given by the bailor and return equivalent property.

A finder of mislaid property becomes the caretaker of the property.