Exam 49: A: Personal Property and Bailments

Uri borrows Vera's boat to enjoy with Wendell for a weekend.Uri runs the boat aground,damaging the hull.Liable for the cost of repairing the boat is

A bailor does not have a duty to compensate the bailee as reimbursement for costs incurred by the bailee in keeping the bailed property.

Luna leases a commercial building to operate Mom's Diner.During the term of the lease,Luna installs a new roof and a walk-in cooler,and repaves the parking lot.Most likely to meet the definition of a trade fix?ture is

A bailee has a responsibility to take appropriate care of the bailed property.

A bailment of persons is possible.

Fact Pattern 49-1B Town Transport Company (TTC)agrees to pick up two containers for Unlimited Sales,Inc. ,and store their contents,to be delivered later.While TTC un?loads one container,the other disappears from TTC's loading dock. -Refer to Fact Pattern 49-1B.TTC can avoid liability

A bailment cannot be found without the elements of control and knowledge.

An effective delivery requires that a donor retain control and dominion over the subject matter of a gift.

Businesses usually pay taxes on the personal property they own,use,or lease.

Baboo rents a golf cart at Country Club Golf Course.Durwood,the attendant,gives Baboo key number "12" and points to the cart lot behind the clubhouse.This is

John steals an old,battered bicycle that is parked,unlocked,in front of a convenience store.He repairs,paints,and replac?es parts on the bike un?til it is like new.The original owner,Kim,claims the bike.The bike be?longs to

One requirement of a valid gift is acceptance by the donee.

Roy leaves his pick-up truck at Sam's Auto Service for an oil change.This is a bailment for

Veritable Company stores office furniture with Warehouse Storage,Inc.(WSI),under a contract that limits the warehouse company's liability for lost or damaged property to $500.The furniture is lost through no fault of WSI.The loss is most likely suffered by

Warehouse companies are not liable for loss or damage to property resulting from negligence.

Trade fixtures are no exception to the rule that fixtures are a part of real property.

Per?sonal property is sometimes referred to as personally or chattel.

If the bailed property was destroyed or stolen,through no fault of the bailee,the bailee's obligation to return the property is excused.

In ordinary bailments,bailees do not have the right to limit their liability.

Those who find abandoned property cannot acquire ownership rights through mere possession of it.