Deck 14: Nature of Personal Property

Question 1

The mere act of creation of an intellectual property lends the creator with an absolute title to the property.

Answer 1

False

Question 2

When a bailment is for the sole benefit of a bailor, a bailee may receive benefits of ownership during the bailment.

Answer 2

False

Question 3

A transfer of fungible goods does not constitute a bailment.

Answer 3

False

Question 4

Mention a few instances where a bailee need not return bailed property in the same condition that it was delivered to him.

Question 5

Which of the following is most likely to fall in the category of intangible personal property?

A) Knowledge
B) Copyrights
C) Annual growing crops
D) Land

Question 6

Which of the following is most likely to happen when confusion of property belonging to two different owners occurs by accident?

A) Each party will be deemed the owner of a proportionate part of the mass.
B) The state takes ownership of the property until it can be clearly proven how much of the property of one was mingled with that of the other person.
C) The title to the total mass passes to that party which owned more property prior to the confusion taking place.
D) The ownership of the property will revert back to the government for a period of 2 years.

Question 7

Which of the following is true of bailments for the sole benefit of the bailee?

A) The owner of the bailed property receives adequate benefits or compensation in these bailments.
B) Any loss or damage to bailed property due to no fault of the bailee falls on the owner.
C) In these bailments, the bailee renders a service and charges for the service.
D) If the bailee is injured due to a defect in the bailed property, the bailor is not liable for damages.

Question 8

A finder of abandoned goods does not hold an absolute right to its possession.

Question 9

A case of someone finding and taking possession of lost property is an example of:

A) conversion of property.
B) a mutual-benefit bailment.
C) a bailment for the sole benefit of the bailee.
D) a bailment for the sole benefit of the bailor.

Question 10

A constructive bailment is a bailment for the sole benefit of the bailor.

Question 11

Tangible property left as security is a pledge.

Question 12

A copyright must be registered in order for the owner to sue for its infringement.

Question 13

The unauthorized exercise of ownership rights over another's property is known as a(n) _____.

A) accession
B) rescission
C) bailment
D) conversion

Question 14

Which of the following does the Uniform Disposition of Unclaimed Property Act claim?

A) A holder of property that the law presumes is abandoned must turn the property over to the state.
B) If an employee finds any property during the course of employment, the property belongs to the employer.
C) A finder of lost property has the right of possession against all but the true owner as long as the finder has not committed a wrong of some kind.
D) If property is mislaid, not lost, then the owner of the premises has first claim against all but the true owner.

Question 15

Bailments are governed by contracts.

Question 16

A _____ provides someone with an absolute title to his/her invention for a certain period of time.

A) trademark
B) patent
C) copyright
D) logo

Question 17

Which of the following statements is true about bailments?

A) Bailments are always governed by express contracts.
B) Title is transferred in a bailment, along with possession of an object for a short period of time.
C) In some cases, a bailment may exist when the recipient does not return the actual goods.
D) A bailment cannot be established without actual delivery and acceptance of the goods.

Question 18

The theft of trade secrets is a federal crime.

Question 19

Which of the following is an example of a bailment for the sole benefit of the bailor?

A) A laundry and dry cleaning contract
B) Sally leaving the keys of her house with her neighbor while she goes on vacation
C) Ken borrowing a suit from his friend for his graduation ceremony
D) Matt giving the keys of his car to a parking garage attendant after paying the parking fee

Question 20

When a person dies intestate, the laws of the decedent's state of residence will dictate how his personal property will be divided among his heirs.