Deck 14: Nature of Personal Property

Question 1

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.

Answer 1

C

Question 2

Tangible property left as security is a pledge.

Answer 2

False

Question 3

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

Answer 3

B

Question 4

A bailment can be created by the unspoken conduct of the parties.

Question 5

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

Question 6

Which of the following is most likely to happen when one party intentionally and without consent mixes another's property with his own, resulting in confusion?

A)Title to the total mass passes to the innocent party, unless the mixing party can clearly prove how much of his property was confused with that of the innocent party.
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)Each party will be deemed the owner of a proportionate part of the mass.

Question 7

A finder of lost property has a right of possession against all but the true owner, as long as the finder has not committed a wrong of some kind.

Question 8

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

Question 9

The theft of trade secrets is a federal crime.

Question 10

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)Ken borrowing a suit from his friend for his graduation ceremony
C)Sally leaving her car in a neighbor's garage while Sally's carport is getting a new roof.
D)Matt giving the keys of his car to a parking garage attendant after paying the parking fee

Question 11

What rights does a finder have to abandoned property?

A)A finder has title to and absolute right to possession of abandoned property.
B)In states adopting the Uniform Disposition of Property Act, a holder of property that the law presumes is abandoned need not turn the property over to the state.
C)None, it must be held until the original owner can be found.
D)A finder has title against all others but the true owner.

Question 12

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

Question 13

When a person dies without a will, that person's property will pass according to the laws of intestacy.

Question 14

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 15

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

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

Question 16

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

Question 17

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

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

Question 18

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

Question 19

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 20

A transfer of fungible goods does not constitute a bailment.