Question 1

Klondike and Leola own 10,000 shares of stock in My-T Gro Corporation.On the death of ether owner,that owner's interest in the stock passes to the surviving owner.This is

Accepted Answer

A)  a joint tenancy. 
B)  a tenancy by the entirety. 
C)  a tenancy in common. 
D)  ownership in fee simple absolute.

Question 2

If confusion occurs as a result of the act of a third party,that third party acquires ownership rights in proportion to the amount confused.

Accepted Answer

A) True 
 B)False

Question 3

Ruth gives Seth a computer as a gift.Using the computer,Seth develops a new game,for which he obtains intellectual property protection,and forms Top Games,Inc.,to make and market the game.Seth's acquisition of the game is by

Accepted Answer

A)  a bailment. 
B)  accession. 
C)  confusion. 
D)  production.

Question 4

During the last years of her life,Barb's chief companion was Sylvia.Barb told Sylvia that she could have a certain painting when Barb died. Barb died without a valid will.Her family refused to give the painting to Sylvia,however,who filed a suit to obtain its possession. Based on the decision in Case 43.1,In re Estate of Piper,the court will most likely rule in favor of

Accepted Answer

A)  Barb's family, because the painting was never delivered to Sylvia. 
B)  Sylvia, because Barb intended to give the painting to Sylvia. 
C)  Barb's family, because there was no will. 
D)  Sylvia, because Barb's family never cared about Barbara.

Question 5

Owen takes a Paisley-made pinball machine to Quality Games,Inc.,for repair.Lacking certain parts,Quality ships the game to Regal Repair Company.While in Regal's possession,the game is damaged.Quality can recover for the damage from

Accepted Answer

A)  no one. 
B)  Owen. 
C)  Paisley. 
D)  Regal.

Question 6

BroadView Company arranges to have Carrier Corporation,a common carrier,transport 500 DVD players from New York to California.Dan is Carrier's driver.BroadView will have no cause of action against Carrier if Carrier fails to deliver the players on time because

Accepted Answer

A)  authorities are stopping and searching all trucks entering California. 
B)  Carrier's dispatcher mistakenly delays Dan's departure. 
C)  Carrier's truck is broken into and the players are stolen. 
D)  Dan has to wait two days in Denver for the truck to be repaired.

Question 7

Nero and Olav each buy certain quantities of oil to sell to Petro Refinery,and agree to share storage costs until Petro can take delivery.The oil is commingled so that Nero's oil cannot be distinguished from Olav's.This is

Accepted Answer

A)  accession. 
B)  confusion. 
C)  conversion. 
D)  irresolution.

Question 8

Fact Pattern 35-1 
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 35-1.TTC can avoid liability

Accepted Answer

A)  by proof that TTC did not convert the goods and was not negligent. 
B)  by proof that TTC's warehouse is located in a high-crime area. 
C)  by proof that Unlimited Sales was negligent in hiring TTC. 
D)  under any circumstances.

Question 9

It is presumed that a co-tenancy is a tenancy in common unless there is a clear intention to establish a joint tenancy.

Accepted Answer

A) True 
 B)False

Question 10

Delivery of intangible personal property must be done by constructive delivery.

Accepted Answer

A) True 
 B)False

Question 11

A gift causa mortis is effective only if the donor dies and the donee lives.

Accepted Answer

A) True 
 B)False

Question 12

GR8 Stores,Inc.,hires Haul-Way Company,a common carrier,to transport fifty large-screen HDTVs 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

Accepted Answer

A)  GR8 Stores and Haul-Way. 
B)  GR8 Stores only. 
C)  Haul-Way only. 
D)  neither GR8 Stores nor Haul-Way.

Exam 35: Personal Property and Bailments

Klondike and Leola own 10,000 shares of stock in My-T Gro Corporation.On the death of ether owner,that owner's interest in the stock passes to the surviving owner.This is

If confusion occurs as a result of the act of a third party,that third party acquires ownership rights in proportion to the amount confused.

Ruth gives Seth a computer as a gift.Using the computer,Seth develops a new game,for which he obtains intellectual property protection,and forms Top Games,Inc.,to make and market the game.Seth's acquisition of the game is by

Owen takes a Paisley-made pinball machine to Quality Games,Inc.,for repair.Lacking certain parts,Quality ships the game to Regal Repair Company.While in Regal's possession,the game is damaged.Quality can recover for the damage from

BroadView Company arranges to have Carrier Corporation,a common carrier,transport 500 DVD players from New York to California.Dan is Carrier's driver.BroadView will have no cause of action against Carrier if Carrier fails to deliver the players on time because

Nero and Olav each buy certain quantities of oil to sell to Petro Refinery,and agree to share storage costs until Petro can take delivery.The oil is commingled so that Nero's oil cannot be distinguished from Olav's.This is

Fact Pattern 35-1 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 35-1.TTC can avoid liability

It is presumed that a co-tenancy is a tenancy in common unless there is a clear intention to establish a joint tenancy.

Delivery of intangible personal property must be done by constructive delivery.

A gift causa mortis is effective only if the donor dies and the donee lives.

GR8 Stores,Inc.,hires Haul-Way Company,a common carrier,to transport fifty large-screen HDTVs 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