Deck 47: Personal Property and Bailment

Question 1

Stock certificates are tangible personal property.

Answer 1

False

Question 2

Under the Uniform Gifts to Minors Act,gifts made to minors are within the sole control of the minor.

Answer 2

False

Question 3

Courts presume that a gift was accepted unless there is evidence to the contrary.

Answer 3

True

Question 4

The acquisition of personal property requires that a number of formalities be met before a transfer of ownership can take place.

Question 5

All tangible property is classified as either real or personal.

Question 6

In property law,confusion refers to an owner being unable to determine the extent of his property.

Question 7

The person giving a gift is called the donee.

Question 8

Catching fish with a license is an example of the acquisition of property by possession or capture.

Question 9

Generally,minerals,crops,and timber are personal property both while attached to the land and when severed from the land.

Question 10

A gift "causa mortis" can be revoked by the donor at any time prior to death.

Question 11

Property that is permanently affixed to the land is called a fixture.

Question 12

Animals such as pets are not considered to be tangible personal property.

Question 13

Fixtures are removed by the seller of real property when the real property is sold.

Question 14

Real property can become personal property if it is removed from the land.

Question 15

Making a gift of real property by delivering the deed to the recipient (donee),is an example of constructive or symbolic delivery.

Question 16

Accession refers to an increase in the market value of a piece of property.

Question 17

A gift requires actual delivery in order to be effective.

Question 18

A gift "causa mortis" is ineffective if the donor recovers from the existing illness or peril.

Question 19

Acquiring property by capture is much less important today than it was in the early days of the United States.

Question 20

All property can be classified as either real or personal.

Question 21

If the owner of lost or mislaid property ceases trying to locate it,the property can become abandoned.

Question 22

A person who dies without a will usually has his or her property distributed to his or her heirs according to the relevant state's inheritance statute.

Question 23

One way to acquire property is by production.

Question 24

The mere giving of a key to where personal property is kept is insufficient to satisfy the delivery requirement to call it a gift.

Question 25

Bailments can be express,implied,written,or oral.

Question 26

If an improvement to property was wrongfully made by an individual other than the owner,the owner will be allowed to acquire title to the improved property without having to pay the improver for the value of the improvements.

Question 27

The Uniform Gift to Minors Act make it possible for adults to make irrevocable gifts of money and securities to minors.

Question 28

The most common method of acquiring title to property is by finding it.

Question 29

When a bailment terminates,the bailee is legally obligated to do as the bailor directs with the property.

Question 30

Title to goods may not be acquired by confusion.

Question 31

If the owner of an automobile lends the automobile to a friend,a bailment has been created.

Question 32

An ordinary bailment occurs when the bailee is requested to care for the bailor's property as a favor.

Question 33

A gift inter vivos is a gift made in contemplation of death.

Question 34

Estray statutes provide that finders of lost property will always eventually acquire title to it.

Question 35

Accession that occurs naturally usually belongs to the first buyer to give notice to the seller.

Question 36

Generally,a finder of lost property has superior rights to that property against everyone,except the original owner.

Question 37

Bailees are allowed to commingle fungible goods.

Question 38

The distinction between lost and mislaid property is based on whether the property was tangible or intangible.

Question 39

A gift causa mortis takes precedence over a prior conflicting will.

Question 40

The finder of lost property acquires the same rights as the finder of mislaid property.

Question 41

All property can be classified into which of the following?

A) intellectual and personal
B) personal and impersonal
C) real and illusory
D) personal and fixtures
E) real and personal

Question 42

Common carriers are held to a general duty of care if goods are lost,damaged,destroyed or stolen.

Question 43

The highest duty of care is owed by bailees when the bailment is for the sole benefit of the bailee.

Question 44

A stock certificate is an example of:

A) tangible,personal,private property
B) intangible,personal,private property
C) intangible,real,private property
D) intangible,personal,public property
E) tangible,real,public property

Question 45

Which is true about fixtures?

A) A fixture is personal property that has become real property,and an important aspect of whether an item is a fixture is whether the real property would be damaged upon the item's removal.
B) If an item is a fixture,it is personal property.
C) The seller of property generally keeps the fixtures when the property is sold.
D) "Trade fixtures" are generally a part of the associated real property.

Question 46

If lost personal property is found by an employee in a business establishment,who has the superior rights to that property?

A) the finder/employee
B) the owner of the business
C) the police department
D) the state government
E) the federal government

Question 47

The finder of lost property acquires:

A) no rights in the property
B) rights that are good against everyone but the true owner
C) rights that are good against everyone including the true owner
D) rights to use the property until it must be turned over to the state
E) a life estate in the found property

Question 48

When an animal owned by someone has offspring,the party who owns the mother has acquired the offspring by:

A) gift
B) production
C) accession
D) inheritance
E) confusion

Question 49

One of the purposes of estray statutes is to:

A) deprive careless people of their property as punishment for losing it
B) allow finders of lost or mislaid property to acquire clear title if certain requirements are met,thus preventing the original owner from reclaiming it
C) determine whether found property is lost or mislaid property
D) allow the state to gain title to lost or mislaid property

Question 50

An airline ticket for travel to Honolulu and back is what kind of property?

A) real tangible
B) real intangible
C) personal tangible
D) personal intangible

Question 51

The distinction between lost property and mislaid property depends upon:

A) whether the true owner later finds it
B) whether the true owner intentionally placed the property in the place where it was found
C) whether the property belonged to a minor or an adult
D) whether the property was found on public or private property

Question 52

If bailed property is destroyed while in the possession of the bailee,the bailee is presumed to be liable.

Question 53

In most cases,a bailment for hire is considered to be for the benefit of the bailee.

Question 54

If a farmer takes some grain to a storage facility and later returns to retrieve an equal quantity of grain that is not the same grain placed in storage,the farmer has acquired ownership of the retrieved grain by:

A) succession
B) production
C) accession
D) mixture
E) confusion

Question 55

Bailments are established to continue for an indefinite period of time.

Question 56

A warehouse is liable only for loss or damage to bailed property caused by its own negligence.

Question 57

A bailment at will can be terminated at any time by only the bailor.

Question 58

In order to be legally effective to transfer title,a gift must meet all of the following requirements except:

A) present intent by the donor to make the gift
B) consideration on the part of the donee
C) delivery of the subject matter to the donee
D) acceptance of the gift by the donee

Question 59

Which of the following is true when someone accidentally makes an improvement to the personal property of another where the owner was unaware of the improvement until after it had been made?

A) The property owner gets to keep the improvement in all circumstances and is not required to pay for it.
B) The property owner gets to keep the improvement in all cases,but must pay the party who improved it the reasonable value of the improvement.
C) The party who made the improvement can remove it if this is possible,otherwise the owner of the property gets to keep the improvement and is not required to pay for it.
D) The party who made the improvement can remove it if this is possible,otherwise the owner of the property gets to keep the improvement and must pay the party who improved it the reasonable value of the improvement.

Question 60

Innkeepers may not limit their liability regardless of notification to their guests of the dollar limit placed on liability for a guest's property.

Question 61

Roger buys lumber and supplies and builds a very expensive desk.Roger has acquired title to this desk by:

A) purchase
B) production
C) gift
D) accession
E) confusion

Question 62

A bailment is:

A) usually the preliminary step to a permanent transfer of goods
B) the rightful possession of goods by someone other than the owner
C) a quantity of harvested hay packaged in a size that is easy to transport
D) required to be in writing in order to be effective
E) characterized by a splitting of title into legal and beneficial components

Question 63

Mary owns a farm.On the farm is a barn,a tractor,and some crops growing in the fields.Which of the following statements is not true regarding Mary's property?

A) All of Mary's property mentioned above is tangible.
B) The crops are real property until they are harvested,when they become personal property.
C) The tractor is a fixture.
D) The barn is real property,although at some point in the past the supplies used to build it were personal property.

Question 64

Victor had a priceless painting that he wanted to give to Gwen,but Victor wanted to keep it hanging in his house so he could see it.Victor physically gave the painting to Gwen,who immediately loaned it back to Victor,so Victor could keep it until Victor died.Upon Victor's death,Gwen claims the painting.Which of the following best describes this situation?

A) Victor has made a valid gift to Gwen.
B) This gift is not valid because there is no donative intent.
C) This gift is not valid because the purported delivery is ineffective.
D) This gift is not valid because there is no acceptance.
E) This gift is not valid because there is no consideration.

Question 65

Which of the following is not necessary for bailment?

A) personal property
B) actual delivery of possession
C) duty to return the property to the owner
D) B and C
E) A and B

Question 66

George wants to give a dining room table to Colleen.The table is in a self-serve storage unit.George gives the key to the storage unit to Colleen.Colleen takes the key,showing the appropriate gratitude.Which of the following statements best describes this situation?

A) George has made a valid gift to Colleen.
B) This gift is not valid because there is no donative intent.
C) This gift is not valid because there is no delivery.
D) This gift is not valid because there is no acceptance.
E) This gift is not valid because there is no consideration.

Question 67

You are at a booth in a restaurant and find some tickets on the seat of the booth.These tickets are to the opening Olympic ceremonies in Salt Lake City in 2002,but contain no name or other indication as to whose they are.Which of the following could be crucial as to whether you or the restaurant would get the tickets?

A) whether they are tangible or intangible property
B) whether they are real or personal property
C) whether the tickets have already been paid for or not
D) whether the tickets are a treasure trove
E) whether the tickets are lost or mislaid property

Question 68

Grandpa calls Billy and says,"I want you to have my toy train set.I'll bring it by next week." Billy says that he would love to have it.Grandpa dies unexpectedly that afternoon,and in his will leaves everything to Alicia,Billy's cousin.Which is true?

A) Billy gets the train because of the agreement with Grandpa.
B) Billy gets the train because there was donative intent on Grandpa's part and he (Billy) accepted the gift.
C) Alicia gets the train because Grandpa had not yet taken the train to Billy.
D) Billy gets at least part interest in the train because Grandpa cannot treat his cousins unequally in his will.
E) Alicia and Billy now each have a half interest in the train because Grandpa and Billy owned the train as tenants in common at the time of Grandpa's death.

Question 69

Edward's Warehouse stores a variety of generic goods for several distributors in Anytown.Which of the following describes Edward's liability for the bailed goods should something happen to them?

A) strict liability
B) comparative liability
C) ordinary negligence
D) criminal liability

Question 70

Some trees were cut down and made into lumber,and the lumber was used to build a house.What type of property were the trees while growing,as lumber,and as part of the house,respectively?

A) real,real,real
B) personal,real,real
C) personal,personal,real
D) real,real,personal
E) real,personal,real

Question 71

A customer goes into a restaurant and sits down at a table where she finds a Wyoming state road map and four unused Jackson Hole lift tickets paper clipped to the map sitting on the table.This is most likely:

A) abandoned property because it was left by the previous customer
B) lost property entitling the finder to keep it
C) an uncompleted gift to the waitperson
D) mislaid property that the finder should turn over to the restaurant
E) property of the Jackson Hole Ski area

Question 72

Which of the following would be classified as tangible personal property?

A) a desk
B) built-in cabinets
C) a copyright
D) a field of corn
E) All of these are correct.

Question 73

Historically,the bailee must exercise what level of care in a bailment for the bailee's exclusive benefit?

A) utmost
B) minimal
C) ordinary
D) strict liability

Question 74

Melissa's cat Fluffy has a litter of five kittens.Melissa owns the kittens by:

A) gift
B) accession
C) confusion
D) inheritance
E) bailment

Question 75

A couple of weeks before her sister graduates,Dorothy says to her,"I promise to give you a new mountain bike when you graduate." Her sister graduates and Dorothy takes the bike to her sister,who is thrilled to get the bike.Her sister loves the way it rides,but Dorothy has a change of mind.Dorothy sues to recover the bike from her sister.A court is most likely to rule that:

A) Her sister must give the bike back because a promise to make a gift is not enforceable.
B) The sister must give the bike back because all the requirements of a gift have not been met.
C) The sister must give the bike back if Dorothy has asked for its return within a reasonable time.
D) The sister need not give the bike back because the gift has been completed.
E) The sister need not give the bike back,but must pay Dorothy a reasonable amount if she wants to keep the bike and Dorothy requests this within a reasonable time.

Question 76

A bailment where money is paid from one party to the other is usually described as:

A) solely for the benefit of the bailor
B) solely for the benefit of the bailee
C) for the mutual benefit of the bailor and the bailee
D) solely for the benefit of the bailor or bailee,depending on which received the money that changed hands

Question 77

Which of the following is not one of a common carrier's traditional exceptions to liability for goods in its possession?

A) damage caused by an act of God
B) damage caused by an act of a public enemy
C) damage caused by an act of the shipper
D) damage caused by an act or event not foreseeable by the common carrier
E) damage caused by the inherent nature of the goods

Question 78

Alfred owns a bed and breakfast called Al's Quaint B&B in Somewhere,Maine.Rita Ritz has decided to stay at Al's for a week.She displays her wealth by wearing a four-carat diamond ring,a ruby necklace and bracelet,and a Versace purse.Al's has never had any reports of thefts in the 26 years he's operated his bed and breakfast.In the event of a theft,which of the following can Al do in order to limit his liability for the loss from the theft?

A) He must provide a safe for his guests valuables.
B) He must make the safe available for his guests.
C) He must post a sign of his limit of liability notifying his guests of the same.
D) All of these are correct.
E) None of these are correct.

Question 79

You call by phone to a concert ticket service and use your credit card to purchase two tickets to the "Elvis Reincarnation Tour" concert scheduled for July 4.Assuming that Elvis truly has returned and will play at the show,which of the following is true after you hang up the phone.

A) You have acquired no property now,but will when the concert starts.
B) You have just acquired tangible personal property.
C) You have just acquired intangible personal property.
D) You have acquired no property now,but will when the concert tickets arrive in the mail.

Question 80

Bob is camping in the mountains one cold winter with a friend of his,Alfred.Bob writes a postcard to his college roommate that says,"Dear Frank,I am giving you the antique desk in my Denver home.Come pick it up once I am back in town.With kind regards from your freezing cold friend,Bob." Bob freezes to death at his campsite an hour later.Bob has no will but his wife is his only heir.What is true?

A) Bob made an effective gift causa mortis to Frank.
B) So long as Frank wants the desk,he has the required donative intent.
C) Bob has made a voidable promise.
D) An effective gift has not been made here.
E) Frank will be entitled to the desk if,after Bob's death,he learns of the unmailed postcard.