Exam 37: Personal Property, Bailment, and Insurance

What was the result in Amex Life Assurance Company v.Slome Capital Corp.,involving whether an insurer was bound to pay on a policy,even though the insured had someone else take his physical examination for him in order to conceal that he was HIV-positive?

An "insurable interest" can best be described as:

Title to goods cannot be acquired by confusion.

A gift is valid only if the donee gives the same amount of consideration for the property that the donor gives.

Personal property can be acquired or transferred with a minimum of formality.

Tony comes home from a night out and hangs his clothes in his closet before going to bed.In the morning,he cannot find his keys,which he left in his pants pocket hung in his closet.The keys are:

Personal property can be divided into the three categories of tangible,intangible,and real property.

Historically,in a bailment for the sole benefit of the bailee,the bailee owes a duty of great care to protect the bailed property.

What is the logic behind the three different levels of duty of care owed for bailments,depending on who benefits from the bailment? Should these distinctions be eliminated? If so,what is the appropriate level of care to apply to all bailments?

Seth takes his watch to Wally's Watch Repair to have it fixed.When Seth gets his watch back,the crystal,although perfect when it was brought in,is now cracked.Which of the following is correct?

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

Dirt in a wheelbarrow would be considered real property.

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

A gift can be classified as either a gift in utero or a gift causa mortis.

Property is considered lost property when its owner negligently,carelessly,or inadvertently leaves it somewhere.

Garages are always liable for damage done to parked cars.

Examples of acquiring ownership in personal property include capture,accession,and confusion.

All property can be classified as either real or personal.

If lost personal property is found in the parking lot of a shopping mall,who among the following has superior rights to that property?

While strolling through the city park one day,Frieda finds Larry's watch,which has a broken strap,lying in the grass.Frieda discovers Larry's name and address engraved on the back of the watch.Which of the following is correct?