Exam 37: Personal Property, Bailment, and Insurance

In automobile insurance,"comprehensive coverage" refers to a policy that covers all types of losses related to the ownership and operation of an automobile.

A gift is voluntary transfer of property with consideration.

An insurance broker usually works exclusively for one insurance company.

The distinction between lost and mislaid property is based on how the property came to be in the place where it was found.

In a bailment,the title to the goods stays with the bailor.

In property law,"accession" occurs when the value of personal property increases because it is added to or improved by natural or manufactured means.

Jackie went to a copying center that also had computers that could be rented and used in the store on an hourly basis.Each computer was in a separate cubicle and sat on a small desk.Jackie signed up for a computer and went into her assigned cubicle.On the back left corner of the desk was a gold bracelet.On the floor under the desk was a silver ankle bracelet.On the floor by the trash container was a paperback dictionary.Discuss Jackie's claims to the bracelets and the dictionary.

"Donative intent" means that the donor must accept the goods for a gift to be valid.

There are two (2)kinds of property: ________ property and ________ property.

When you buy a tree with its roots wrapped in burlap from a nursery,at the moment of purchase,that tree is personal property.

An "estray" statute provides a method by which title may be cleared to mislaid or lost property.

What type of clause in an insurance policy states that the insurer will pay for a covered loss only to the extent that it exceeds a certain stated amount that the insured pays toward that loss?

Which of the following best describes an "umbrella" insurance policy?

Under an automobile insurance policy,what does "comprehensive" coverage protect against?

In a bailment,the bailee has the right to use the bailed property unless the terms of the bailment agreement state otherwise.

Why is there a distinction in the law between lost and mislaid property? Should someone who finds mislaid property in a restaurant be able to recover it from the store if the true owner does not appear within a certain period of time to claim the property?

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

If an owner discards property intending to relinquish his or her rights to it,the property is considered to be abandoned.

Physical delivery must be accomplished in order to create a bailment.

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