Question 1

Which of the following is true of ownership titles when confusion occurs?

Accepted Answer

A) Title to the goods can never be shared between the owners involved. 
B) Title to goods commingled without permission goes to the innocent party. 
C) Title to goods cannot be acquired by confusion. 
D) Title to the goods can only be acquired if goods were commingled by accident. 
A) Title to the goods can never be shared between the owners involved. 
B) Title to goods commingled without permission goes to the innocent party. 
C) Title to goods cannot be acquired by confusion. 
D) Title to the goods can only be acquired if goods were commingled by accident. B

Question 2

Which of the following is true with regard to the new engine,upholstery,and stereo player the thief installed in John's car?

Accepted Answer

A) These improvements have to be returned to the thief. 
B) These improvements now rightfully belong to John. 
C) The improvements have to be paid for by John if he wants to retain them. 
D) The improvements will be confiscated by the police. 
A) These improvements have to be returned to the thief. 
B) These improvements now rightfully belong to John. 
C) The improvements have to be paid for by John if he wants to retain them. 
D) The improvements will be confiscated by the police. B

Question 3

Physical deliveries are made in most bailments.

Accepted Answer

A) True 
 B)False  True

Question 4

Give an account of the different types of property that can be owned.

Accepted Answer

There are two kinds of property: real pr

Question 5

What does the Uniform Transfers to Minors Act establish?

Accepted Answer

A) rights for what a minor is allowed in case of inheritances without involving custodians 
B) rights for what a minor can accept from an adult 
C) procedures for adults to make irrevocable gifts of money and securities to minors 
D) procedures for minors making gifts of money and securities to minors 
A) rights for what a minor is allowed in case of inheritances without involving custodians 
B) rights for what a minor can accept from an adult 
C) procedures for adults to make irrevocable gifts of money and securities to minors 
D) procedures for minors making gifts of money and securities to minors

Question 6

Which of the following is considered a constructive delivery of a gift?

Accepted Answer

A) giving the key to a safe-deposit box where the gift is kept 
B) paying for the total value of the good being gifted in cash 
C) contracting a third party to deliver goods to the donee 
D) gifting someone in person to ensure acceptance of the gift 
A) giving the key to a safe-deposit box where the gift is kept 
B) paying for the total value of the good being gifted in cash 
C) contracting a third party to deliver goods to the donee 
D) gifting someone in person to ensure acceptance of the gift

Question 7

Under the common law,innkeepers owe a duty of ________ regarding loss caused to the personal property of transient guests.

Accepted Answer

A) negligible care 
B) slight care 
C) strict liability 
D) ordinary care 
A) negligible care 
B) slight care 
C) strict liability 
D) ordinary care

Question 8

Personal property includes land and property that is permanently attached to it.

Accepted Answer

A) True 
 B)False

Question 9

In which of the following processes is the title of goods not transferred?

Accepted Answer

A) an adverse possession 
B) a bailment 
C) a sale 
D) an acquisition 
A) an adverse possession 
B) a bailment 
C) a sale 
D) an acquisition

Question 10

The value of John's car is said to have undergone a(n)________.

Accepted Answer

A) accession 
B) arraignment 
C) bailment 
D) lien 
A) accession 
B) arraignment 
C) bailment 
D) lien

Question 11

A gift that is made in contemplation of death is known as a(n)________.

Accepted Answer

A) profit-à-prendre 
B) estate pour autre vie 
C) gift inter vicos 
D) gift causa mortis 
A) profit-à-prendre 
B) estate pour autre vie 
C) gift inter vicos 
D) gift causa mortis

Question 12

Which of the following is true of a gift causa mortis?

Accepted Answer

A) It cannot be revoked before the death of the donor. 
B) It does not require the actual death of the donor. 
C) It represents an irrevocable present transfer of ownership. 
D) It takes precedence over a prior conflicting will. 
A) It cannot be revoked before the death of the donor. 
B) It does not require the actual death of the donor. 
C) It represents an irrevocable present transfer of ownership. 
D) It takes precedence over a prior conflicting will.

Question 13

________ is a method of acquiring ownership,when a manufacturer purchases raw materials and then manufactures a finished good.

Accepted Answer

A) Gifting 
B) Producing 
C) Capturing 
D) Purchasing 
A) Gifting 
B) Producing 
C) Capturing 
D) Purchasing

Question 14

What are the elements necessary to create a bailment?

Accepted Answer

Three elements are necessary to create a

Question 15

Tangible property,such as automobiles,furniture,and equipment,and intangible property,such as securities,patents,and copyrights,are collectively referred to as ________.

Accepted Answer

A) real property 
B) immovable property 
C) personal property 
D) fixtures 
A) real property 
B) immovable property 
C) personal property 
D) fixtures

Question 16

If an accession is mistakenly made by an improver and the improvement cannot be removed from the original article,the owner owns title to the improved property without any payment.

Accepted Answer

A) True 
 B)False

Question 17

In the bailment agreement,which of the following types of duties did Randy neglect?

Accepted Answer

A) duty of great care 
B) duty of slight care 
C) duty of reasonable care 
D) duty of ordinary care 
A) duty of great care 
B) duty of slight care 
C) duty of reasonable care 
D) duty of ordinary care

Question 18

A gift is a voluntary transfer of property without payment of consideration by the donee.

Accepted Answer

A) True 
 B)False

Question 19

For a gift to be considered valid,the donor must be shown to have a donative intent.

Accepted Answer

A) True 
 B)False

Question 20

In a bailment,the title to the goods passes to the bailee.

Accepted Answer

A) True 
 B)False

Exam 47: Personal Property, real Property, and Insurance

Which of the following is true of ownership titles when confusion occurs?

Which of the following is true with regard to the new engine,upholstery,and stereo player the thief installed in John's car?

Physical deliveries are made in most bailments.

Give an account of the different types of property that can be owned.

What does the Uniform Transfers to Minors Act establish?

Which of the following is considered a constructive delivery of a gift?

Under the common law,innkeepers owe a duty of ________ regarding loss caused to the personal property of transient guests.

Personal property includes land and property that is permanently attached to it.

In which of the following processes is the title of goods not transferred?

The value of John's car is said to have undergone a(n)________.

A gift that is made in contemplation of death is known as a(n)________.

Which of the following is true of a gift causa mortis?

________ is a method of acquiring ownership,when a manufacturer purchases raw materials and then manufactures a finished good.

What are the elements necessary to create a bailment?

Tangible property,such as automobiles,furniture,and equipment,and intangible property,such as securities,patents,and copyrights,are collectively referred to as ________.

If an accession is mistakenly made by an improver and the improvement cannot be removed from the original article,the owner owns title to the improved property without any payment.

In the bailment agreement,which of the following types of duties did Randy neglect?

A gift is a voluntary transfer of property without payment of consideration by the donee.

For a gift to be considered valid,the donor must be shown to have a donative intent.

In a bailment,the title to the goods passes to the bailee.

Legal Environment of Business and Online Commerce

Courts and Jurisdiction

Judicial, alternative, and Online Dispute Resolution

Constitutional Law for Business and E-Commerce

Intentional Torts and Negligence

Product and Strict Liability

Intellectual Property and Cyber Piracy

Criminal Law and Cyber Crime

Nature of Traditional and E-Contracts

Agreement

Consideration and Promissory Estoppel

Capacity and Legality

Genuineness of Assent and Undue Influence

Statute of Frauds and Equitable Exceptions

Third-Party Rights and Discharge

Remedies for Breach of Traditional and E-Contracts

Digital Law and E-Commerce

Formation of Sales and Lease Contracts

Title to Goods and Risk of Loss

Remedies for Breach of Sales and Lease Contracts

Warranties

Creation of Negotiable Instruments

Holder in Due Course and Transferability

Liability, defenses, and Discharge

Banking System and Electronic Financial Transactions

Credit, mortgages, and Debtors Rights

Secured Transactions

Bankruptcy and Reorganization

Agency Formation and Termination

Liability of Principals, agents, and Independent Contractors

Employment, worker Protection, and Immigration Law

Labor Law

Equal Opportunity in Employment

Small Business, entrepreneurship, and General Partnerships

Limited Partnerships and Special Partnerships

Corporate Formation and Financing

Corporate Governance and the Sarbanes-Oxley Act

Corporate Acquisitions and Multinational Corporations

Limited Liability Companies and Limited Liability Partnerships

Franchises and Special Forms of Businesses

Investor Protection, e-Securities, and Wall Street Reform

Ethics and Social Responsibility of Business

Administrative Law and Regulatory Agencies

Consumer Protection and Product Safety

Environmental Protection

Antitrust Law and Unfair Trade Practices

Real Property

Landlord-Tenant Law and Land Use Regulation

Insurance

Accountants Duties and Liability

Wills, trusts, and Estates

Family Law

International and World Trade Law

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