Exam 27: Personal Property and Bailments

Inadvertently, Ralph leaves his backpack at Sushi Café when he stops for lunch. The backpack is​

Neal allows Owen to store his trailer on Neal's property for $20 a month while Owen is out of town on a job for Plain States Construction, his employer. The bailor is​

Marcy owns land in North Dakota under which deposits of oil shale are discovered. Marcy sells the rights to the shale to Oil Mining Inc. Once the oil in the rock is removed, it will be considered​

Manufacturers acquire ownership of their work through production.

A gift is a voluntary transfer of property ownership for which consideration is given.

Only tangible personal property can be bailed.

Gail, an inventor, has tools in her workshop. She has a patent on her most recent invention, a convection oven. She licenses the patent to Housewares, Inc. Her tangible personal property includes​

A hotel owner is not liable for loss or damage to its guests' personal property under any circumstances.

A gift causa mortis does not become absolute until the donor dies from the contemplated illness or other peril.

Dick buys a fishing license and goes fishing. He catches a rainbow trout, cleans it, cooks it, and eats it. Dick's acquisition of the trout is by​

One morning, Richard agrees to lend his bike to Sheila, who promises to return it in the evening. This is​

Perry gives Rachel a phone as a gift. Rachel develops a new app for the phone, obtains intellectual property protection, and forms QuikApps, LLC, to sell it. Rachel's acquisition of the app is by​

Many states require a finder of lost property to make a reasonably diligent search to locate the true owner.

Ruby stores her furniture with Stow-Away, Inc., under a contract that excuses the warehouser from liability for any damage. A fire due to Stow-Away's negligence destroys the furniture. The loss is most likely to be imposed on​

Ester sells stock in Fast Food Inc. to Gayle. Ester does not hand the stock certificates to Gayle, but gives her the key to a safety-deposit box in Heartland Bank in which the certificates are locked. This is​

Real property can not be turned into personal property by any method.

The delivery of goods to a common carrier creates a bailment relationship between the shipper and the carrier.

Belle finds a tablet on the counter at Café Latte. She takes it to a police station where she is told that if it is not claimed by a certain time, she can obtain title to it. This is acquiring possession by​

Brian discovers a boat adrift, and retrieves and anchors it. The boat features a number on its side and other evidence pointing to its owner, Celia. This is

Accession occurs when someone adds value to an item of personal property by the use of labor or materials.