Exam 27: Personal Property and Bailments

In a bailment,possession of the property is transferred to the bailee.

In a tenancy in common,the interests are divided.

Rhett works at Scarlett's Sandwich Café.After work,in the parking lot,Rhett finds a diamond ring lost by Thalia.Title to the ring is possessed by

There are three categories of property.

Procter,who is not in contemplation of imminent death,tells his daughter Opal that she can have his Dodge truck on his death,whenever that happens.This is

In contemplation of death during risky sur-gery,Donnelly,a guitarist,gives his guitars to Cathy.The surgery is successful,and Donnelly does not die.The gift of the guitars is

During a storm on Blue Lake,a boat sinks,but its owner Cappy survives.Cappy plans to return to the site of wreck to salvage its equipment and his possessions,but he delays.Meanwhile,Dick,an amateur diver,discovers the wreck and strips it clean of useful items.Cappy learns of the recovery and files a suit against Dick,claiming that the items are his.Dick responds that the sunken boat was abandoned and therefore he has good title to everything to which he took possession.What is the court likely to rule,and why?

Property used by a government for a public purpose such as a park is community property

Helen owns heavy construction equipment and the tools to service it,as well as office furniture,including computers.Ilya owns a number of pat-ents,trademarks that identify the products made under those patents,and stock in the company that sells those products.Personal property in-cludes the items owned by

Mallory's sister gives Mallory a leather working kit for Christmas.Mallory uses the kit to make a saddle.Mallory's acquisition of the saddle is by

Gilbert finds an iPad on the counter at Starbucks.He takes the iPad to the police station's lost and found desk.The officer at the desk tells Gilbert that if the iPad is not claimed in a certain amount of time,Gilbert can obtain title to it.This is an example of acquiring possession by

Constructive delivery occurs when property is physically transferred.

For an effective bailment,the bailor must deliver possession of the bailed property with its title

Airline passengers are subjects of a bailment.

Property voluntarily placed by its owner and inadver-tently forgotten is mislaid property.

Lauren owns a 1967 Ford Mustang,which Mike customizes and details to Lauren's specifications.The car earns several awards at regional ve-hicle customizing competition shows.The result of Mike's efforts is

T.J.owns a red sports car.T.J.can use the car as he wishes and he can also dispose of it if he wishes.When T.J.dies,the car will descend to his son.With respect to the car,T.J.is

Killing a wild animal amounts to assuming ownership of it.

One cannot acquire ownership by possession by "capturing" a wild animal.

Property voluntarily discarded by its owner with no inten-tion of reclaiming it is abandoned property.