Exam 21: Personal Property and Bailments

Unclaimed property is often transferred to the government under the concept of escheat.

Tom established a bank account for his daughter Mary under the Uniform Gifts to Minors Act.Tom named himself the custodian.Later,Tom had a serious disagreement with Mary and ordered the bank to transfer the money in that account to a similar account maintained in the same bank for Tom's son Ed.The bank must:

The person who turns over the possession of bailed property is the bailor,and the person who accepts possession is the bailee.

If a maintenance employee at a hotel finds a pocketbook with $500 in cash while cleaning an empty guest room,the employee:

Generally,a bailment agreement does not contain all the elements of a contract.

Title to abandoned property may be acquired by the first person who obtains possession and control of it.

Humberto called his friend John and asked him to come over immediately because Humberto had suffered a stroke and might be dying.In their telephone conversation,Humberto advised John that he wanted to give John his gold watch.Immediately after their telephone conversation,Humberto wrote out a will that left his share in Blackacre to John.Blackacre was the marital home of Humberto and Connie,who owned the home as tenants by the entirety.Humberto died before John arrived at Blackacre.John claims the watch and a share in the home.Connie contests both matters.Decide.

A gift causa mortis is revoked if:

The bailor must both inform the bailee of known defects and make a reasonable investigation to discover defects in a:

Barry and Eldridge owned Blueacre as tenants in common.Eldridge died.Blueacre is owned:

With regard to a bailment,a valid delivery and acceptance need not require that the bailee be aware that goods have been placed within the bailee's exclusive possession or control.

At common law,a tenancy by entirety or a tenancy by the entireties is created when property is transferred to both husband and wife.

The legal relation that arises when one person delivers possession of personal property to another under an express or implied agreement to return the property at a later date is called a: