Exam 23: Personal Property and Bailments

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Kato checked out a book (Freeloading for Fun and Profit)from the library.While he was reading it,he discovered three $50 bills in the book.Is the money lost,mislaid,or abandoned property? Why is this determination significant?

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Question 1

Correct Answer:

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The money would probably be classified as mislaid property,because it appears likely that the true owner intentionally placed it there and then forgot about it.The significance of the determination is that the rights of the finder differ according to how the property is classified.If the money were classified as lost,Kato would have a better right to it than anyone except the true owner.If it were classified as mislaid,Kato would have to turn the money over to the library to hold for the true owner.If it were classified as abandoned property,Kato would obtain ownership of it merely by possessing it.

When property ownership is discussed in the United States,which one of the following is true?

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Question 2

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A hotelkeeper is liable for loss or damage to property if it can be proved that it was caused by:

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Question 3

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Which of the following is the most common method of obtaining ownership of property?

(Multiple Choice)

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Question 4

When personal property is used in conjunction with real property in such a way as to be treated as part of the real property,it is known as a ________.

(Multiple Choice)

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Question 5

Which of the following characterizes common carriers?

(Multiple Choice)

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Question 6

An involuntary bailee has the right to use or destroy the property.

(True/False)

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Question 7

In order to create a bailment,the bailor and bailee need not agree in writing to the existence of the bailment.

(True/False)

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Question 8

Property owned by an individual,a group of individuals,or a corporation is:

(Multiple Choice)

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Question 9

In which of the following circumstances would a common carrier be liable for damaged goods?

(Multiple Choice)

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Question 10

You need to drive to Spokane to pick up your parents.Your car is being repaired and is therefore unavailable.You ask your good friend Ed if he will lend you his car.You take Ed's car and drive to Spokane.This is:

(Multiple Choice)

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Question 11

What is the best possible solution for a bailee if there is a third-party,who claims to have superior rights to those of the bailor for possession of the bailed property?

(Multiple Choice)

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Question 12

Which of the following is the most essential requirement while making a valid gift?

(Multiple Choice)

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Question 13

In the case in the text,Grande v.Jennings,the court held that the found money belonged to the previous owner's estate because it classified the money as:

(Multiple Choice)

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Question 14

Which of the following is true of conditional gifts?

(Multiple Choice)

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Question 15

An artisan lien entitles the improver of property:

(Multiple Choice)

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Question 16

Property that has no physical existence is called:

(Multiple Choice)

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Question 17

In which of the following circumstances would the bailee be expected to exercise ordinary care?

(Multiple Choice)

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Question 18

Property can be transferred by a will,if it is validly executed.

(True/False)

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Question 19

Boris borrowed Martha's lawnmower to cut his grass.Boris will be liable for damage to the lawnmower if he:

(Multiple Choice)

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Question 20

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Exam 23: Personal Property and Bailments

Kato checked out a book (Freeloading for Fun and Profit)from the library.While he was reading it,he discovered three $50 bills in the book.Is the money lost,mislaid,or abandoned property? Why is this determination significant?

When property ownership is discussed in the United States,which one of the following is true?

A hotelkeeper is liable for loss or damage to property if it can be proved that it was caused by:

Which of the following is the most common method of obtaining ownership of property?

When personal property is used in conjunction with real property in such a way as to be treated as part of the real property,it is known as a ________.

Which of the following characterizes common carriers?

An involuntary bailee has the right to use or destroy the property.

In order to create a bailment,the bailor and bailee need not agree in writing to the existence of the bailment.

Property owned by an individual,a group of individuals,or a corporation is:

In which of the following circumstances would a common carrier be liable for damaged goods?

You need to drive to Spokane to pick up your parents.Your car is being repaired and is therefore unavailable.You ask your good friend Ed if he will lend you his car.You take Ed's car and drive to Spokane.This is:

What is the best possible solution for a bailee if there is a third-party,who claims to have superior rights to those of the bailor for possession of the bailed property?

Which of the following is the most essential requirement while making a valid gift?

In the case in the text,Grande v.Jennings,the court held that the found money belonged to the previous owner's estate because it classified the money as:

Which of the following is true of conditional gifts?

An artisan lien entitles the improver of property:

Property that has no physical existence is called:

In which of the following circumstances would the bailee be expected to exercise ordinary care?

Property can be transferred by a will,if it is validly executed.

Boris borrowed Martha's lawnmower to cut his grass.Boris will be liable for damage to the lawnmower if he:

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