Question 1

A gift inter vivos is a gift:

Accepted Answer

A) made in contemplation of death. 
B) between two living persons. 
C) between a deceased person and a living one. 
D) made in consideration for money. 
A) made in contemplation of death. 
B) between two living persons. 
C) between a deceased person and a living one. 
D) made in consideration for money.

Question 2

What level of care must a bailee exercise in a bailment for his own exclusive benefit?

Accepted Answer

A) Greater than ordinary care 
B) Less than ordinary care 
C) Ordinary care 
D) The same level of care that a prudent person exercises over his/her own property 
A) Greater than ordinary care 
B) Less than ordinary care 
C) Ordinary care 
D) The same level of care that a prudent person exercises over his/her own property

Question 3

Bob parked his new Porsche with the restaurant valet.The valet gave Bob a claim receipt.A bailment has been created.

Accepted Answer

A) True 
 B)False

Question 4

Marjorie leaves her bag in the checkroom of a hotel that has an attendant.When she returns a few hours later,she finds her bag missing,the attendant on another duty,and a new sign outside the checkroom stating "Goods left at owner's risk." Which of the following is true if Marjorie tries to recover damages from the hotel?

Accepted Answer

A) She will be unsuccessful because there was no bailment. 
B) She will be unsuccessful because the sign clearly says that goods are not the hotel's responsibility. 
C) She will be successful because the attendant did not inform her of the policy earlier. 
D) She will be successful because guests can claim any damages from the hotel they are staying in. 
A) She will be unsuccessful because there was no bailment. 
B) She will be unsuccessful because the sign clearly says that goods are not the hotel's responsibility. 
C) She will be successful because the attendant did not inform her of the policy earlier. 
D) She will be successful because guests can claim any damages from the hotel they are staying in.

Question 5

If property is controlled by the government,like a park,then it is private property.

Accepted Answer

A) True 
 B)False

Question 6

Property owned by the government is:

Accepted Answer

A) private property. 
B) public property. 
C) real property. 
D) classified property. 
A) private property. 
B) public property. 
C) real property. 
D) classified property.

Question 7

Which of the following is not an example of intangible property?

Accepted Answer

A) Patent 
B) Trademark 
C) Copyright 
D) USB flash drive 
A) Patent 
B) Trademark 
C) Copyright 
D) USB flash drive

Question 8

Jacobs put an old typewriter in the trash.The trash collector,Land,took the typewriter,fixed it up,and sold it to Jones for $750.Jacobs contends that he is entitled to some or all of the $750 that Land received from Jones.Based on these facts:

Accepted Answer

A) Land is entitled to the value of the improvements he made,but Jacobs is entitled to the difference between the $750 Land received and the value of the improvements Land made. 
B) Land is entitled to keep the full $750 because Jacobs abandoned the typewriter. 
C) Jacobs is entitled to the $750 because Land paid Jacobs no consideration for the typewriter. 
D) Jacobs is entitled to recover the typewriter from Jones. 
A) Land is entitled to the value of the improvements he made,but Jacobs is entitled to the difference between the $750 Land received and the value of the improvements Land made. 
B) Land is entitled to keep the full $750 because Jacobs abandoned the typewriter. 
C) Jacobs is entitled to the $750 because Land paid Jacobs no consideration for the typewriter. 
D) Jacobs is entitled to recover the typewriter from Jones.

Question 9

What is the term for a voluntary transfer of property to a donee from the donor?

Accepted Answer

A) Conveyance 
B) Trust 
C) Gift 
D) Title 
A) Conveyance 
B) Trust 
C) Gift 
D) Title

Question 10

Three friends (Mr.Blue,Mr.Green & Mr.Yellow)go on a hunt for a brown bear.Mr.Blue organized the hunt.All three hunters saw a brown bear.Mr.Blue fired his gun toward the bear but missed.Mr.Yellow fired his gun and was first to hit the bear,but only wounded the bear.Mr.Green fired his gun and killed the bear.Who owns the dead bear?

Accepted Answer

A) Mr.Blue 
B) Mr.Green 
C) Mr.Yellow 
D) All three hunters 
A) Mr.Blue 
B) Mr.Green 
C) Mr.Yellow 
D) All three hunters

Question 11

In Gyamfoah v.EG&G Dynatrend,the case in the text,the court found that:

Accepted Answer

A) EG&G proved that the watches were never delivered to the warehouse. 
B) EG&G met its burden of proving that the loss was not a result of its own negligence. 
C) Gyamfoah failed to rebut the presumption of negligence. 
D) Gyamfoah proved by a preponderance of the evidence that EG&G was liable for the loss. 
A) EG&G proved that the watches were never delivered to the warehouse. 
B) EG&G met its burden of proving that the loss was not a result of its own negligence. 
C) Gyamfoah failed to rebut the presumption of negligence. 
D) Gyamfoah proved by a preponderance of the evidence that EG&G was liable for the loss.

Question 12

Nina lent her car,which she knew had bad brakes,to Heidi.However,she did not inform Heidi about the defect.As Heidi was driving down the highway,she was in an accident due to the faulty brakes.In this case:

Accepted Answer

A) Nina is not liable to Heidi because she was never asked about the brakes. 
B) Nina is liable to Heidi because she did not inform her of the defect. 
C) Heidi is liable to Nina because she had damaged Nina's car. 
D) Heidi is liable to Nina because she gave no consideration in return for the car. 
A) Nina is not liable to Heidi because she was never asked about the brakes. 
B) Nina is liable to Heidi because she did not inform her of the defect. 
C) Heidi is liable to Nina because she had damaged Nina's car. 
D) Heidi is liable to Nina because she gave no consideration in return for the car.

Question 13

Wilma,who thought she had a terminal disease,signed over the title to her new Cadillac to her cousin,Kenny,and told him that she wanted him to have the car "after I'm gone." Kenny took the keys and began to use the car.A week later,Wilma was told that her diagnosis had been an error and that she was not terminally ill.Wilma wants her car back.Can she recover it from Kenny? Why or why not?

Accepted Answer

Wilma should be able to recover the car

Question 14

________ is the states' power to regulate to promote the public health,safety,morals,and welfare.

Accepted Answer

A) Police power 
B) Preemption 
C) Nullification 
D) Substantive regulation authority 
A) Police power 
B) Preemption 
C) Nullification 
D) Substantive regulation authority

Question 15

A person becomes the owner of abandoned property by possessing the property.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is an example of a gift inter vivos?

Accepted Answer

A) Tom is promised a watch by his uncle in case he dies during an operation. 
B) Eva receives a car as a birthday gift from her father. 
C) Casey inherits a mansion according to his late grandfather's will. 
D) A charity home receives a grant from its dead benefactor's trust. 
A) Tom is promised a watch by his uncle in case he dies during an operation. 
B) Eva receives a car as a birthday gift from her father. 
C) Casey inherits a mansion according to his late grandfather's will. 
D) A charity home receives a grant from its dead benefactor's trust.

Question 17

Debbie gives Barry a Cartier watch as a gift for their engagement.A week later,Debbie suddenly leaves the country,leaving Barry a note that she cannot marry him.Assume that Debbie had no good reason to break off the engagement.Under the traditional rule:

Accepted Answer

A) Debbie will be able to recover the watch because she does not intend Barry to keep the gift. 
B) Debbie will be able to recover the watch because the gift was made on the implied condition of marriage. 
C) Debbie cannot recover the watch,because she is in a foreign country. 
D) Debbie cannot recover the watch because it is a valid gift delivered to Barry. 
A) Debbie will be able to recover the watch because she does not intend Barry to keep the gift. 
B) Debbie will be able to recover the watch because the gift was made on the implied condition of marriage. 
C) Debbie cannot recover the watch,because she is in a foreign country. 
D) Debbie cannot recover the watch because it is a valid gift delivered to Barry.

Question 18

Karen parked her car in a parking lot.She paid the $2 fee and left for several hours.She kept her keys and had access to her car during that time.When Karen returned,she saw that her car had been damaged.Has a bailment been created here?

Accepted Answer

A) This is a bailment,because Karen paid a fee to park in the lot. 
B) This is a bailment,because the car is personal property. 
C) This is not a bailment,because there was no transfer of exclusive possession to a bailee. 
D) This is not a bailment,because there is no contract here. 
A) This is a bailment,because Karen paid a fee to park in the lot. 
B) This is a bailment,because the car is personal property. 
C) This is not a bailment,because there was no transfer of exclusive possession to a bailee. 
D) This is not a bailment,because there is no contract here.

Question 19

The finder of lost property has better rights to the property than anyone,including the original owner.

Accepted Answer

A) True 
 B)False

Question 20

In which of the following cases does a finder have no rights to the property?

Accepted Answer

A) Abandoned property 
B) Lost property 
C) Mislaid property 
D) Inherited property 
A) Abandoned property 
B) Lost property 
C) Mislaid property 
D) Inherited property

Exam 23: Personal Property and Bailments

A gift inter vivos is a gift:

What level of care must a bailee exercise in a bailment for his own exclusive benefit?

Bob parked his new Porsche with the restaurant valet.The valet gave Bob a claim receipt.A bailment has been created.

If property is controlled by the government,like a park,then it is private property.

Property owned by the government is:

Which of the following is not an example of intangible property?

Jacobs put an old typewriter in the trash.The trash collector,Land,took the typewriter,fixed it up,and sold it to Jones for $750.Jacobs contends that he is entitled to some or all of the $750 that Land received from Jones.Based on these facts:

What is the term for a voluntary transfer of property to a donee from the donor?

In Gyamfoah v.EG&G Dynatrend,the case in the text,the court found that:

Nina lent her car,which she knew had bad brakes,to Heidi.However,she did not inform Heidi about the defect.As Heidi was driving down the highway,she was in an accident due to the faulty brakes.In this case:

________ is the states' power to regulate to promote the public health,safety,morals,and welfare.

A person becomes the owner of abandoned property by possessing the property.

Which of the following is an example of a gift inter vivos?

Debbie gives Barry a Cartier watch as a gift for their engagement.A week later,Debbie suddenly leaves the country,leaving Barry a note that she cannot marry him.Assume that Debbie had no good reason to break off the engagement.Under the traditional rule:

Karen parked her car in a parking lot.She paid the $2 fee and left for several hours.She kept her keys and had access to her car during that time.When Karen returned,she saw that her car had been damaged.Has a bailment been created here?

The finder of lost property has better rights to the property than anyone,including the original owner.

In which of the following cases does a finder have no rights to the property?

The Nature of Law

The Resolution of Private Disputes

Business and the Constitution

Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking

Criminal Law and Procedure

Intentional Torts

Negligence and Strict Liability

Intellectual Property and Unfair Competition

Introduction to Contracts

The Agreement: Offer

The Agreement: Acceptance

Consideration

Reality of Consent

Capacity to Contract

Illegality

Writing

Rights of Third Parties

Performance and Remedies

Formation and Terms of Sales Contracts

Product Liability

Performance of Sales Contracts

Remedies for Breach of Sales Contracts

Real Property

Landlord and Tenant

Estates and Trusts

Insurance Law

Introduction to Credit and Secured Transactions

Security Interests in Personal Property

Bankruptcy

Negotiable Instruments

Negotiation and Holder in Due Course

Liability of Parties

Checks and Electronic Transfers

The Agency Relationship

Third-Party Relations of the Principal and the Agent

Introduction to Forms of Business and Formation of Partnerships

Operation of Partnerships and Related Forms

Partners Dissociation and Partnerships Dissolution and Winding up

Limited Liability Companies, limited Partnerships, and Limited Liability Limited Partnerships

History and Nature of Corporations

Organization and Financial Structure of Corporations

Management of Corporations

Shareholders Rights and Liabilities

Securities Regulation

Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals

Administrative Law

The Federal Trade Commission Act and Consumer Protection Laws

Antitrust: the Sherman Act

The Clayton Act, the Robinsonpatman Act, and Antitrust Exemptions and Immunities

Employment Law

Environmental Regulation

Filters