Exam 47: Personal Property, Real Property, and Insurance

In a mutual benefit bailment, the bailee owes a duty of reasonable care to protect the bailed goods.

Which of the following is true of ownership titles when confusion occurs?

Which of the following is an example of intangible property?

The owner of the premises where a property is mislaid is entitled to take possession of the property against all except the rightful owner.

Ordinary bailments involve warehouse companies, common carriers, and innkeepers.

Under the Statute of Frauds, a bailment agreement must be in writing if it is for more than one year.

If the finder of a lost property posts notices and publishes advertisements describing the lost property, he or she will be able to clear title to the property after certain requirements are met.

Personal property that is permanently affixed to land or buildings is referred to as chattel.

For a gift to be considered valid, the donor must be shown to have a donative intent.

Physical deliveries are made in most bailments.

Explain the title to goods when fungible goods are commingled.

Common carriers are held to a duty of strict liability.

The value of John's car is said to have undergone a(n) ________.

Which of the following is true with regard to the new engine, upholstery, and stereo player the thief installed in John's car?

Confusion occurs if two or more persons commingle fungible goods.

________ represent rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, and copyrights.

A bailment at will can be terminated at any time by either party.

The finder of an abandoned property holds title against the whole world except the owner.

A(n) ________ statute permits a finder of mislaid or lost property to clear title to the property if certain prescribed legal formalities are met.

A finder of a mislaid property can claim title to the property if it is found within the finder's premises.