Exam 47: Personal Property, Real Property, and Insurance

Personal property that is permanently affixed to land or buildings is called a(n) ________.

What is a gift inter vivos?

Which of the following methods of acquiring ownership was more important when the United States was being developed than it is today?

In the bailment agreement, which of the following types of duties did Randy neglect?

________ is a method of acquiring ownership, when a manufacturer purchases raw materials and then manufactures a finished good.

The voluntary transfer of title to property without payment of consideration by the donee is known as a(n) ________.

What is the role of an innkeeper as a bailee? How does the innkeepers' statute help an innkeeper?

Only intangible property qualifies as personal property.

Which of the following is considered real property?

The delivery of goods to a common carrier creates a bailment for the sole benefit of the bailor.

Real property can become personal property if it is ________.

A bailment for the sole benefit of the bailee is an example of ordinary bailment.

Tangible property, such as automobiles, furniture, and equipment, and intangible property, such as securities, patents, and copyrights, are collectively referred to as ________.

A(n) ________ is an increase in the value of personal property because it is added to or improved by natural or manufactured means.

A gift causa mortis is an irrevocable present transfer of ownership during the donor's lifetime.

Property that the owner leaves somewhere due to negligence, carelessness, or inadvertence is referred to as ________ property.

Title to goods cannot be acquired by confusion.

A person can acquire ownership of unowned personal property by taking possession of it.

Which of the following is considered a constructive delivery of a gift?

Only personal property can be used in a bailment.