Question 1

A bailment for a fixed term cannot be terminated before the end of the term by either party.

Accepted Answer

A) True 
 B)False

Question 2

A consignee is a person to whom a common carrier makes a delivery.

Accepted Answer

A) True 
 B)False

Question 3

The Rosberg family asked their neighbors, the Lowells, to feed their cat while they are away on a vacation. The Lowells fed the cat as they had been asked to but the cat ran away and never returned. What kind of bailment agreement existed between the Rosbergs and the Lowells?

Accepted Answer

A)  bailment for the sole benefit of the bailee 
B)  bailment for the sole benefit of the bailor 
C)  mutual benefit bailment 
D)  bailment at will 
A)  bailment for the sole benefit of the bailee 
B)  bailment for the sole benefit of the bailor 
C)  mutual benefit bailment 
D)  bailment at will

Question 4

Common carriers are not liable for the loss, damage, or destruction of goods caused by an act of God.

Accepted Answer

A) True 
 B)False

Question 5

Property that an owner has discarded with the intent to relinquish his or her rights in it is known as ________.

Accepted Answer

A)  real 
B)  lost 
C)  mislaid 
D)  abandoned 
A)  real 
B)  lost 
C)  mislaid 
D)  abandoned

Question 6

Which of the following is true of mislaid property with regard to the person who finds it?

Accepted Answer

A)  The finder becomes the owner of the property. 
B)  The finder has the right to share it with the original owner. 
C)  The finder is not entitled to possess the property. 
D)  The finder is absolved of any responsibility of the mislaid property. 
A)  The finder becomes the owner of the property. 
B)  The finder has the right to share it with the original owner. 
C)  The finder is not entitled to possess the property. 
D)  The finder is absolved of any responsibility of the mislaid property.

Question 7

Accession that naturally occurs to a property belongs to the owner.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is true of a bailment?

Accepted Answer

A)  Only personal property can be used in a bailment. 
B)  Intangible property cannot be used in a bailment. 
C)  Only physical deliveries can become a bailment. 
D)  All bailments must be expressed in writing to be effective. 
A)  Only personal property can be used in a bailment. 
B)  Intangible property cannot be used in a bailment. 
C)  Only physical deliveries can become a bailment. 
D)  All bailments must be expressed in writing to be effective.

Question 9

A warehouse company has a lien on the goods in its possession for necessary expenses incurred in storing and handling the goods.

Accepted Answer

A) True 
 B)False

Exam 47: Personal Property, Real Property, and Insurance

A bailment for a fixed term cannot be terminated before the end of the term by either party.

A consignee is a person to whom a common carrier makes a delivery.

The Rosberg family asked their neighbors, the Lowells, to feed their cat while they are away on a vacation. The Lowells fed the cat as they had been asked to but the cat ran away and never returned. What kind of bailment agreement existed between the Rosbergs and the Lowells?

Common carriers are not liable for the loss, damage, or destruction of goods caused by an act of God.

Property that an owner has discarded with the intent to relinquish his or her rights in it is known as ________.

Which of the following is true of mislaid property with regard to the person who finds it?

Accession that naturally occurs to a property belongs to the owner.

Which of the following is true of a bailment?

A warehouse company has a lien on the goods in its possession for necessary expenses incurred in storing and handling the goods.

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