Exam 33: Personal Property and Bailments

A statute that allows finders of property to clear their title to the property after taking steps to see whether the true owner can be located is known as a(n) _____.

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(Multiple Choice)

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Question 1

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Explain the difference between abandoned, lost, and mislaid property.

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Question 2

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Property is considered to be abandoned if the owner intentionally placed the property out of his possession with the intent to relinquish ownership of it. The finder of abandoned property who takes possession of it with the intention of claiming ownership becomes the owner of the property. This means he acquires better rights to the property than anyone else in the world, including the original owner.
Property is consider to be lost if the owner did not intend to part with possession of the property. The person who finds lost property does not acquire ownership of it, but he acquires better rights to the lost property than anyone other than the true owner.
Property is considered mislaid if the owner placed the property somewhere and accidentally left it there, not intending to relinquish ownership of the property. The consequences of property's being classified as mislaid are that the finder acquires no rights to the property. Rather, the person in possession of the property on which the personal property was mislaid has the right to hold the property for the true owner.

Tiana wanted to vacation in Los Carneros and asked Cameron, her neighbor, to look after Amber, her Labrador Retriever. Cameron did not ask for a payment to take care of Amber. Before leaving, Tiana instructed Cameron on how to care for Amber, but Cameron failed to follow these instructions or take care to restrain Amber. While Tiana was in Los Carneros, Amber ran onto the street and got hit by a car. Which of the following statements is true of this situation?

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Question 3

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Today, one can acquire ownership of personal property by possessing it if the property is unowned.

(True/False)

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Question 4

The type of bailment created can be important in determining the liability of the bailee for loss of or damage to the property.

(True/False)

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Question 5

While staying at Smith Hotel Corp., Nina asked her son to take her two diamond rings to the hotel clerk for safekeeping. The rings were shown to the clerk and then placed in a "safe-deposit envelope" which was sealed. The son received a depositor's check stub, which had a number corresponding to the number on the envelope. The envelope was kept in a safe, located in the hotel's front desk, which was used to keep the hotel's cash as well as the valuables of guests. Though equipped with a combination lock, the safe was usually kept unlocked as there would always be a clerk on duty at the reception desk. The following night, the hotel was robbed by two armed men and Nina's rings were taken. She sued the hotel for the value of the rings. The hotel claimed that the robbery was an "act of a public enemy" that relieved the hotel of liability. If the safe-deposit envelope is analyzed in the way that safety deposit boxes are, was the hotelkeeper liable for the theft of property left with it for safekeeping?

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Question 6

There are two kinds of gifts: gifts per se and gifts de jure.

(True/False)

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Question 7

What are the differences between a gift inter vivos and a gift causa mortis?

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Question 8

Which of the following statements about tangible property is true?

(Multiple Choice)

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Question 9

A promise to make a gift is usually enforceable.

(True/False)

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Question 10

When personal property is attached to, or used in connection with, real property in such a way as to be treated as part of the real property, it is known as a debenture.

(True/False)

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Question 11

If you park your car in a parking lot, keep the keys, and can drive the car out yourself whenever you wish, a bailment has not been created.

(True/False)

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Question 12

If property is mislaid by its owner, _____.

(Multiple Choice)

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Question 13

Phoebe rented a safe deposit box in a bank to keep her valuables. In this case, _____.

(Multiple Choice)

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Question 14

George rented a car from RentaCar Corp. When he returned the car to RentaCar Corp., he forgot to retrieve his wallet from the glove compartment. In this scenario, George's wallet is _____.

(Multiple Choice)

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Question 15

Felipe purchases a plot of land that is owned by Ron. After he purchases the property, Felipe discovers that the land contains valuable mineral deposits and quarries them. Ron, who did not know that the land contained valuable minerals at the time of sale, sues Felipe to recover the value of the mineral deposits. Under these circumstances, _____.

(Multiple Choice)

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Question 16

Which of the following statements is true about accession?

(Multiple Choice)

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Question 17

The two major examples of unowned property that can be acquired by possession are wildlife and mislaid property.

(True/False)

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Question 18

What are the basic duties of a bailee? Explain the critical elements that determine the degree of care that a bailee is required to exercise.

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Question 19

An example of intangible property is a _____.

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Question 20

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Exam 33: Personal Property and Bailments

A statute that allows finders of property to clear their title to the property after taking steps to see whether the true owner can be located is known as a(n) _____.

Explain the difference between abandoned, lost, and mislaid property.

Today, one can acquire ownership of personal property by possessing it if the property is unowned.

The type of bailment created can be important in determining the liability of the bailee for loss of or damage to the property.

There are two kinds of gifts: gifts per se and gifts de jure.

What are the differences between a gift inter vivos and a gift causa mortis?

Which of the following statements about tangible property is true?

A promise to make a gift is usually enforceable.

When personal property is attached to, or used in connection with, real property in such a way as to be treated as part of the real property, it is known as a debenture.

If you park your car in a parking lot, keep the keys, and can drive the car out yourself whenever you wish, a bailment has not been created.

If property is mislaid by its owner, _____.

Phoebe rented a safe deposit box in a bank to keep her valuables. In this case, _____.

George rented a car from RentaCar Corp. When he returned the car to RentaCar Corp., he forgot to retrieve his wallet from the glove compartment. In this scenario, George's wallet is _____.

Which of the following statements is true about accession?

The two major examples of unowned property that can be acquired by possession are wildlife and mislaid property.

What are the basic duties of a bailee? Explain the critical elements that determine the degree of care that a bailee is required to exercise.

An example of intangible property is a _____.

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