Question 1

Delacroix discovers a boat adrift,and retrieves and anchors it.The boat features a number on its side and other evidence pointing to its owner,Elvira.This is

Accepted Answer

A)  an involuntary bailment.
B)  a voluntary bailment.
C)  an express bailment.
D)  no bailment. A

Question 2

Rocco gives Sequoia a computer as a gift.Using the computer,Sequoia develops a new computer game,for which she obtains intellectual property protection,and forms Titan Games,LLC,to make and market the game.Sequoia's ac?quisition of the game is by

Accepted Answer

A)  gift.
B)  accession.
C)  confusion.
D)  production. D

Question 3

Tangible personal property represents a set of rights and interests but has no real physical existence.

Accepted Answer

A) True 
 B)False  False

Question 4

Baksheesh owns a house.In the house,on a tile floor is a throw rug.Most likely to meet the definition of a fixture is

Accepted Answer

A)  the house.
B)  the throw rug.
C)  the tile floor.
D)  none of these choices.

Question 5

Idaho Farms mistakenly puts its potatoes in Jackson Co-op's storage bin,which already contains Kelly Spud Farm's potatoes.It is impossible to tell which potatoes originally belonged to which party.This is

Accepted Answer

A)  a bailment.
B)  accession.
C)  confusion.
D)  production.

Question 6

In most bailments,the bailee can retain the goods given by the bailor and return equivalent property.

Accepted Answer

A) True 
 B)False

Question 7

Those who find lost property cannot acquire ownership rights through mere possession of it.

Accepted Answer

A) True 
 B)False

Question 8

A finder of lost property can claim title to the property against the whole world-except the true owner.

Accepted Answer

A) True 
 B)False

Question 9

Chita owns the land on which Downwind Farm is situated,plus the farmhouse,barn,and other structures permanently attached to the land.Chita's brother Elmo owns everything else on the farm-implements,seed,and so on.The real property is owned by

Accepted Answer

A)  Chita and Elmo.
B)  Chita only.
C)  Downwind Farm.
D)  Elmo only.

Question 10

Tab stores video equipment with U-Store-It,Inc.,under a contract that excuses the warehouser from liability for any damage.A fire due to U-Store-It's negligence destroys the equipment.The loss is most likely to be imposed on

Accepted Answer

A)  neither Tab nor U-Store-It.
B)  Tab and U-Store-It.
C)  Tab only.
D)  U-Store-It only.

Question 11

Property that is leased from a bailor must be fit for the intended purpose of the bailment.

Accepted Answer

A) True 
 B)False

Question 12

Mona asks Ned if she can store her furniture in his garage while she serves a tour of duty with the U.S.Marines Corps.Ned agrees.This is a bail?ment for

Accepted Answer

A)  neither party's benefit.
B)  the parties' mutual benefit.
C)  the sole benefit of the bailee.
D)  the sole benefit of the bailor.

Question 13

Floyd tells his daughter Glenda that she can have his Harley Davidson when he dies,but he does not add this to his will.This is

Accepted Answer

A)  a valid gift causa mortis.
B)  a valid gift inter vivos.
C)  a valid gift testamentary.
D)  not a valid gift.

Question 14

A gift is a voluntary transfer of property for which no consideration is given.

Accepted Answer

A) True 
 B)False

Question 15

Ansel owns Bar-B Ranch.Ansel's only son Cy owns Double-D Ranch in the same county.Ansel gives 90 percent of the Bar-B to Etta,a short-term employee.This gift

Accepted Answer

A)  may lack the required element of "donative intent."
B)  may lack the required element of "donor's acknowledgement."
C)  may lack the required element of "heir's acquiescence."
D)  meets all of the requirements for an effective gift.

Question 16

Emily checks her luggage at Flyaway Airlines's ticket counter before boarding her flight to Houston.Subject to a bailment is

Accepted Answer

A)  Emily.
B)  Emily's luggage.
C)  Emily's ticketed seat on the flight.
D)  none of the choices.

Question 17

A bailment agreement can be express or implied.

Accepted Answer

A) True 
 B)False

Question 18

A gift causa mortis does not become absolute if the donor does not die.

Accepted Answer

A) True 
 B)False

Question 19

Jennifer finds a full duffel bag that she believes may be subject to an es?tray statute.Estray statutes apply to

Accepted Answer

A)  abandoned property.
B)  bailed property.
C)  lost property.
D)  mislaid property.

Question 20

Frenchy's Fast Fries (3F)requires that its employees wear uniforms and protective clothing while on the job.3F provides a locker room for the employees to leave their street clothes and personal items while working.A sign on the back of the locker room door states,"Frenchy's is not re?sponsible for the loss of any property in the locker room." Grant,a 3F employee,changes his clothes in the locker room before starting work and leaves his wallet and watch in a pocket of his jacket hanging in his locker.When he returns after his shift,the wallet and watch are gone.Does Grant's leaving personal items in the locker room constitute a bailment? If so,what type of bailment? If not,what legal relationship is it? Does 3F's sign exculpate the com?pany for Grant's loss? Why or why not?

Accepted Answer

The answer of Frenchy's Fast Fries (3F)requires that its employees...

Exam 49: Personal Property and Bailments

Delacroix discovers a boat adrift,and retrieves and anchors it.The boat features a number on its side and other evidence pointing to its owner,Elvira.This is

Rocco gives Sequoia a computer as a gift.Using the computer,Sequoia develops a new computer game,for which she obtains intellectual property protection,and forms Titan Games,LLC,to make and market the game.Sequoia's ac?quisition of the game is by

Tangible personal property represents a set of rights and interests but has no real physical existence.

Baksheesh owns a house.In the house,on a tile floor is a throw rug.Most likely to meet the definition of a fixture is

Idaho Farms mistakenly puts its potatoes in Jackson Co-op's storage bin,which already contains Kelly Spud Farm's potatoes.It is impossible to tell which potatoes originally belonged to which party.This is

In most bailments,the bailee can retain the goods given by the bailor and return equivalent property.

Those who find lost property cannot acquire ownership rights through mere possession of it.

A finder of lost property can claim title to the property against the whole world-except the true owner.

Chita owns the land on which Downwind Farm is situated,plus the farmhouse,barn,and other structures permanently attached to the land.Chita's brother Elmo owns everything else on the farm-implements,seed,and so on.The real property is owned by

Tab stores video equipment with U-Store-It,Inc.,under a contract that excuses the warehouser from liability for any damage.A fire due to U-Store-It's negligence destroys the equipment.The loss is most likely to be imposed on

Property that is leased from a bailor must be fit for the intended purpose of the bailment.

Mona asks Ned if she can store her furniture in his garage while she serves a tour of duty with the U.S.Marines Corps.Ned agrees.This is a bail?ment for

Floyd tells his daughter Glenda that she can have his Harley Davidson when he dies,but he does not add this to his will.This is

A gift is a voluntary transfer of property for which no consideration is given.

Ansel owns Bar-B Ranch.Ansel's only son Cy owns Double-D Ranch in the same county.Ansel gives 90 percent of the Bar-B to Etta,a short-term employee.This gift

Emily checks her luggage at Flyaway Airlines's ticket counter before boarding her flight to Houston.Subject to a bailment is

A bailment agreement can be express or implied.

A gift causa mortis does not become absolute if the donor does not die.

Jennifer finds a full duffel bag that she believes may be subject to an es?tray statute.Estray statutes apply to