Question 1

Which of the following is true regarding Tina's statement that she was entitled to the ring because she would not have given it to Becca if she had known the true value?

Accepted Answer

A)   Tina is entitled to ownership of the ring if she can prove that she did not realize its true value.
B)   Tina is entitled to ownership of the ring only if she can prove that she did not realize its true value, and also that there was a difference of at least $1,000 between what she believed the value to be and its true value.
C)   Tina is entitled to ownership of the ring only if a jury determines that she was not negligent in failing to recognize its value.
D)   Tina is not entitled to ownership of the ring because she admitted that there was at least some chance (one in a billion)  that it was a genuine diamond.
E)   Being ignorant of the value of the ring does not entitle Tina to ownership of it.F) B) and D)
G) B) and E)

Question 2

Which of the following is not a right of a bailee?

Accepted Answer

A)   The right to possess the bailed property during the term of the bailment.
B)   The right to use the property in a manner consistent with the terms and purpose of the bailment.
C)   The right to alter the property in order to accomplish the reason for which the bailment was entered into.
D)   The right to retain the bailed property until payment is received.
E)   The right to receive compensation for the bailment unless the bailment is gratuitous.F) D) and E)
G) A) and D)

Question 3

Which of the following is true if a bailment is for the mutual benefit of both the bailee and the bailor?

Accepted Answer

A)   The bailee is liable for harm to the bailed property arising out of the bailee's ordinary or gross negligence.
B)   The bailee is liable for harm to the bailed property arising only out of the bailee's gross negligence.
C)   The bailee is liable for harm to the bailed property caused by even the slightest lack of due care on the part of the bailee.
D)   The bailee is strictly liable for harm to the bailed property.
E)   The bailee is not liable for harm to the bailed property because of the doctrine of assumption of the risk.F) A) and B)
G) A) and E)

Question 4

Which of the following is a term for gifts made in contemplation of death?

Accepted Answer

A)   Inter vivos gifts
B)   Sustainable gifts
C)   In rem gifts
D)   Probable gifts
E)   Causa mortis giftsF) B) and D)
G) A) and B)

Question 5

Which of the following is true regarding the person to benefit from a bailment?

Accepted Answer

A)   A bailment may benefit a bailor.
B)   A bailment may benefit a bailee.
C)   A bailment may benefit either a bailor or a bailee, or both.
D)   A bailment may benefit a bailee only if an employer-employee relationship is involved.
E)   A bailment may benefit a bailee only if the bailee owed a preexisting debt to the bailor.F) C) and D)
G) B) and D)

Question 6

Which of the following is true regarding Frank's statement at the hospital regarding Bubbles taking the ticket?

Accepted Answer

A)   At that point he made a valid gift that could not be revoked.
B)   He did not make a valid inter vivos or causa mortis gift because there was no certainty that he would die.
C)   He made an irrevocable gift at that time only if Bubbles never had another boyfriend; otherwise, she had to give the ticket and any resulting cash to Frank.
D)   He made an irrevocable gift at that time if Bubbles refrained from having another boyfriend until she cashed the ticket; and, after the ticket was converted, the condition no longer applied.
E)   None of these.F) B) and D)
G) B) and C)

Question 7

Which of the following is true regarding the bailment situation,or lack thereof,existing between Donnie and Karen?

Accepted Answer

A)   It was a gratuitous bailment.
B)   It was a bailment for consideration.
C)   It was a temporary bailment.
D)   It was a constructive bailment.
E)   There was no bailment because no consideration was provided.F) C) and D)
G) B) and C)

Question 8

Cindy sold her old used automobile to Bruce for $1,000.Cindy told Bruce to come and take the car and that the transfer would be complete.Is Cindy correct,and why or why not?

Accepted Answer

Cindy is incorrect because in order to t...

Question 9

The ______ is the person who receives transfer of possession of property in a bailment situation.

Accepted Answer

A)   Transferor
B)   Transferee
C)   Novator
D)   Bailor
E)   BaileeF) None of the above
G) B) and D)

Question 10

A person who finds abandoned property becomes its owner.

Accepted Answer

A) True 
 B)False

Question 11

Parties to a bailment contract can limit or expand the liability of the bailee by contract.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is false regarding bailments?

Accepted Answer

A)   A bailment may be gratuitous.
B)   A bailment may be for consideration.
C)   A bailment agreement must be contained in a written agreement.
D)   The parties to a bailment contract can limit or expand the liability of the bailee by contract.
E)   The standard of care varies depending on who benefits from the bailment.F) B) and E)
G) A) and B)

Question 13

When a bailment is for the purpose of transportation or storage of goods,certain _____,governed by Article VII of the Uniform Commercial Code,may be issued in conjunction with the bailment.

Accepted Answer

A)   Proofs of title
B)   Agreements of title
C)   Illustrations of title
D)   Documents of title
E)   Evidence of titleF) C) and D)
G) None of the above

Question 14

Which of the following is true if a bailment is intended to benefit only the bailor?

Accepted Answer

A)   The bailee is liable for harm to the bailed property arising out of either the bailee's ordinary or gross negligence.
B)   The bailee is liable for harm to the bailed property arising only out of the bailee's gross negligence only.
C)   The bailee is liable for harm to the bailed property caused by even the slightest lack of due care on the part of the bailee.
D)   The bailee is strictly liable for harm to the bailed property.
E)   The bailee is not liable for harm to the bailed property because of the doctrine of assumption of the risk.F) B) and E)
G) C) and E)

Question 15

Fixtures are treated like ______ property.

Accepted Answer

A)   Real
B)   Personal
C)   Valued
D)   Appraised
E)   SubstantiveF) None of the above
G) D) and E)

Question 16

In order to enforce a right to sell property that is subject to a bailment when the bailor does not pay an agreed upon price,a bailee is given a[n] _____.

Accepted Answer

A)   Bailee's lien
B)   Bailor's lien
C)   Bailment document
D)   Lien document
E)   Enforcement lienF) B) and E)
G) C) and D)

Question 17

Which of the following is a type of property that can be touched?

Accepted Answer

A)   Tangible
B)   Manifest
C)   Substantive
D)   Discernible
E)   PhysicalF) B) and C)
G) A) and E)

Question 18

When does title to property pass?

Accepted Answer

A)   When the parties intend.
B)   When a contract is made.
C)   When physical possession is obtained.
D)   Twenty-four hours after possession is obtained.
E)   Three days after a contract is signed.F) All of the above
G) C) and D)

Question 19

Which of the following is false under Italian Property Law?

Accepted Answer

A)   There is a difference between physical possession and a mental intention to possess.
B)   For immovable property, the potential owner must possess the property for no less than 20 years before full ownership can occur.
C)   For movable property, the potential owner must possess the property for no less than 10 years before full ownership can occur.
D)   Immovable property includes anything attached to the ground, such as trees, buildings, homes, and arenas.
E)   Registration is not required for any movable property.F) B) and C)
G) C) and D)

Question 20

Which of the following is property that the true owner has intentionally placed somewhere but has forgotten its location?

Accepted Answer

A)   Lost
B)   Mislaid
C)   Discarded
D)   Abandoned
E)   TerminatedF) B) and C)
G) C) and D)

Exam 48: The Nature of Property, Personal Property, and Bailments

Which of the following is a term for gifts made in contemplation of death?

Correct AnswerverifiedShow Answer

Which of the following is true regarding the person to benefit from a bailment?

Correct AnswerverifiedShow Answer

Which of the following is true if a bailment is for the mutual benefit of both the bailee and the bailor?

Correct AnswerverifiedShow Answer

The ______ is the person who receives transfer of possession of property in a bailment situation.

Correct AnswerverifiedShow Answer

A person who finds abandoned property becomes its owner.

Correct AnswerverifiedShow Answer

Which of the following is false regarding bailments?

Correct AnswerverifiedShow Answer

Which of the following is not a right of a bailee?

Correct AnswerverifiedShow Answer

In order to enforce a right to sell property that is subject to a bailment when the bailor does not pay an agreed upon price,a bailee is given a[n] _____.

Correct AnswerverifiedShow Answer

Which of the following is true regarding Tina's statement that she was entitled to the ring because she would not have given it to Becca if she had known the true value?

Correct AnswerverifiedShow Answer

Fixtures are treated like ______ property.

Correct AnswerverifiedShow Answer

Parties to a bailment contract can limit or expand the liability of the bailee by contract.

Correct AnswerverifiedShow Answer

Which of the following is a type of property that can be touched?

Correct AnswerverifiedShow Answer

Which of the following is false under Italian Property Law?

Correct AnswerverifiedShow Answer

Which of the following is true regarding Frank's statement at the hospital regarding Bubbles taking the ticket?

Correct AnswerverifiedShow Answer

Which of the following is property that the true owner has intentionally placed somewhere but has forgotten its location?

Correct AnswerverifiedShow Answer

Which of the following is true if a bailment is intended to benefit only the bailor?

Correct AnswerverifiedShow Answer

When does title to property pass?

Correct AnswerverifiedShow Answer

Which of the following is true regarding the bailment situation,or lack thereof,existing between Donnie and Karen?

Correct AnswerverifiedShow Answer

When a bailment is for the purpose of transportation or storage of goods,certain _____,governed by Article VII of the Uniform Commercial Code,may be issued in conjunction with the bailment.

Correct AnswerverifiedShow Answer

Cindy sold her old used automobile to Bruce for $1,000.Cindy told Bruce to come and take the car and that the transfer would be complete.Is Cindy correct,and why or why not?

Correct AnswerverifiedCindy is incorrect because in order to t...View AnswerShow Answer

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Cindy is incorrect because in order to t...
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