Deck 9: Property Law

Question 1

Intangible property cannot be touched or moved

Answer 1

True

Question 2

Intangible property can be touched and moved

Answer 2

False

Question 3

Real property is land and anything attached to it.

Answer 3

True

Question 4

Private property is that property owned by the government and available to the general public to use.

Question 5

Your business's reputation and goodwill is a form of intangible personal property.

Question 6

Fee simple ownership is the greatest interest a person can have in land.

Question 7

The city sidewalk in front of your store is your private property.

Question 8

Your cellphone is an example of intangible property.

Question 9

Tangible property cannot be touched or moved.

Question 10

Intellectual property is a type of personal property resulting from an individual's creative activities.

Question 11

An interest in property determines whether an individual or organization owns an item, has the right to possession of the item, has the right to transfer an interest in the item, has the right to stop someone else from using the item or occupying a space.

Question 12

Intellectual property is a form of tangible personal property.

Question 13

Intellectual property is a form of intangible personal property.

Question 14

Personal property is referred to as an intangible chattel.

Question 15

Fixtures are chattels that become part of the real property when permanently affixed to land.

Question 16

Your cellphone is an example of tangible property.

Question 17

Property law is the area of law that refers to the rights and responsibilities we have over real and personal property.

Question 18

Tangible property can be touched and moved.

Question 19

Public property is that property owned by the government and available to the general public to use.

Question 20

Personal property is referred to as a tangible chattel.

Question 21

Mortgagor is the bank or person lending the money.

Question 22

A mortgage must be paid in full at the end of the loan term.

Question 23

Registration of a mortgage protects a mortgagee's priority in the event a second mortgage is registered against the land.

Question 24

The land titles system of registration guarantees the accuracy of title to real property.

Question 25

The amortization period is the length of time it takes to repay a mortgage loan in full on a payment schedule.

Question 26

Mortgagor is the person who borrows the money.

Question 27

Ownership of real property in Canada is recorded using either a registry system or a land titles system.

Question 28

Governments may limit the types of structures that can be built on real property.

Question 29

The registry system guarantees the accuracy of the title to real property.

Question 30

The registry system confirms ownership of the real property.

Question 31

Mortgagee is the person who borrows the money.

Question 32

Purchase and sale of real property is exempt from provincial and municipal taxes.

Question 33

The registry system records the documents that have been registered against real property and does not confirm ownership.

Question 34

A mortgage is always registered in the appropriate land title office.

Question 35

A mortgage is a debt secured by the real property to ensure payment of a loan for a set amount of money.

Question 36

If a party defaults on a mortgage payment the mortgagee may demand payment in full at the time of the default.

Question 37

Mortgagee is the bank or person lending the money.

Question 38

Zoning regulations determine whether real property can be used for operating a business.

Question 39

Owners of land are responsible for environmental problems on the land.

Question 40

Fee simple ownership includes the right to exclusive possession and use of land for an indefinite period of time.

Question 41

A sublet is when the tenant transfers the tenancy to another person for the remaining term of the lease.

Question 42

One remedy available to a mortgagee upon default is a judicial sale.

Question 43

An acceleration clause permits the mortgagee to demand immediate payment of the full amount of the loan in the event of a default.

Question 44

An assignment is when the tenant transfers the tenancy to another person for the remaining term of the lease.

Question 45

A lease gives a tenant both possession and ownership of the property.

Question 46

A fixed tenancy is a lease for an indefinite period of time.

Question 47

A gross lease is one in which the tenant pays a fixed amount as rent as well as a percentage of the landlord's operating expenses.

Question 48

An assignor is a person who transfer rights to an assignee under an assignment.

Question 49

An assignment is when the tenant allows another person to occupy their leased premises during the term of the lease.

Question 50

A sublet is when the tenant allows another person to occupy their leased premises during the term of the lease.

Question 51

A net lease is one in which the tenant pays a fixed amount as rent on a regular basis.

Question 52

Quiet enjoyment is the right of the lessee to occupy and use the premises without interference from the landlord.

Question 53

A lease gives a tenant possession of the property while the landlord maintains ownership.

Question 54

A lease is a contract that sets out the terms and conditions for the rental of real property.

Question 55

A net lease is one in which the tenant pays a fixed amount as rent as well as a percentage of the landlord's operating expenses.

Question 56

A gross lease is one in which the tenant pays a fixed amount as rent on a regular basis.

Question 57

Commercial leases can be either a net lease or a gross lease.

Question 58

A fixed tenancy is a lease for a specified period of time.

Question 59

A periodic tenancy is automatically renewed until notice is given terminate it.

Question 60

Foreclosure is a remedy that allows a mortgagee to obtain title to real property if the mortgagor has defaulted.

Question 61

A landlord can evict a tenant for breaching an obligation under a lease.

Question 62

The value of intellectual property is the ownership and control rights it provides to the owner.

Question 63

A right of distress is a remedy available to a commercial landlord to seize and dispose of a tenant's assets for nonpayment of rent.

Question 64

A bailee is the person in temporary possession of the property under a bailment.

Question 65

A bailee is the person who owns the property under a bailment.

Question 66

A landlord cannot evict a tenant for breaching an obligation under a lease.

Question 67

A rental of personal property is an example of bailment for reward.

Question 68

An assignor is a person who receives rights from an assignee under an assignment.

Question 69

A bailor is the person in temporary possession of the property under a bailment.

Question 70

Copyright protects the expression of an idea through an original work but not the idea itself.

Question 71

In a bailment for services, the bailee has an obligation to look after the property as if it were his or her own.

Question 72

Personal property can be used a security for a loan.

Question 73

A lease of goods is a bailment.

Question 74

A bailor is the person who owns the property under a bailment.

Question 75

The reasonable person test is used to determine the level of care required by a bailee in bailment for reward.

Question 76

When a bailor pays a bailee to repair personal property, a bailment for services is created.

Question 77

The transfer of possession of goods from one person to another for the purpose of offering the goods for sale is an example of bailment by consignment.

Question 78

An assignee is a person who transfer rights to an assignor under an assignment.

Question 79

An assignee is a person who receives rights from an assignor under an assignment.

Question 80

A bailment occurs when one party gives another party temporary possession of a good or chattel for a specific purpose.