Deck 16: Transfer of Title

Question 1

Personal property includes real property such as land and all property attached to it.

Answer 1

False

Question 2

An order bill of lading is not negotiable.

Answer 2

False

Question 3

When a person possesses an item,ownership is presumed,but it is possible to have possession of goods without having title,just as it is possible to have title without having possession.

Answer 3

True

Question 4

Bill of sale is an example of how a title may be:

A) passed.
B) eliminated.
C) amended.
D) shared.

Question 5

For title to pass by estoppel,the purchaser need not prove that the purchase was made from one in rightful possession.

Question 6

The two types of conditions found in contracts for conditional sales are conditions precedent and conditions subsequent.

Question 7

If the owner of goods entrusts proof of ownership to someone in possession of the goods,the goods cannot be recovered by the true owner from an innocent purchaser.

Question 8

The concept of title was crucial in making determinations of the rights and responsibilities of the parties to a contract,prior to the adoption of:

A) Federal Trade Law.
B) Uniform Commercial Code.
C) United Trade Commission.
D) Trivial Trade Laws.

Question 9

Legal disputes often involve the determination of who holds the title when a(n):

A) loss occurs.
B) contract commences.
C) performance initiates.
D) illegal activity occurs.

Question 10

Title is a tangible property.

Question 11

A salesperson need not have the express or implied permission of the titleholder of the merchandise to sell it.

Question 12

A circumstance in which title to goods may be passed by a non-owner who does not have title to the goods is known as pass by estoppel.

Question 13

Land and all articles permanently attached to it are known as:

A) personal property.
B) property in rem.
C) property in persona.
D) real property.

Question 14

When the owner of goods entrusts property to a person who sells the same type of goods and that person sells the property to an innocent third party,the owner cannot be estopped from recovering the goods from the third party.

Question 15

The intangible right of ownership is called:

A) custody.
B) tenure.
C) title.
D) possession.

Question 16

Goods sold by weight or measure are known as tangible goods.

Question 17

A negotiable warehouse receipt,like the negotiable order bill of lading,requires that the original copy be presented to the warehouser before the goods will be surrendered to someone claiming them.

Question 18

Title passes when the parties intend it to pass.

Question 19

A salesperson in a retail store or service station is known as a retainer party.

Question 20

Situations of wrongful possession occur when property,such as stolen goods,is transferred without the permission of the owner.

Question 21

When property,such as stolen goods,is transferred without the permission of the owner,then it amounts to:

A) rightful possession.
B) champerty.
C) wrongful possession.
D) conditional sale.

Question 22

A legal bar to the use of contradictory words or acts in asserting a claim against another is known as a(n):

A) condition.
B) estoppel.
C) redeeming power.
D) restraining order.

Question 23

Title to goods passes when the:

A) court approves the transaction
B) majority party votes for it to pass.
C) parties intend for it to pass.
D) bill of sale is approved.

Question 24

In order to recover one's lost property,one has to prove the:

A) possession of that property.
B) purchasing ability of that property.
C) legality of that property.
D) ownership over that property.

Question 25

A person who finds an article has good title against anyone EXCEPT the:

A) true owner.
B) future purchaser.
C) seller.
D) middleman.

Question 26

A salesperson of the titleholder of certain merchandise may sell the products of the titleholder because he has ___________ permission of the titleholder.

A) only the express
B) the express or implied
C) only the implied
D) neither express nor implied

Question 27

For a title to pass,it is important that the goods are:

A) ascertained.
B) not ascertained.
C) perishable.
D) not perishable.

Question 28

A warehouse receipt is used for goods that are being:

A) imported.
B) stored.
C) exported.
D) sold immediately.

Question 29

A receipt for goods that are to be shipped is known as a:

A) warehouse receipt.
B) bill of lading.
C) bill of sale.
D) bill of purchase.

Question 30

Camilla agrees to purchase a car for $ 15,000.Camilla and the seller agree that Camilla will return the following day with license plates to pick up the vehicle.In this case,the title shall pass:

A) when Camilla arrives with the license plates.
B) when Camilla takes the vehicle home.
C) at the time of purchase.
D) at the time of agreement.

Question 31

A negotiable order bill of lading can be used to ensure that the carrier will not deliver the goods until the receiver surrenders the original copy of the order bill of lading to the:

A) importer.
B) retailer.
C) dealer.
D) carrier.

Question 32

When a person sells stolen property to an innocent third party,the owner is estopped from recovering the goods from the:

A) retailer.
B) remote party.
C) seller.
D) third party.

Question 33

A nonnegotiable warehouse receipt is like a:

A) straight bill of lading.
B) bill of sale.
C) bill of purchase.
D) slanted bill of lading.

Question 34

A sale in which contract provisions that specify conditions that must be met by one of the parties is called a(n):

A) conditional sale.
B) substantial sale.
C) premeditated sale.
D) altruistic sale.

Question 35

If a bill of sale is a handwritten document instead of a legal document,the bill is:

A) no longer effective.
B) still effective.
C) void.
D) forged.

Question 36

There are two kinds of bill of lading.While one is a straight bill of lading,the other one is:

A) bill of sale.
B) flexible bill of lading.
C) order bill of lading.
D) bill of acknowledgement.

Question 37

For a title to pass by estoppel,the purchaser needs to prove the following EXCEPT that:

A) the purchase was made in good faith.
B) the purchase was made from one with the rightful possession.
C) no consideration or value was given by the buyer.
D) the value was given by the buyer for which he now claims ownership.

Question 38

When a sales contract provides that specific conditions must be met after title has passed,it is said to contain a condition:

A) that is not legal.
B) subsequent.
C) simultaneous.
D) of no consequence.

Question 39

Wheat,sugar and flour are sold by weight and measure and are examples of:

A) mutated goods.
B) moss goods.
C) amoebic goods.
D) fungible goods.

Question 40

As representatives of the owner of the goods,the individuals who have the right to make legitimate sales are known as a(n):

A) remote party.
B) third party.
C) veteran party.
D) amicus retailer.

Question 41

What are the various methods by which a title passes?

Question 42

What is the differentiating factor between the two kinds of properties?

Question 43

How does a transfer of title happen by estoppel?