Deck 16: Transfer of Title

Question 1

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

Answer 1

True

Question 2

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

Answer 2

True

Question 3

Title passes when the parties intend it to pass.

Answer 3

True

Question 4

Fungible goods are those that are generally sold by weight or measure.

Question 5

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

Question 6

The intangible right of ownership is called:

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

Question 7

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

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

Question 8

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 9

Real estate, also known as ____________, is land and all articles permanently attached to it, such as buildings and trees.

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

Question 10

A bill of sale is an example of how a title may be:

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

Question 11

It is not possible for title to goods to be passed by a nonowner who does not have title.

Question 12

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 13

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

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

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

Question 16

An order bill of lading is not negotiable.

Question 17

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

Question 18

It is not possible to have possession of goods without having title, just as it is not possible to have title without having possession.

Question 19

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 the:

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

Question 20

Title is a tangible property.

Question 21

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 22

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

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

Question 23

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

A) the purchase was made in good faith.
B) the purchase was made from one with 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 24

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

A) third party delegatee.
B) third party beneficiary.
C) third party seller for value.
D) a good faith third party purchaser for value.

Question 25

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 26

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

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

Question 27

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

Question 28

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) repossession.

Question 29

A sale, in which contract provisions 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 30

Anyone who buys an article from someone who has found it must be prepared to surrender the article to the:

A) true owner.
B) clerk of court.
C) county recorder.
D) county magistrate.

Question 31

A warehouse receipt is used for goods that are being:

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

Question 32

A bill of sale that is handwritten is:

A) void
B) effective.
C) voidable.
D) rescindable. .

Question 33

In the event that the intent of the parties with regard to the passage of title is unclear, title passes at the moment when the parties:

A) rescind the contract
B) petition the court for approval of title passage.
C) unconditionally agree to sell.
D) conditionally agree to enter into a contract

Question 34

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

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

Question 35

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

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 36

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 37

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 38

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

A) remote parties.
B) third parties.
C) veteran parties.
D) amicus retailers.

Question 39

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

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

Question 40

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 41

Explain how in certain circumstances it is possible for title to goods to be passed to a third party by a nonowner who does not have title.

Question 42

What are the various methods by which title passes?