Deck 36: Introduction to Property: Personal Property and Fixtures

Question 1

The finder of lost property is said to be a quasi-bailee for the true owner.

Answer 1

True

Question 2

The owner is entitled to the return of lost or misplaced property unless:

A) the finder actually takes the object into her possession.
B) the goods are found on private property.
C) it was lost on public land or in a public area.
D) he has intentionally abandoned it.
E) the finder has expenses in connection with returning the property.

Answer 2

D

Question 3

The sale of personal property, but not real property, is governed by Article 2 of the Uniform Commercial Code.

Answer 3

True

Question 4

Real property is movable whereas personal property is immovable.

Question 5

For an object to be considered a fixture, it must be annexed or affixed to the real property.

Question 6

A gift inter vivos is a gift made by someone contemplating death in the near future.

Question 7

Which of the following is an example of tangible property?

A) Stocks
B) Bonds
C) Copyrights
D) Patents
E) Buildings

Question 8

A fixture is an object that was once personal property but that has become so affixed to land or structures that it is considered legally a part of the real property.

Question 9

Tenant's fixtures cannot be transferred when the tenant's lease expires, and must remain with the real property.

Question 10

Which of the following is an example of an intangible property?

A) A trademark
B) A popsicle stand
C) A hairdryer
D) A steamroller
E) A phone

Question 11

The finder who knows the owner or has reasonable means of discovering the owner's identity commits _____ if she holds on to the object with the intent that it be hers.

A) capital theft
B) brigandage
C) embezzlement
D) fraud
E) larceny

Question 12

Tenant's fixtures must be removable without causing substantial damage to the landlord's property.

Question 13

A gift causa mortis can be revoked, while a gift inter vivos cannot.

Question 14

A steamroller is an example of a tangible property.

Question 15

The general rule of accession is that when goods are added to goods, the owner of the principal goods becomes the owner of the enhanced product.

Question 16

Gifts under the Uniform Transfers to Minors Act are limited for the most part to money or securities, while the Uniform Gifts to Minors Act allows gifts such as real estate.

Question 17

Transfer of real property usually takes place without any documents at all.

Question 18

Tangible property is something without physical reality that entitles the owner to certain benefits.

Question 19

Which of the following is true of real and personal property?

A) Real property is movable.
B) Transfer of personal property can take place without any documents at all.
C) Personal property is immovable and can only be transferred by a deed.
D) At common law, real property has been referred to as chattels.
E) The sale of personal property is governed by the general law of contracts.

Question 20

For tax purposes, fixtures are treated as personal property.

Question 21

The three types of tenant's fixtures remain personal property and may be removed by the tenant if three conditions are met. What are they?

Question 22

A contract for sale or for testamentary transfer will consider a stove bolted to the floor of a kitchen and connected to the gas lines to be an):

A) gift.
B) lien.
C) fixture.
D) confusion.
E) codicil.

Question 23

Sometimes, the personal property of one individual is intermingled, negligently or intentionally, with the personal property of another. This is known as:

A) accession.
B) composition.
C) conversion.
D) contribution.
E) confusion.

Question 24

Which of the following is true of a gift inter vivos?

A) It is made between living persons without conditions attached.
B) It is made by someone contemplating death in the future.
C) The gift is made with the intent to transfer the property at a future date.
D) The donor has the power to revoke this gift before he dies.
E) The donee loses title if the donor does not die.

Question 25

When a garage uses its paint to repaint a customer's automobile, the car owner, not the painter, is the owner of the finished product. This situation follows the general rule of:

A) receivership.
B) composition.
C) conversion.
D) accession.
E) confusion.

Question 26

Which of the following is true of gifts?

A) The transfer of a gift involves compensation but not consideration.
B) A gift is a declaration of an intention to give in the future rather than a present transfer.
C) A gift is a voluntary transfer of property.
D) A gift requires consideration but not necessarily compensation.
E) A gift depends on the intention of the giver, but not on the acceptance of the donee.

Question 27

A _____ is a voluntary transfer of property without consideration or compensation, which takes effect immediately, upon preparation of the documents.

A) promise
B) will
C) grant
D) gift
E) sale

Question 28

A tenant's fixture can be removed by the tenant when he leaves the property only if:

A) it was installed at the tenant's expense and not the landlord's.
B) it can be removed without causing damage to the landlord's property.
C) the cost of the fixture exceeds a certain maximum cost established by the state.
D) the fixture does not in any way add to the value of the landlord's property.
E) it is not considered to be a trade, agricultural, or domestic fixture.

Question 29

To make an effective gift inter vivos or causa mortis, the law imposes three requirements. What are they?

Question 30

Which of the following refers to an object that was once personal property but that has become so attached to land or structures that it is considered legally a part of the real property?

A) Chattel
B) Fixture
C) Accession
D) Codicil
E) Lien

Question 31

Which of the following is an example of an agricultural fixture?

A) Milling plants
B) Book-shelves
C) Washing machines
D) Doors
E) Screens

Question 32

A _____ gift is made by someone contemplating death in the near future.

A) pro bono
B) inter vivos
C) causa mortis
D) ex nihilo
E) jus soli