Deck 37: Personal Property, Bailment, and Insurance

Question 1

Personal property consists of everything that is not real property.

Answer 1

True

Question 2

Real property can become personal property if it is removed from the land.

Answer 2

True

Question 3

If property is owned concurrently by two (2)or more persons,there is divergent ownership.

Answer 3

False

Question 4

All property can be classified as either real or personal.

Question 5

When you buy a tree with its roots wrapped in burlap from a nursery,at the moment of purchase,that tree is personal property.

Question 6

Heating systems and storm windows are examples of integrated property.

Question 7

Tangible property represents rights that cannot be reduced to physical form,such as stock certificates,certificates of deposit,bonds,and copyrights.

Question 8

Dirt in a wheelbarrow would be considered real property.

Question 9

A tree that is part of a forest is real property,while a tree that is cut down is a fixture.

Question 10

Fixtures are items,once real property,that have been removed to become personal property.

Question 11

Ace Appliance,Inc.delivered and installed an under-the-counter dishwasher in Maria's house.This dishwasher is considered a fixture.

Question 12

Real property includes land.

Question 13

Real property includes property that is permanently attached to land.

Question 14

Personal property can be acquired or transferred with a minimum of formality.

Question 15

Personal property can be divided into the three categories of tangible,intangible,and real property.

Question 16

Unless otherwise agreed,fixtures remain with real property when the real property is sold.

Question 17

Personal property that is permanently affixed to land or buildings is called integrated property.

Question 18

Personal property is sometimes referred to as chattel property.

Question 19

Intangible property includes physically defined property,such as goods,animals,and minerals.

Question 20

Generally,minerals,crops and timber are real property both while attached to the land,and when severed from the land.

Question 21

The courts presume acceptance of a gift unless there is proof that the gift was refused.

Question 22

A gift requires delivery in order to be effective.

Question 23

A gift made during a person's lifetime that is a revocable future transfer of ownership is a gift inter vivos.

Question 24

Constructive delivery is the usual method of transferring personal property.

Question 25

A gift causa mortis is a gift made in contemplation of the execution of a will.

Question 26

A gift "causa mortis" is ineffective if the donor recovers from the existing illness or peril.

Question 27

"Donative intent" means that the donor must accept the goods for a gift to be valid.

Question 28

If the person who dies has a valid will,the property is distributed to beneficiaries pursuant to the provisions of the will.

Question 29

Most intangible property is transferred by written conveyance.

Question 30

In today's urbanized society,acquiring ownership in personal property by capture has become increasingly important.

Question 31

If there is no direct evidence that a donee has accepted a gift,the courts will presume that the gift was not accepted.

Question 32

The Uniform Transfers to Minors Act is uniform federal law,and states are required to follow it according to the Supremacy Clause of the United States Constitution.

Question 33

A gift can be classified as either a gift in utero or a gift causa mortis.

Question 34

Once the donee has accepted a gift "causa mortis," it cannot be revoked by the donor.

Question 35

A gift is valid only if the donee gives the same amount of consideration for the property that the donor gives.

Question 36

A gift is voluntary transfer of property with consideration.

Question 37

Examples of acquiring ownership in personal property include capture,accession,and confusion.

Question 38

A gift causa mortis is established when the donor makes a gift in anticipation of approaching death from some potential sickness or peril.

Question 39

The most common method of acquiring title to personal property is by purchasing the property from its owner.

Question 40

Constructive delivery is also known as physical delivery.

Question 41

Finders of abandoned property must comply with estray statutes in order to acquire title to the found property.

Question 42

Generally,a finder of mislaid property has superior rights to that property against everyone except the original owner.

Question 43

The finder of lost property acquires the same rights as the finder of mislaid property.

Question 44

Josh goes to Billy Bob's Steakhouse for dinner and puts his coat in an attended cloakroom.He is given a ticket which he must present in order to retrieve the jacket.Josh and Billy Bob's are parties to a bailment contract.

Question 45

The owner of the premises where the property is mislaid is entitled to take possession of the property against all except the rightful owner.

Question 46

Confusion occurs if two (2)or more persons commingle fungible goods.

Question 47

A bailment consists of the transfer of possession of personal property without a transfer of title.

Question 48

If an owner discards property intending to relinquish his or her rights to it,the property is considered to be abandoned.

Question 49

Julie owns a mare named Echo.Echo gives birth to a colt.Pursuant to succession,Julie owns the newborn colt.

Question 50

In property law,"accession" occurs when the value of personal property increases because it is added to or improved by natural or manufactured means.

Question 51

Property is considered mislaid property when its owner involuntarily places the property somewhere and then intentionally forgets it.

Question 52

In property law,"confusion" refers to an owner being unable to determine the extent of his property.

Question 53

Owners share ownership in commingled goods in proportion to the amount of goods contributed by each owner.

Question 54

In a bailment,the party to whom the property is delivered for safekeeping,storage,or delivery is the bailor.

Question 55

Title to goods cannot be acquired by confusion.

Question 56

An "estray" statute provides a method by which title may be cleared to mislaid or lost property.

Question 57

The distinction between lost and mislaid property is based on how the property came to be in the place where it was found.

Question 58

In a bailment,the owner of the property is the bailee.

Question 59

A ring found on a shelf in front of a bathroom mirror is most likely lost.

Question 60

Property is considered lost property when its owner negligently,carelessly,or inadvertently leaves it somewhere.

Question 61

A bailment for a fixed term terminates at the end of the term,or sooner by the mutual consent of the parties.

Question 62

Physical delivery must be accomplished in order to create a bailment.

Question 63

House-sitting would be an example of a bailment,because e the house-sitter is in temporary possession of someone's house,with the intention to return full possession to the owner upon his or her return.

Question 64

In a state that has not enacted innkeepers' statutes,if a woman knows that a hotel safe is available but does not put her engagement and wedding rings in the safe,the hotel will still be strictly liable for the two rings if they are stolen when a thief breaks into her room and steals them from atop the night stand while she is in the shower.

Question 65

If properly created,a bailment can exist for either real or personal property.

Question 66

Common carriers are liable for damage to goods caused by an act of God.

Question 67

In a bailment,the bailee has the right to use the bailed property unless the terms of the bailment agreement state otherwise.

Question 68

In a bailment,the bailee must follow the bailor's directions concerning the goods.

Question 69

In most cases,a bailment for hire is considered to be for the sole benefit of the bailor.

Question 70

If a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag,an implied bailment has been formed.

Question 71

A bailment may be either express or implied.

Question 72

The creation of a bailment requires contractual formality.

Question 73

If goods are being shipped by a common carrier trucking company,and the truck is hijacked by an armed robber and the shipment is destroyed,the common carrier will be liable for the loss of the goods because the "acts of a public enemy" exception does not apply in this situation.

Question 74

Under the Statute of Frauds,a bailment agreement must be in writing if it is for more than three (3)months.

Question 75

Express bailments must be in writing.

Question 76

Constructive delivery can create a bailment.

Question 77

An example of an implied bailment is the finding and safeguarding of lost property.

Question 78

Garages are always liable for damage done to parked cars.

Question 79

Historically,in a bailment for the sole benefit of the bailee,the bailee owes a duty of great care to protect the bailed property.

Question 80

In a bailment,the title to the goods stays with the bailor.