Question 1

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

Accepted Answer

The answer of Finders of abandoned property must comply with...

Question 2

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

Accepted Answer

The answer of Generally,a finder of mislaid property has superior...

Question 3

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

Accepted Answer

The finder of lost property acquires a lower level of rights compared to the finder of mislaid property. In the case of lost property, the owner has not intentionally placed the property in a specific location with the intention of returning to claim it. Hence, the finder of lost property is required to make reasonable efforts to locate the true owner of the property, and if the owner cannot be located, the finder may have a claim to the property after a certain period of time has elapsed. On the other hand, in the case of mislaid property, the owner has intentionally placed the property in a specific location with the intention of returning to claim it later. In such cases, the finder of mislaid property must leave the property where it is and notify the owner or the authorities. If the owner does not claim the property within a certain period, the finder may have a claim to it. Therefore, the rights of the finder of mislaid property are generally stronger compared to those of the finder of lost property.

Question 4

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.

Accepted Answer

A bailment occurs when one person (the bailor) transfers possession of their property to another person (the bailee) for a specific purpose. In this scenario, Josh is the bailor and Billy Bob's is the bailee, as Josh has entrusted his coat to the care of the restaurant. The cloakroom attendant provides a ticket as evidence of the transfer of possession, which Josh will need to present to retrieve his jacket later. Therefore, Josh and Billy Bob's are parties to a bailment contract.

Question 5

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

Accepted Answer

This is true. If property is mislaid on someone's premises, the owner of that premises has a right to take possession of the property against anyone except the rightful owner. This is because the owner of the premises is considered to have a higher level of possession than anyone else who may have come into contact with the property. However, if the rightful owner is identified and makes a claim to the property, the owner of the premises must return it to them.

Question 6

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

Accepted Answer

Confusion occurs when fungible goods are commingled between two or more persons, as it becomes difficult to identify the ownership of specific items or portions of the commingled goods.

Question 7

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

Accepted Answer

In a bailment, the possessor (bailee) only has temporary possession of the personal property, while the title remains with the owner (bailor).

Question 8

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

Accepted Answer

This is true. When an owner discards property with the intention of relinquishing their ownership rights, it is considered abandoned. Abandoned property typically becomes the property of the government or whoever finds it, depending on the circumstances.

Question 9

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

Accepted Answer

The answer of Julie owns a mare named Echo.Echo gives...

Question 10

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

Accepted Answer

Accession is a legal term used in property law to describe the increase in value of personal property due to natural or manufactured means such as addition or improvement. It can also refer to the acquisition of property by adding to or improving an existing property.

Question 11

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

Accepted Answer

Mislaid property is when the owner intentionally places it somewhere but forgets to retrieve it, not involuntarily.

Question 12

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

Accepted Answer

In property law, "confusion" refers to the mixing of goods or property of different owners such that they cannot be separated and identified as belonging to their original owners.

Question 13

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

Accepted Answer

This is the rule of proportionate ownership in commingled goods known as "tenancy in common." Each owner's share is based on the value or quantity of their contribution to the goods, rather than an equal division.

Question 14

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

Accepted Answer

The party to whom the property is delivered for safekeeping, storage or delivery is the bailee. The bailor is the party who delivers the property.

Question 15

Title to goods cannot be acquired by confusion.

Accepted Answer

Title to goods can be acquired by confusion if it involves the intentional mixing of products belonging to different owners with the consent of all parties, making the individual portions indistinguishable and resulting in shared ownership based on the proportion of each party's contribution.

Question 16

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

Accepted Answer

An "estray" statute is a legal mechanism that allows an individual to claim ownership of lost or mislaid property by following specific procedures outlined in the statute. These procedures typically involve posting notices and waiting a specific period of time to allow the true owner to come forward before the finder of the property is granted title. Therefore, an "estray" statute can help clear title to mislaid or lost property.

Question 17

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

Accepted Answer

The distinction between lost and mislaid property is indeed based on how the property came to be in the place where it was found. Lost property is one that the owner has unknowingly and unintentionally parted with, whereas mislaid property is intentionally placed by the owner, but is simply forgotten or overlooked.

Question 18

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

Accepted Answer

In a bailment, the owner of the property is the bailor, not the bailee. The bailee is the person who receives the property as a deposit, while the bailor retains legal ownership of the property.

Question 19

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

Accepted Answer

The ring could have been intentionally placed there by someone who removed it before washing hands or doing other activities.

Question 20

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

Accepted Answer

Lost property is property that has been abandoned or forgotten by its owner, who has not intentionally relinquished ownership of it.

Quiz 37: Personal Property, Bailment, and Insurance