Question 1

Bram finds a tablet on the counter at Coffee Shoppe.He takes the tablet to the police station's lost and found desk.The officer at the desk tells Bram that if the tablet is not claimed in a certain amount of time,Bram can obtain title to it.This is an example of acquiring possession by

Accepted Answer

Acquiring possession through an estray statute means that the finder of lost or abandoned property has the right to claim title to it if the original owner does not claim it within a certain period of time.

Question 2

Pearl gives Raphael a smartphone as a gift.Raphael develops a new app for the phone.She obtains intellectual property protection,and forms QuikApps,LLC,to make and market the app.Raphael's acquisition of the app is by

Accepted Answer

The answer of Pearl gives Raphael a smartphone as a...

Question 3

Nero and Omar agree to buy natural gas to sell to Power Fuel Refinery and to share storage costs until Power Fuel can take delivery.The gas is commingled so that Nero's cannot be distinguished from Omar's.This is

Accepted Answer

This situation is an example of confusion, as the gas from Nero and Omar has been commingled and cannot be distinguished from each other. Accession refers to the addition of value to existing property through labor or improvements, conversion involves taking another's property without their consent and using it as one's own, and a bailment involves transferring possession of property from one person to another for a specific purpose or duration.

Question 4

Ester sells shares in Fast Food Franchise Company to Gaye.Ester does not hand the stock certificates to Gaye,but gives her the key to a safety-deposit box in Heartland Bank in which the certificates are locked.Presenting the key is

Accepted Answer

This is constructive delivery because Ester has given Gaye access to the stock certificates by giving her the key to the safety-deposit box where they are located.

Question 5

Gabrielle buys silver and jade to make jewelry.The finished products are sold to Hand Crafts,a shop that sells these items and others to customers who often present them as gifts.The most common way to acquire personal property is to

Accepted Answer

The passage states that Gabrielle buys the silver and jade to make jewelry, indicating that she acquires the raw materials by purchasing them. Furthermore, the finished products are sold to Hand Crafts, implying that Gabrielle is selling her own personal property. Therefore, buying personal property is the most common way to acquire it.

Question 6

Marcy goes hunting out of season and shoots an endangered species of deer in a national park.Marcy's acquisition of the deer is

Accepted Answer

Marcy's acquisition of the deer is illegal because she hunted out of season and shot an endangered species in a national park, which is against the law.

Question 7

Lauren owns a 1967 Ford Mustang,which Mike customizes and details to Lauren's specifications.The car earns several awards at regional vehicle customizing competition shows.The result of Mike's efforts is

Accepted Answer

The answer of Lauren owns a 1967 Ford Mustang,which Mike...

Question 8

Ben allows Cody to store his trailer on Ben's property for $20 a month while Cody is out of town on a job for Plain States Construction,his employer.The bailor is​

Accepted Answer

The answer of Ben allows Cody to store his trailer...

Question 9

In contemplation of death during risky surgery,Donnelly,a guitarist,gives his guitars to Cathy.The surgery is successful,and Donnelly does not die.The gift of the guitars is

Accepted Answer

The answer of In contemplation of death during risky surgery,Donnelly,a...

Question 10

Fred and Joanne are married.Joanne purchases a car.Fred and Joanne each technically own an undivided one-half interest in the car.This is

Accepted Answer

The answer of Fred and Joanne are married.Joanne purchases a...

Question 11

Umiko owns Valley Vineyard.Umiko's only son Waldo owns the adjacent Hillside Orchards.Umiko gives 90 percent of the Valley Vineyard to Irene,a short-term employee.This gift may lack the required element of

Accepted Answer

Donative intent is an essential element for a gift to be legally recognized. It means that the donor must have the intention to give away the property or asset as a gift without any consideration. In this case, if Umiko did not have the clear intent to gift 90% of the Valley Vineyard to Irene, it may not be recognized as a gift. Additionally, the other options do not particularly apply to this scenario.

Question 12

Inadvertently,Rocko leaves his backpack at Sandy's Sandwiches when he stops for lunch and an hour of Facebook.The backpack is

Accepted Answer

The backpack is considered mislaid property because Rocko unintentionally left it at Sandy's Sandwiches with the intention of returning to retrieve it.

Question 13

Garth tells his daughter Heidi that she can have his restored 1932 Ford Coupé when he dies,but he does not add this to his will.This is

Accepted Answer

In order to be a valid gift, it must meet the requirements of either a gift causa mortis, inter vivos, or testamentary. However, since Garth did not add this to his will and did not make the gift before his death, it cannot be considered a valid gift.

Question 14

Jon steals an old,battered bicycle that is parked,unlocked,in front of a convenience store.He repairs,paints,and replaces parts on the bike until it is like new.The original owner,Kim,claims the bike.The bike belongs to

Accepted Answer

Jon stole the bike from Kim, so she is the rightful owner regardless of any improvements Jon made to the bike.

Question 15

Klondike and Leola own 10,000 shares of stock in My-T Gro Corporation.On the death of either owner,that owner's interest in the stock passes to the surviving owner.This is

Accepted Answer

This is a joint tenancy, which is a form of co-ownership where each owner has an equal share and right of survivorship. This means that when one owner dies, their share automatically passes to the surviving owner without going through probate.

Question 16

Rhett works at Scarlett's Sandwich Café.After work,in the parking lot,Rhett finds a diamond ring lost by Thalia.Title to the ring is possessed by

Accepted Answer

The diamond ring belongs to Thalia and she is the rightful owner. Rhett is obligated to turn the ring in to the café for safekeeping until Thalia can be located. Scarlett's may have a duty to hold the ring in safekeeping, but they do not have ownership rights. The state does not have any claim to the ring.

Question 17

​Yogi loans his laptop to Zoey.This is

Accepted Answer

This is a bailment as Yogi is lending his laptop to Zoey temporarily with the understanding that he will receive it back in the same condition.

Question 18

Angela is young and healthy when she gives Annie a prize-winning horse.The gift meets all the requirements to be effective.This is a gift

Accepted Answer

An inter vivos gift is a gift given during the giver's lifetime, and it meets all the requirements of a valid gift. In this case, Angela gave Annie a prize-winning horse while she was young and healthy, indicating that she gave it during her lifetime. Additionally, the gift met all the requirements for a valid gift to be effective.

Question 19

Helen owns heavy construction equipment and the tools to service it,as well as office furniture,including computers.Ilya owns a number of patents,trademarks that identify the products made under those patents,and stock in the company that sells those products.Personal property includes the items owned by

Accepted Answer

Both Helen and Ilya own personal property. Helen owns heavy construction equipment, tools, and office furniture, while Ilya owns patents, trademarks, and stock in a company. Therefore, the answer is A.

Question 20

Edna and Flavia buy a boat that they dock in a marina near Gulfport,Mississippi.On the death of either owner,that owner's interest in the boat passes to her heirs.This is

Accepted Answer

The ownership described in the scenario is a tenancy in common, as each owner has a divisible interest in the boat and their interest will pass to their respective heirs upon their death. Joint tenancy requires the right of survivorship, meaning the surviving owner would inherit the other's share automatically, which is not the case here. Community property is a form of ownership only recognized in certain states and requires the property to be acquired during the marriage, which is not indicated in the scenario. Ownership in fee simple is a form of ownership with complete control and rights over the property, which is not indicated in the scenario as the interest is subject to passing to heirs upon death.

Quiz 36: Personal Property and Bailments