Question 1

Which of the following is an example of a gift inter vivos?
A)Tom is promised a watch by his uncle in case he dies during an operation.
B)Eva receives a car as a birthday gift from her father.
C)Casey inherits a mansion according to his late grandfather's will.
D)A charity home receives a grant from its dead benefactor's trust.

Accepted Answer

A gift inter vivos is a gift between two living persons.

Question 2

Sarah is hiking in the Clearwater National Forest and her wristwatch falls off her wrist.Sarah does not notice this,and the watch falls onto the trail.Later,Hans finds the watch.How may this watch best be described?
A)Lost property
B)Mislaid property
C)Abandoned property
D)Bailment property

Accepted Answer

It is lost property because Sarah did not intend to leave her wristwatch on the trail.

Question 3

When personal property is used in conjunction with real property in such a way as to be treated as part of the real property,it is known as a ________.
A)consideration
B)gift
C)fixture
D)bailment

Accepted Answer

When personal property is attached to,or used in conjunction with,real property in such a way as to be treated as part of the real property,it is known as a fixture.

Question 4

Which of the following is the most common method of obtaining ownership of property?
A)Claiming abandoned property
B)Producing the property
C)Inheriting the property
D)Discovering the property

Accepted Answer

The most common ways of obtaining ownership of property are by producing it or purchasing it.

Question 5

Some states have a statute that allows finders of property to clear their title to the property.These are called:
A)leasings.
B)statutes of limitations.
C)estray statutes.
D)exculpatory clauses.

Accepted Answer

Estray statutes allow finders of property to clear their title to the property.These statutes generally provide that the person must give public notice of the fact that the property has been found,perhaps by putting an ad in a local newspaper.

Question 6

Anya leaves her expensive handbag in the washroom of a restaurant.Melissa follows her inside,quietly hides the handbag inside her coat,and leaves the washroom.She refuses to tell Anya the truth,even when Anya frantically starts searching for her handbag as soon as she discovers its loss.Melissa is guilty of:
A)conversion.
B)bailment.
C)confusion.
D)fixture.

Accepted Answer

If the finder of lost property knows who the owner is and refuses to return it,the finder is guilty of conversion and must pay the owner the fair value of the property.

Question 7

Which of the following is true of conditional gifts?
A)They are considered completed gifts.
B)They come with certain restrictions.
C)They cannot be revoked.
D)They need to be delivered.

Accepted Answer

Gifts made on condition that the donee complies with certain restrictions are called conditional gifts.

Question 8

Which of the following is a transfer of the right to possess and use personal property belonging to another without gaining any ownership rights?
A)Conversion
B)Bailment
C)Inheritance
D)Lease

Accepted Answer

A lease of personal property is a transfer of the right to possess and use personal property belonging to another.

Question 9

Rachel was jogging when she slipped and fell on the jogging track and her diamond bracelet fell off her wrist.She got and up resumed her jog,unaware of what had happened.A little later,Judy came jogging on the same track and discovered the bracelet.Which of the following is true of the case?
A)The bracelet is lost property that Judy can hold until the owner claims it.
B)The bracelet is abandoned property.
C)The bracelet has two rightful owners.
D)The bracelet now belongs to the local authorities.

Accepted Answer

The bracelet is lost property and Rachel is the rightful owner.

Question 10

Personal property is defined by a process of ________.
A)exclusion
B)tangibility
C)consideration
D)inheritance

Accepted Answer

Personal property is defined by a process of exclusion.

Question 11

In which of the following cases does a finder have no rights to the property?
A)Abandoned property
B)Lost property
C)Mislaid property
D)Inherited property

Accepted Answer

The finder cannot claim any rights to property that has been mislaid.

Question 12

Dan leased a site from Mark for a term of two years.Bob is interested in purchasing the site and makes a great offer to Dan for it.In this case:
A)Dan cannot sell the land because he does not have ownership.
B)Dan cannot sell the land,unless he stays on it for more than five years.
C)Dan can sell the land because he has leased it from Mark.
D)Dan can sell the land if the amount offered is equal to the value of the site.

Accepted Answer

Leasing does not give the leasee ownership rights.Hence,Dan cannot sell the site even if wants to.

Question 13

Which of the following is the most essential requirement while making a valid gift?
A)Intention
B)Delivery
C)Consideration
D)Acceptance

Accepted Answer

The most critical requirement is delivery.The donor must actually give up possession and control of the property either to the donee or to a third person who is to hold it for the donee.

Question 14

Three friends (Mr.Blue,Mr.Green & Mr.Yellow)go on a hunt for a brown bear.Mr.Blue organized the hunt.All three hunters saw a brown bear.Mr.Blue fired his gun toward the bear but missed.Mr.Yellow fired his gun and was first to hit the bear,but only wounded the bear.Mr.Green fired his gun and killed the bear.Who owns the dead bear?
A)Mr.Blue
B)Mr.Green
C)Mr.Yellow
D)All three hunters

Accepted Answer

To acquire ownership of a wild animal,the person must obtain enough control to deprive the animal of its freedom.If the person fatally wounds a wild animal,the person becomes the owner.

Question 15

When property ownership is discussed in the United States,which one of the following is true?
A)We are talking about the bundle of rights that the law recognizes and enforces.
B)We are only talking about property held as life estates.
C)We are talking about all claims to property,including those that the law recognizes and those the law does not.
D)We are only talking about land over one acre in size or over a certain value.

Accepted Answer

In the United States,when we talk about property ownership,we are speaking of a bundle of rights that the law recognizes and enforces.

Question 16

Jacobs put an old typewriter in the trash.The trash collector,Land,took the typewriter,fixed it up,and sold it to Jones for $750.Jacobs contends that he is entitled to some or all of the $750 that Land received from Jones.Based on these facts:
A)Land is entitled to the value of the improvements he made,but Jacobs is entitled to the difference between the $750 Land received and the value of the improvements Land made.
B)Land is entitled to keep the full $750 because Jacobs abandoned the typewriter.
C)Jacobs is entitled to the $750 because Land paid Jacobs no consideration for the typewriter.
D)Jacobs is entitled to recover the typewriter from Jones.

Accepted Answer

The typewriter is abandoned property and as such,Land has more rights over it than anyone else,including Jacob.

Question 17

Amber gave her boyfriend,Hunter,an expensive set of stereo speakers for his birthday.Two days later,Hunter broke up with Amber and began dating Kelly.Amber is both heartbroken and furious.Is she entitled to get the speakers back from Hunter?
A)Yes,because Hunter provided Amber no consideration.
B)No,because she intended to make a gift of the speakers and actually delivered them to Hunter.
C)No,because this was a gift causa mortis.
D)Yes,because a donor is entitled to revoke her gift within a reasonable time.

Accepted Answer

Amber made the delivery of the gift to Hunter.It is a gift that she cannot reclaim from him.

Question 18

________ is the intermixing of different owners' goods in such a way that they cannot later be separated.
A)Confusion
B)Accession
C)Conversion
D)Bailment

Accepted Answer

Title to personal property may be obtained by confusion.Confusion is the intermixing of different owners' goods in such a way that they cannot later be separated.

Question 19

A gift causa mortis is a gift made in:
A)case of a birth.
B)anticipation of birth.
C)fear of death.
D)contemplation of death.

Accepted Answer

A gift causa mortis is a gift made in contemplation of death.

Question 20

Which of the following is an example of personal property?
A)Land
B)Commercial Office Building
C)House
D)Books

Accepted Answer

Real property is the earth's crust and all things firmly attached to it.All other objects and rights that may be owned are personal property.

Quiz 23: Personal Property and Bailments

Which of the following is an example of a gift inter vivos?

Sarah is hiking in the Clearwater National Forest and her wristwatch falls off her wrist.Sarah does not notice this,and the watch falls onto the trail.Later,Hans finds the watch.How may this watch best be described?

When personal property is used in conjunction with real property in such a way as to be treated as part of the real property,it is known as a ________.

Which of the following is the most common method of obtaining ownership of property?

Some states have a statute that allows finders of property to clear their title to the property.These are called:

Which of the following is true of conditional gifts?

Which of the following is a transfer of the right to possess and use personal property belonging to another without gaining any ownership rights?

Rachel was jogging when she slipped and fell on the jogging track and her diamond bracelet fell off her wrist.She got and up resumed her jog,unaware of what had happened.A little later,Judy came jogging on the same track and discovered the bracelet.Which of the following is true of the case?

Personal property is defined by a process of ________.

In which of the following cases does a finder have no rights to the property?

Dan leased a site from Mark for a term of two years.Bob is interested in purchasing the site and makes a great offer to Dan for it.In this case:

Which of the following is the most essential requirement while making a valid gift?

When property ownership is discussed in the United States,which one of the following is true?

Jacobs put an old typewriter in the trash.The trash collector,Land,took the typewriter,fixed it up,and sold it to Jones for $750.Jacobs contends that he is entitled to some or all of the $750 that Land received from Jones.Based on these facts:

Amber gave her boyfriend,Hunter,an expensive set of stereo speakers for his birthday.Two days later,Hunter broke up with Amber and began dating Kelly.Amber is both heartbroken and furious.Is she entitled to get the speakers back from Hunter?

________ is the intermixing of different owners' goods in such a way that they cannot later be separated.

A gift causa mortis is a gift made in:

Which of the following is an example of personal property?