Question 1

________ is property that can be identified by the senses; it can be seen or touched.

Accepted Answer

A)   Tangible property
B)   Perceptive property
C)   Fungible property
D)   Intangible property
E)   Apparent propertyF) A) and C)
G) C) and D)

Question 2

[Disputed Ring] While working in the yard Megan found a beat up ring. Taylor, an eighteen-year-old teenager and neighbor, came over to visit and liked the ring. Megan told her, "You can have this old thing if you would like." Taylor replied, "I really like it - Maybe it's a real diamond!" Megan laughingly told her that there was a one in a billion chance of that and that Megan was more likely to win the lottery. A few months later Taylor ran over to Megan's house and told Megan that the ring actually was a diamond worth thousands! Taylor gave Megan the ring to examine. Megan put it in her pocket and told Taylor that she would never have given it to her if she had realized its value and that possession was back where it had always belonged. Megan also told Taylor that Taylor failed legally to accept the gift because neither party knew its true value and that because Megan did not sign any document turning over title, it was impossible for legal ownership to pass. Taylor sues.
-Megan stated that she was entitled to the ring because she would not have given it to Taylor if she had known the true value. Which of the following is true regarding this statement?

Accepted Answer

A)   Megan is entitled to ownership of the ring if she can prove that she did not realize its true value.
B)   Megan is entitled to ownership of the ring only if she can prove that she did not realize its true value, and also that there was a difference of at least $1,000 between what she believed the value to be and its true value.
C)   Megan is entitled to ownership of the ring only if a jury determines that she was not negligent in failing to recognize its value.
D)   Megan is not entitled to ownership of the ring because she admitted that there was at least some chance (one in a billion)  that it was a genuine diamond.
E)   Being ignorant of the value of the ring does not entitle Megan to ownership of it.F) A) and E)
G) A) and D)

Question 3

There are four elements necessary for a gift: delivery, donative intent, acceptance, and monetary valuation.

Accepted Answer

A) True 
 B)False

Question 4

A bailment of personal property is a relationship that arises when one party, the ________, transfers possession of personalty to another, the ________, to be used by the bailee in an agreed-on manner for an agreed-on time period.

Accepted Answer

A)   giver; taker
B)   posseor; posesee.
C)   donor; holder
D)   bailor; bailee
E)   donor; doneeF) A) and B)
G) A) and E)

Question 5

Which of the following terms describes a set of rights and interests in relation to others with reference to a tangible or intangible object?

Accepted Answer

A)   Interests
B)   Property
C)   Transfers
D)   Business
E)   CommerceF) A) and B)
G) B) and C)

Question 6

Which of the following statements is true regarding the nature of bailments?

Accepted Answer

A)   Bailments may be express but not implied.
B)   Bailments may be implied but not express.
C)   Bailments may be implied or express.
D)   Bailments that are not express may be enforced as implied bailments only if a gratuitous bailment is involved.
E)   Bailments that are not express may be enforced as implied bailments only if a mutual benefit bailment is involved.F) A) and E)
G) B) and E)

Question 7

[Heartache Hotel] Steve owns the Heartache Hotel, which is located in a trendy neighborhood in a major city. Because of the proximity of the hotel to a high-end retail shopping district, Steve provides a small hotel safe for guests to use to store valuables. At check-in, all guests receive a printed notice of the availability of the safe, which includes a printed disclaimer that explains that if a guest fails to take advantage of the safe, according to state law the hotel will not be liable for lost valuables. Further, because of its proximity to public transportation and multiple public parking facilities, the hotel does not provide parking facilities for its guests. Jason and Lisa book a room at the Heartache Hotel after a long day of shopping. They have a valuable 50" television in the trunk of their car, which is parked at a public garage next to, but not affiliated with or recommended by, the hotel. They also have about $10,000 worth of jewelry, which they bring into the hotel. At check-in, they are handed the notice about the hotel safe, but after reading it, Lisa decides to just hide the jewelry in the bottom of her suitcase. While Lisa and Jason are having a drink at the hotel bar, a thief breaks into their room and steals the jewelry. During the night, the television is also stolen from the trunk of their car. When Lisa and Jason discover their valuables are missing, they sue the hotel for negligence for the value of the stolen jewelry and television.
-Will the hotel be held liable for the value of the stolen jewelry?

Accepted Answer

A)   No, because a hotel has no obligation to safeguard its guests' valuables.
B)   No, because Lisa was clearly notified of the existence of the hotel safe and chose not to take advantage of it.
C)   No, because Lisa and Jason were lodgers, not guests.
D)   Yes, because a hotel is strictly liable for the safekeeping of the property of its guests.
E)   Yes, because the jewelry was valued at over $5,000.F) B) and E)
G) A) and B)

Question 8

Ownership of property is referred to as "title".

Accepted Answer

A) True 
 B)False

Question 9

In the Case Opener, Sellers v. United States is discussed to illustrate the example of a potential for bailment relationships between prison inmates and prison authorities. What was the Seventh Circuit's main holding in this case?

Accepted Answer

A)   The court ruled that inmates forfeit all property rights - including the right to enter into a bailment agreement - upon entry to prison.
B)   The court ruled that while inmates have limited property rights, an inmates do not have the right to expect a prison guard to safeguard their belongings.
C)   The court held that although inmates cannot enter into bailment agreements, prison guards have a duty to reasonably secure inmates' belongings, including locking inmates' cells when they are unoccupied.
D)   The court held that once a prisoner establishes a bailment relationship with a prison guard, if that property is lost or stolen, the government can be held liable for conversion of the property that was subject to the bailment.
E)   The court held that because there are restrictions placed on what property inmates can possess in prison, prison officials are immune from litigation if an inmate's property is lost or stolen.F) A) and E)
G) C) and D)

Question 10

In the "Case Nugget," Ziva Jewelry Inc., v. Car Wash Headquarters Inc., the plaintiff left his car and keys with a car wash employee and a thief drove off with the car, abandoning it unharmed after stealing jewelry valued at over $800,000 from the car's trunk. What was the final holding of the court in this case?

Accepted Answer

A)   That the car wash was liable to the plaintiff because the car wash accepted responsibility as a bailee.
B)   That the car wash was not liable to the plaintiff because the car wash employees had no notice they were taking responsibility for the jewelry.
C)   That the car wash and the plaintiff would be required to split the loss.
D)   That the car wash was liable to the plaintiff for the loss because the car wash had not issued a valid disclaimer.
E)   That it would be unconscionable to hold the car wash liable for the loss.F) B) and C)
G) All of the above

Question 11

In the "Case Nugget", Ziva Jeweler, Inc. v. Car Wash Headquarters, Inc., what was the decision rendered by the Supreme Court of Alabama, as related to the plaintiffs assertion that the carwash employees failed to safeguard jewelry in the trunk of a vehicle that was being cleaned?

Accepted Answer

A)   The carwash was held liable for the stolen jewelry inside the trunk of the vehicle.
B)   There was no evidence that the car wash knew or should have reasonably foreseen that it was taking responsibility for over $850,000 worth of jewelry.
C)   The Supreme Court overturned the prior decision that the bailee was responsible for the loss of contents.
D)   The carwash was held liable for both the stolen vehicle and the contents in the vehicle.
E)   Since bailment had been established, as ruled by the trial court, the carwash was fully liable for the stolen jewelry.F) B) and D)
G) A) and E)

Question 12

A person becomes the owner of abandoned property by finding and possessing it.

Accepted Answer

A) True 
 B)False

Question 13

________ are treated like real property.

Accepted Answer

A)   Fixtures
B)   Personal property
C)   Supplemental property
D)   Animals
E)   Bank accountsF) A) and C)
G) A) and D)

Question 14

When property that is subject to a bailment is damaged due to an "act of God," which of the following is true?

Accepted Answer

A)   The bailee is liable for harm to the bailed property arising out of the bailee's ordinary or gross negligence.
B)   The bailee is liable for harm to the bailed property arising only out of the bailee's gross negligence.
C)   The bailee is liable for harm to the bailed property caused by even the slightest lack of due care on the part of the bailee.
D)   The bailee is strictly liable for harm to the bailed property.
E)   The bailee is not liable for harm to the bailed property.F) A) and E)
G) C) and D)

Question 15

Waldon is walking out of class and his backpack is open. His calculator dropped out of his backpack. What type of property is this if Ilian finds it?

Accepted Answer

A)   Lost property
B)   Mislaid property
C)   Disregarded property
D)   Abandoned property
E)   Unintentional propertyF) C) and D)
G) B) and E)

Question 16

Gifts are causa mortis if they are given in contemplation of one's immediate death.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements is true regarding lost property?

Accepted Answer

A)   In most states, the finder of lost property has title against all others, including the person who lost the property.
B)   In most states, the finder of lost property has title against all others except the person who lost the property.
C)   In most states, the finder of lost property has no title against others and must turn over the property to the police department for later sale if the true owner cannot be located.
D)   In all states, the finder of property has an obligation to put a notice in the local paper looking for the true owner attempting to claim ownership.
E)   In most states, the finder of lost property has against all others except the person who lost the property, but that right only arises if the finder of the property can establish that she spent an amount of at least one-fifth of the fair market value of the property attempting to locate the owner.F) C) and D)
G) B) and E)

Question 18

In a bailment situation, the person who receives transfer of possession of property is the ________.

Accepted Answer

A)   Transferor
B)   Transferee
C)   Novator
D)   Bailor
E)   BaileeF) All of the above
G) B) and E)

Question 19

What are the rights of a bailor?

Accepted Answer

1. Right to expect that the bailee take ...

Question 20

A ________ of personal property is a relationship that arises when one party transfers possession of personality to another to be used in an agreed-upon manner for an agreed-upon time period.

Accepted Answer

A)   Bailment
B)   Transfer
C)   Loan
D)   Release
E)   LeaseF) D) and E)
G) None of the above

Exam 48: The Nature of Property, Personal Property, and Bailments

Ownership of property is referred to as "title".

Correct Answer
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________ are treated like real property.

Correct Answer
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Which of the following terms describes a set of rights and interests in relation to others with reference to a tangible or intangible object?

Correct Answer
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A ________ of personal property is a relationship that arises when one party transfers possession of personality to another to be used in an agreed-upon manner for an agreed-upon time period.

Correct Answer
verified

Correct Answer
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Which of the following statements is true regarding the nature of bailments?

Correct Answer
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When property that is subject to a bailment is damaged due to an "act of God," which of the following is true?

Correct Answer
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________ is property that can be identified by the senses; it can be seen or touched.

Correct Answer
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Correct Answer
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Correct Answer
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A person becomes the owner of abandoned property by finding and possessing it.

Correct Answer
verified

What are the rights of a bailor?

Correct Answer
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1. Right to expect that the bailee take ...
View Answer

Which of the following statements is true regarding lost property?

Correct Answer
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A bailment of personal property is a relationship that arises when one party, the , transfers possession of personalty to another, the , to be used by the bailee in an agreed-on manner for an agreed-on time period.

Correct Answer
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In the "Case Nugget", Ziva Jeweler, Inc. v. Car Wash Headquarters, Inc., what was the decision rendered by the Supreme Court of Alabama, as related to the plaintiffs assertion that the carwash employees failed to safeguard jewelry in the trunk of a vehicle that was being cleaned?

Correct Answer
verified

In the Case Opener, Sellers v. United States is discussed to illustrate the example of a potential for bailment relationships between prison inmates and prison authorities. What was the Seventh Circuit's main holding in this case?

Correct Answer
verified

Gifts are causa mortis if they are given in contemplation of one's immediate death.

Correct Answer
verified

There are four elements necessary for a gift: delivery, donative intent, acceptance, and monetary valuation.

Correct Answer
verified

Waldon is walking out of class and his backpack is open. His calculator dropped out of his backpack. What type of property is this if Ilian finds it?

Correct Answer
verified

In a bailment situation, the person who receives transfer of possession of property is the ________.

Correct Answer
verified

Exam 48: The Nature of Property, Personal Property, and Bailments

Ownership of property is referred to as "title".

Correct AnswerverifiedShow Answer

________ are treated like real property.

Correct AnswerverifiedShow Answer

Which of the following terms describes a set of rights and interests in relation to others with reference to a tangible or intangible object?

Correct AnswerverifiedShow Answer

A ________ of personal property is a relationship that arises when one party transfers possession of personality to another to be used in an agreed-upon manner for an agreed-upon time period.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements is true regarding the nature of bailments?

Correct AnswerverifiedShow Answer

When property that is subject to a bailment is damaged due to an "act of God," which of the following is true?

Correct AnswerverifiedShow Answer

________ is property that can be identified by the senses; it can be seen or touched.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A person becomes the owner of abandoned property by finding and possessing it.

Correct AnswerverifiedShow Answer

What are the rights of a bailor?

Correct Answerverified1. Right to expect that the bailee take ...View AnswerShow Answer

Which of the following statements is true regarding lost property?

Correct AnswerverifiedShow Answer

A bailment of personal property is a relationship that arises when one party, the ________, transfers possession of personalty to another, the ________, to be used by the bailee in an agreed-on manner for an agreed-on time period.

Correct AnswerverifiedShow Answer

In the "Case Nugget", Ziva Jeweler, Inc. v. Car Wash Headquarters, Inc., what was the decision rendered by the Supreme Court of Alabama, as related to the plaintiffs assertion that the carwash employees failed to safeguard jewelry in the trunk of a vehicle that was being cleaned?

Correct AnswerverifiedShow Answer

In the Case Opener, Sellers v. United States is discussed to illustrate the example of a potential for bailment relationships between prison inmates and prison authorities. What was the Seventh Circuit's main holding in this case?

Correct AnswerverifiedShow Answer

Gifts are causa mortis if they are given in contemplation of one's immediate death.

Correct AnswerverifiedShow Answer

There are four elements necessary for a gift: delivery, donative intent, acceptance, and monetary valuation.

Correct AnswerverifiedShow Answer

Waldon is walking out of class and his backpack is open. His calculator dropped out of his backpack. What type of property is this if Ilian finds it?

Correct AnswerverifiedShow Answer

In a bailment situation, the person who receives transfer of possession of property is the ________.

Correct AnswerverifiedShow Answer

Correct Answer
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1. Right to expect that the bailee take ...
View Answer

Correct Answer
verified

A bailment of personal property is a relationship that arises when one party, the , transfers possession of personalty to another, the , to be used by the bailee in an agreed-on manner for an agreed-on time period.

Correct Answer
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Correct Answer
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