Question 1

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

Accepted Answer

A)  leasings.
B)  statutes of limitations.
C)  estray statutes.
D)  exculpatory clauses.

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Why is a conditional gift considered to be an incomplete gift?

Accepted Answer

A)  It may be revoked by the donor.
B)  It involves money transactions.
C)  The donee may refuse the gift.
D)  The donor is liable to the donee in the future.

Question 4

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

Accepted Answer

A)  Conversion
B)  Bailment
C)  Inheritance
D)  Lease

Question 5

In Lindh v.Surman,the case in the text,the majority of the court:

Accepted Answer

A)  held that Lindh was entitled to the ring because his reasons for breaking off the engagement were objectively reasonable under the circumstances presented.
B)  held that Surman was entitled to keep the ring because Lindh,without a justifiable excuse,broke off the engagement for the second time.
C)  adopted a fault approach to the resolution of engagement ring disputes.
D)  adopted a no-fault approach to the resolution of engagement ring disputes.

Question 6

Watley took his old bicycle to the municipal dump.Vandelay retrieved it from the dump and repaired it.Newman stole the bicycle from Vandelay's garage,made substantial improvements to it,and then sold it to Banya.Banya did not know that the bicycle had been stolen.Who owns the bicycle? Explain your reasoning.

Accepted Answer

Vandelay owns the bicycle.He acquired ow...

Question 7

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?

Accepted Answer

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.

Question 8

In the case in the text,Weissman v.City of New York,the court held that the exculpatory clause:

Accepted Answer

A)  was enforceable even though it was offered on a take-it-or-leave-it basis.
B)  was enforceable because both parties were aware of its terms and agreed to it.
C)  was too vague to shield a bailor from liability for its negligence.
D)  was unenforceable because the court found it to be unconscionable.

Question 9

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

Accepted Answer

A)  Confusion
B)  Accession
C)  Conversion
D)  Bailment

Question 10

Tangible property is property that has a physical existence;for example,a car or a computer is tangible property.

Accepted Answer

A) True 
 B)False

Exam 23: Personal Property and Bailments

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?

Correct Answer
verified

In the case in the text,Weissman v.City of New York,the court held that the exculpatory clause:

Correct Answer
verified

Correct Answer
verified
Vandelay owns the bicycle.He acquired ow...
View Answer

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

Correct Answer
verified

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

Correct Answer
verified

Tangible property is property that has a physical existence;for example,a car or a computer is tangible property.

Correct Answer
verified

In Lindh v.Surman,the case in the text,the majority of the court:

Correct Answer
verified

Why is a conditional gift considered to be an incomplete gift?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Exam 23: Personal Property and Bailments

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?

Correct AnswerverifiedShow Answer

In the case in the text,Weissman v.City of New York,the court held that the exculpatory clause:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedVandelay owns the bicycle.He acquired ow...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Tangible property is property that has a physical existence;for example,a car or a computer is tangible property.

Correct AnswerverifiedShow Answer

In Lindh v.Surman,the case in the text,the majority of the court:

Correct AnswerverifiedShow Answer

Why is a conditional gift considered to be an incomplete gift?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Vandelay owns the bicycle.He acquired ow...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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