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Exam 41: Personal Property and Bailments

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Question 21

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The distinction between real and personal property is important because how property is acquired is determined by its classification.

A) True
B) False

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Question 22

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The gift of a large portion of a person's assets can indicate fraud.

A) True
B) False

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Question 23

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The delivery of documents that represent the rights to property can be sufficient to transfer that property to the recipient.

Personal property can be converted into real property by being permanently attached to it.

After agreeing to rent a car from Drive-a-Round Inc., Eden is given the keys to one of the agency's cars by Fess, a Drive-a-Round employee. With respect to the bailed property, this is

On the completion of a bailment, the bailee may dispose of the property at will.

If confusion of property occurs as a result of the act of some third party, the owners of the goods share ownership in order of seniority.

Estray statutes encourage the return of found property to its owner by making it possible for the finder to acquire title to it.

The law protects a person's rights and interests in anything with an ascertainable value that is subject to ownership.

Sheila finds Tim's briefcase in her office after Tim leaves following their meeting. This is

Gene leaves her Honda Fit with In-Town Motors for routine maintenance. On its return, the interior of the car is greasy and the exterior is scratched and dented. Who suffers the loss and why?

In a bailment for the mutual benefit of the bailee and the bailor, the bailee need not exercise reasonable care in storing items or holding property.

Inadvertently, Brie loses her textbook during an afternoon in City Park. She eventually gives up any attempt to find it. The textbook will then most likely be considered

Buto buys a bus ticket at a window in the City Bus Depot before checking his backpack and boarding a bus. In this situation, the subject to a bailment is

Arnold wants to give Beth a pearl necklace that he has in his safe deposit box at Capital Bank. The bank is closed for a holiday. Arnold gives Beth a key to the box and tells her to go to the bank after the holiday and take the necklace. Beth does this. The next day, Arnold dies unexpectedly. His heirs want the necklace. Can Beth keep the necklace? Explain.

Sara owns a ring. She asks Tomas, a jeweler, to add a diamond to it. Adding the diamond will increase the value of the ring. This is

Before entering the dining room in Café Peru, Diego checks his coat in the lobby with a valet employed by the restaurant. In the coat's pocket is an iPhone. A bailment may exist between the restaurant and its customer for

Robin stores her grain at a facility owned and operated by Silo Inc. At the end of the storage period, Silo must

Ogle owns a phone, a tablet, and a patent on an app. Ogle's intangible property includes

The identify of the party who receives a benefit from an ordinary bailment dictates