Question 1

Gil has stolen a "Lancer" from Yu and changed the look and interior of the car. Gil is now using it for his personal purposes. After some months, Yu comes to know about his car and demands it back. However, Gil demands for the amount he spent on modifications. Can he recover it from Gil? Is Yu liable to pay that?

Accepted Answer

No. Yu is not liable to pay the amount w...

Question 2

A gift causa mortis is a gift made in:

Accepted Answer

A)   case of a birth.
B)   anticipation of birth.
C)   fear of death.
D)   contemplation of death.E) A) and C)
F) A) and B)

Question 3

What level of care must a bailee exercise in a bailment for his own exclusive benefit?

Accepted Answer

A)   Greater than ordinary care
B)   Less than ordinary care
C)   Ordinary care
D)   The same level of care that a prudent person exercises over his/her own propertyE) A) and C)
F) B) and C)

Question 4

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

Question 5

Which of the following characterizes a warehouseman?

Accepted Answer

A)   He is a bailor of the stored goods.
B)   He does not have a lien against the bailee of the stored goods.
C)   He need not exercise care for the stored goods, as it is the bailee's responsibility to do so.
D)   He can terminate the contract if the goods are about to deteriorate.E) A) and C)
F) B) and D) D

Question 6

In order to create a bailment, the bailor and bailee need not agree in writing to the existence of the bailment.

Accepted Answer

A) True 
 B)False

Question 7

Real property cannot be turned into personal property.

Accepted Answer

A) True 
 B)False

Question 8

Rachel was jogging when she slipped and fell on the jogging track and her diamond bracelet fell off her hand. She got up and 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.E) A) and D)
F) A) and C) A

Question 9

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

Accepted Answer

A)   Claiming abandoned property
B)   Producing the property
C)   Inheriting the property
D)   Discovering the propertyE) B) and C)
F) None of the above

Question 10

If the bailee returns the goods in a damaged condition, there is a rebuttable presumption of negligence on the part of the bailee.

Accepted Answer

A) True 
 B)False

Question 11

While eating dinner at a restaurant, Elvis placed his backpack on an empty chair located next to his table. When Elvis left the restaurant, he forgot to pick up the backpack. A few minutes later, Priscilla discovered the backpack and took possession of it. What rights to the backpack do Elvis, Priscilla, and the restaurant have?

Accepted Answer

This question involves mislaid property....

Question 12

Property can be transferred by a will, if it is validly executed.

Accepted Answer

A) True 
 B)False

Question 13

A gift inter vivos is a gift:

Accepted Answer

A)   made in contemplation of death.
B)   between two living persons.
C)   between a deceased person and a living one.
D)   made in consideration for money.E) A) and C)
F) None of the above

Question 14

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

Accepted Answer

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 huge mansion according to his late grandfather's will.
D)   A charity home receives a huge grant from its dead benefactor's trust.E) B) and D)
F) None of the above

Question 15

Common carriers are not permitted to limit their liability for damage to bailed goods.

Accepted Answer

A) True 
 B)False

Question 16

What is the best possible solution for a bailee if there is a third-party, who claims to have superior rights to those of the bailor for possession of the bailed property?

Accepted Answer

A)   He should give the bailed property to the third-party.
B)   He should give the bailed property to the bailor.
C)   He should bring the third-party claimant into a lawsuit along with the bailor.
D)   In such a case, the bailee will always get possession of the bailed property.E) A) and B)
F) B) and D)

Question 17

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?

Accepted Answer

A)   Lost property
B)   Mislaid property
C)   Abandoned property
D)   Bailment propertyE) B) and C)
F) A) and C)

Question 18

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 (the bicycle), 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 ownership when he retrieved it from the dump, where Watley had abandoned it. As a thief, Newman cannot acquire ownership of the property, even by making improvements to it. A thief cannot transfer ownership, even to a good-faith purchaser such as Banya.

Question 19

Karen parked her car in a parking lot. She paid the $2 fee and left for several hours. She kept her keys and had access to her car during that time. When Karen returned, she saw that her car had been damaged. Has a bailment been created here?

Accepted Answer

A)   This is a bailment, because Karen paid a fee to park in the lot.
B)   This is a bailment, because the car is a personal property.
C)   This is not a bailment, because there was no transfer of exclusive possession to a bailee.
D)   This is not a bailment, because there is no contract here.E) A) and B)
F) All of the above

Question 20

Which of these is an essential element of a bailment?

Accepted Answer

A)   The bailee has no responsibility for the bailed property.
B)   There has to be a written agreement between the two parties.
C)   The bailee is allowed to make changes to the bailed property.
D)   The bailor owns personal property or holds the right to possess it.E) A) and C)
F) None of the above

Exam 23: Personal Property and Bailments

Correct Answer
verified
No. Yu is not liable to pay the amount w...
View Answer

A gift causa mortis is a gift made in:

Correct Answer
verified

What level of care must a bailee exercise in a bailment for his own exclusive benefit?

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

Which of the following characterizes a warehouseman?

Correct Answer
verified
D

In order to create a bailment, the bailor and bailee need not agree in writing to the existence of the bailment.

Correct Answer
verified

Real property cannot be turned into personal property.

Correct Answer
verified

Rachel was jogging when she slipped and fell on the jogging track and her diamond bracelet fell off her hand. She got up and 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
A

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

Correct Answer
verified

If the bailee returns the goods in a damaged condition, there is a rebuttable presumption of negligence on the part of the bailee.

Correct Answer
verified

Correct Answer
verified
This question involves mislaid property....
View Answer

Property can be transferred by a will, if it is validly executed.

Correct Answer
verified

A gift inter vivos is a gift:

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

Correct Answer
verified

Common carriers are not permitted to limit their liability for damage to bailed goods.

Correct Answer
verified

What is the best possible solution for a bailee if there is a third-party, who claims to have superior rights to those of the bailor for possession of the bailed property?

Correct Answer
verified

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?

Correct Answer
verified

Karen parked her car in a parking lot. She paid the $2 fee and left for several hours. She kept her keys and had access to her car during that time. When Karen returned, she saw that her car had been damaged. Has a bailment been created here?

Correct Answer
verified

Which of these is an essential element of a bailment?

Correct Answer
verified

Exam 23: Personal Property and Bailments

Correct AnswerverifiedNo. Yu is not liable to pay the amount w...View AnswerShow Answer

A gift causa mortis is a gift made in:

Correct AnswerverifiedShow Answer

What level of care must a bailee exercise in a bailment for his own exclusive benefit?

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

Which of the following characterizes a warehouseman?

Correct AnswerverifiedD

In order to create a bailment, the bailor and bailee need not agree in writing to the existence of the bailment.

Correct AnswerverifiedShow Answer

Real property cannot be turned into personal property.

Correct AnswerverifiedShow Answer

Rachel was jogging when she slipped and fell on the jogging track and her diamond bracelet fell off her hand. She got up and 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 AnswerverifiedA

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

Correct AnswerverifiedShow Answer

If the bailee returns the goods in a damaged condition, there is a rebuttable presumption of negligence on the part of the bailee.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThis question involves mislaid property....View AnswerShow Answer

Property can be transferred by a will, if it is validly executed.

Correct AnswerverifiedShow Answer

A gift inter vivos is a gift:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Common carriers are not permitted to limit their liability for damage to bailed goods.

Correct AnswerverifiedShow Answer

What is the best possible solution for a bailee if there is a third-party, who claims to have superior rights to those of the bailor for possession of the bailed property?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Karen parked her car in a parking lot. She paid the $2 fee and left for several hours. She kept her keys and had access to her car during that time. When Karen returned, she saw that her car had been damaged. Has a bailment been created here?

Correct AnswerverifiedShow Answer

Which of these is an essential element of a bailment?

Correct AnswerverifiedShow Answer

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verified
No. Yu is not liable to pay the amount w...
View Answer

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D

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A

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This question involves mislaid property....
View Answer

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