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

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Question 31

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In order to enforce a right to sell property that is subject to a bailment when the bailor does not pay an agreed upon price, a bailee is given a[n] _____.

A) Bailee's lien
B) Bailor's lien
C) Bailment document
D) Lien document
E) Enforcement lien

F) None of the above
G) C) and D)

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Question 32

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Describe how e-commerce has inspired improvements in Internet postal technology.

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E-businesses can use Internet postal tec...

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Question 33

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Which of the following is property that is initially movable but then becomes attached to land?

Which of the following is true if it is determined that harm befell bailed property due to an "act of God"?

Which of the following is true regarding lost property?

Which of the following is false regarding ways in which people may acquire title to property?

"Disputed Ring." While working in the yard Tina found a beat up ring. Becca, an eighteen-year-old teenager and neighbor, came over to visit and liked the ring. Tina said, "You can have this old thing if you would like." Becca replied, "I really like it - Maybe it's a real diamond!" Tina laughingly told her that there was a one in a billion chance of that and that Tina was more likely to win the lottery. A few months later Becca ran over to Tina's house and told Tina that the ring was actually a diamond worth thousands! Becca gave Tina the ring to examine. Tina put it in her pocket and told Becca 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. Tina also told Becca that Becca failed legally to accept the gift because neither party knew its true value and that because Tina did not sign any document turning over title, it was impossible for legal ownership to pass. Becca sues. -Which of the following is true regarding Tina's statement that she was entitled to the ring because she would not have given it to Becca if she had known the true value?

"Disputed Ring." While working in the yard Tina found a beat up ring. Becca, an eighteen-year-old teenager and neighbor, came over to visit and liked the ring. Tina said, "You can have this old thing if you would like." Becca replied, "I really like it - Maybe it's a real diamond!" Tina laughingly told her that there was a one in a billion chance of that and that Tina was more likely to win the lottery. A few months later Becca ran over to Tina's house and told Tina that the ring was actually a diamond worth thousands! Becca gave Tina the ring to examine. Tina put it in her pocket and told Becca 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. Tina also told Becca that Becca failed legally to accept the gift because neither party knew its true value and that because Tina did not sign any document turning over title, it was impossible for legal ownership to pass. Becca sues. -Which of the following is true regarding Tina's statement that Becca could not have validly accepted the ring?

A promise to make a gift is generally enforceable.

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

Which of the following is true regarding the person to benefit from a bailment?

"Stolen Bicycle." Donnie borrowed the bicycle of his friend Karen. She told him that she was happy for him to use it for free, but she would appreciate him taking good care of it. Donnie said nothing in reply. Although Donnie lived in a high crime neighborhood, he left the bicycle unlocked on his deck. The next morning, he discovered that the bicycle had been stolen. Donnie told Karen that he was very sorry about the bicycle. Karen told him that she expected him to pay for it. Donnie refused on the basis that a thief took the bicycle. Donnie told Karen that he believes he knows the identity of the thief and that since only Karen has the right to sue to recover the property, he has no further responsibility. -Which of the following is true regarding Donnie's statements that he owes Karen nothing and that only Karen has the right to take legal action against the thief?

Which of the following is not a duty of a bailee?

"Stolen Bicycle." Donnie borrowed the bicycle of his friend Karen. She told him that she was happy for him to use it for free, but she would appreciate him taking good care of it. Donnie said nothing in reply. Although Donnie lived in a high crime neighborhood, he left the bicycle unlocked on his deck. The next morning, he discovered that the bicycle had been stolen. Donnie told Karen that he was very sorry about the bicycle. Karen told him that she expected him to pay for it. Donnie refused on the basis that a thief took the bicycle. Donnie told Karen that he believes he knows the identity of the thief and that since only Karen has the right to sue to recover the property, he has no further responsibility. -Which of the following is true regarding Donnie's obligation to Karen?

When property is sold pursuant to a bailee's lien, the proceeds are first used to pay the bailee and to cover the costs of the sale, and then remaining proceeds go to the bailor.

"Disputed Ring." While working in the yard Tina found a beat up ring. Becca, an eighteen-year-old teenager and neighbor, came over to visit and liked the ring. Tina said, "You can have this old thing if you would like." Becca replied, "I really like it - Maybe it's a real diamond!" Tina laughingly told her that there was a one in a billion chance of that and that Tina was more likely to win the lottery. A few months later Becca ran over to Tina's house and told Tina that the ring was actually a diamond worth thousands! Becca gave Tina the ring to examine. Tina put it in her pocket and told Becca 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. Tina also told Becca that Becca failed legally to accept the gift because neither party knew its true value and that because Tina did not sign any document turning over title, it was impossible for legal ownership to pass. Becca sues. -Which of the following describes the type of gift, if any, at issue?

Which of the following is a term for gifts made during someone's lifetime, not in contemplation of death?

"Lottery Winnings." Frank, a hypochondriac who was also very compulsive, was having minor surgery to repair a bone spur on his foot. He had just purchased a lottery ticket for a chance at the grand prize of $30,000,000. He always kept lists of the numbers of his lottery tickets with him in his billfold. Frank's girlfriend, Bubbles, went with him to the hospital. While in the waiting room, Frank said to her, "Bubbles, I may not make it out of this bone spur surgery. Take my lottery ticket. If I don't make it, I hope you win and live it up; but please don't get another boyfriend." Bubbles replied, "I could never be happy without you." A nurse saw and heard the whole exchange. Frank came out of the surgery just fine but with a sore foot. While he was recuperating that evening, Bubbles watched the lottery drawing and discovered that Frank's ticket was indeed the winning ticket. She immediately moved out and collected the winnings. Frank saw her on television with her new boyfriend, George. She appeared to be very happy. He checked the numbers and discovered that she won off of his ticket. Frank says that the lottery money is his. -Which of the following is true regarding rightful ownership of the lottery money?

Bank accounts, stocks, and insurance policies are examples of which of the following types of property?

Fixtures are treated like ______ property.