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Personal Property and Bailments - 1

Page history last edited by abogado 12 years, 1 month ago

Law 19 Quizzes 


Chapter 47 - Personal Property Quiz - 1
1.      Helen owns heavy construction equipment and the tools to service it, as well as office furniture, including computers. Ilya owns a number of pat­ents, trademarks that identify the products made under those patents, and stock in the company that sells those products. Personal property in­cludes the items owned by

a.         Helen and Ilya.
b.         Helen only.
c.         Ilya only.
d.         neither Helen nor Ilya.

2.      Faye owns the land on which Golden Spurs Ranch is situated, plus the ranch house, barn, and other structures permanently attached to the land. Faye’s brother Huey owns everything else in the ranch’s opera­tion—livestock, feed, and so on. The personal property is owned by

a.         Faye and Huey.
b.         Faye only.
c.         Golden Spurs Ranch.
d.         Huey only.

3.      Chita owns the land on which Downwind Farm is situated, plus the farmhouse, barn, and other structures permanently attached to the land. Chita’s brother Elmo owns everything else on the farm—implements, seed, and so on. The real property is owned by

a.         Chita and Elmo.
b.         Chita only.
c.         Downwind Farm.
d.         Elmo only.

4.      With Meg’s permission, Nell cuts the trees growing on Meg’s land. Nell sells the timber to Olin, who converts it to a variety of wood products. Personal property includes

a.         after the trees are cut, the timber and the wood products.
b.         only, after the trees are cut and sold, the wood products,
c.         only, after the trees are cut, the timber.
d.         only the trees while they are growing on the land.

5.      Baksheesh owns a house. In the house, on a tile floor is a throw rug. Most likely to meet the definition of a fixture is

a.         the house.
b.         the throw rug.
c.         the tile floor.
d.         none of these choices.

6.      Luna leases a commercial building to operate Mom’s Diner. During the term of the lease, Luna installs a new roof and a walk-in cooler, and repaves the parking lot. Most likely to meet the definition of a trade fix­ture is

a.         the cooler.
b.         the parking lot.
c.         the roof.
d.         none of these choices.

7.      Fanny buys clay to throw pottery, which is glazed and fired in a kiln. The finished products are sold to Gifte Shoppe, which sells these items and others to customers who often present them as gifts. The most common way to acquire personal property is to
 
a.         buy it.
b.         commingle it.
c.         produce it.
d.         receive it as a gift.

8.      Lauren owns a 1967 Ford Mustang, which Mike customizes and details to Lauren’s specifications. The car earns several awards at regional ve­hicle customizing competition shows. The result of Mike’s efforts is

a.         accession.
b.         acquisition
c.         conversion
d.         resolution.

9.      Nero and Olav each buy certain quantities of oil to sell to Petro Refinery, and agree to share storage costs until Petro can take delivery. The oil is commingled so that Nero’s oil cannot be distinguished from Olav’s. This is

a.         accession.
b.         confusion.
c.         conversion.
d.         irresolution.
 
10.      Patty’s parents give her a car as a gradua­tion present. While Patty spends the sum­mer in Europe, her friend Rita agrees to keep the car in her ga­rage. On Patty’s part, this is acquisition of property by

a.         bailment.
b.         capture.
c.         find.
d.         gift.

11.      Ruth gives Seth a computer as a gift. Using the computer, Seth develops a new game, for which he obtains intellectual property protection, and forms Top Games, Inc., to make and market the game. Seth’s ac­quisition of the game is by

a.         a bailment.
b.         accession.
c.         confusion.
d.         production.

12.      Ira is declared mentally incompetent. Jay, Ira’s son, is named his guard­ian. At Jay’s insistence, Ira transfers his assets to Jay “for safekeeping.” A court might conclude that this gift is not effective on the ground that there was no

a.         acceptance.
b.         delivery.
c.         donative intent.
d.         donor’s acknowledgment.
 
13.      Ansel owns Bar-B Ranch. Ansel’s only son Cy owns Double-D Ranch in the same county. Ansel gives 90 percent of the Bar-B to Etta, a short-term employee. This gift

a.         may lack the required element of “donative intent.”
b.         may lack the required element of “donor’s acknowledgement.”
c.         may lack the required element of “heir’s acquiescence.”
d.         meets all of the requirements for an effective gift.

14.      Clancy sells shares in Darling Pool & Spa Company to Eton. Clancy does not deliver the actual possession of the shares to Eton, but gives him the key to a safety-deposit box in First State Bank in which the stock certifi­cates are locked. Presenting the key is

a.         constrictive delivery.
b.         constructive delivery
c.         destractive delivery.
d.         destructive delivery.

15.      According to the court in the case of In re Estate of Piper, the elements of a legally valid inter vivos gift include all of the following except

a.         the donor’s present intention to make a gift.
b.         effective delivery of the property to the donee.
c.         acceptance by the donee.
d.         a written instrument excluding the property from the donor’s will.

16.      During the last years of her life, Barb’s chief companion was Sylvia. Barb told Sylvia that she could have a certain painting when Barb died.  Barb died without a valid will. Her family refused to give the painting to Sylvia, however, who filed a suit to obtain its possession.  Based on the de­cision in Case 47.1, In re Estate of Piper, the court will most likely rule in favor of

a.         Barb’s family, because the painting was never delivered to Sylvia.
b.         Sylvia, because Barb intended to give the painting to Sylvia.
c.         Barb’s family, because there was no will.
d.         Sylvia, because Barb’s family never cared about Barbara.

17.      Floyd tells his daughter Glenda that she can have his Harley Davidson when he dies, but he does not add this to his will. This is

a.         a valid gift causa mortis.
b.         a valid gift inter vivos.
c.         a valid gift testamentary.
d.         not a valid gift.

18.      John steals an old, battered bicycle that is parked, unlocked, in front of a convenience store. He repairs, paints, and replac­es parts on the bike un­til it is like new. The original owner, Kim, claims the bike. The bike be­longs to

a.         John and Kim as tenants in common.
b.         John because he made substantial improvements to it.
c.         John because Kim claimed it only after John improved it.
d.         Kim because John stole it.

19.    Before undergoing sur­gery that could cause paralysis, Greg, a violinist, gives his concert violin to Holly. The surgery is successful, and Greg suf­fers no pa­ralysis. Greg can

a.         not revoke his gift because it was a gift causa mortis.
b.         not revoke his gift because it was a gift inter vivos.
c.         revoke his gift because it was a gift causa mortis.
d.         revoke his gift because it was a gift inter vivos.

20.    Grain from Harvest Farms is wrongfully commingled with grain from Idyllic Fields, which obtains possession of all of the grain. This is

a.         a bailment.
b.         accession.
c.         confusion.
d.         production.

 

 

 

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