BLAW Chapter 41 Exam 2
lost property
property that is involuntary left by the owner. The finder can claim title against the whole world except the true owner
mislaid property
property that the owner has voluntarily placed somewhere, and then inadvertently forgotten. The finder does not obtain title to it
extraordinary
a business is likely to engage in some special types of bailment transactions in which the business's duty of care is ___. examines: common carriers, warehouse companies, hotel operators
abandoned property
property that has been discarded by the owner, who has no intention of reclaiming it. The finder can claim title to it against the whole world including the true owner
B) mislaid
property that has been voluntarily placed somewhere by the owner and then inadvertently forgotten is: A) lost B) mislaid C) treasure trove D) abandoned
C) return of property on time and in good condition
the duties of a bailee include: A) repairing existing defects in the property B) creating a written contract for the bailment C) return of property on time and in good condition D) paying the bailor for the use of his property
types of ordinary bailments
1. Bailment for the sole benefit of the bailor 2. Bailment for the sole benefit of the bailee 3. Bailment for the mutual benefit of the bailee and the bailor
rights of the bailee
1. Right of possession 2. Right to use bailed property 3. Right of compensation 4. Right to limited liability
duties of the bailee
1. To take appropriate care of the property 2. To surrender the property to the bailor or dispose of it in accordance with the bailor's instructions at the end of the bailment
required elements for a gift to be effective
1. donative intent on part of the donor 2. delivery 3. acceptance by the donee
elements of a bailment
1. personal property 2. delivery of possession without title 3. agreement that the property will be returned/discarded
A) the giver must intend to make a gift B) the donee (one receiving the gift) must accept the gift D) the gift must be delivered
Which of the following are requirements for a valid gift? choose 3 answers A) the giver must intend to make a gift B) the donee (one receiving the gift) must accept the gift C) the gift must have value D) the gift must be delivered
production
___, the fruits of labor, is another means of acquiring personal property ownership
expressed, implied
a bailment agreement can be ___ or ___
constructive/involuntary bailment
a bailment created even though the bailor did not voluntarily deliver the property to the bailee
warranty liability
a bailor can incur ___ based on contract law for injuries resulting from the bailment of defective articles
recovers, dies
a gift causa mortis is automatically revoked if the donor ___ or the donee ___
gift inter vivos
a gift made during one's lifetime and not in contemplation of imminent death
gift causa mortis
a gift made in contemplation of imminent death; the gift is revoked if the donor does not die as planned.
control, dominion
an effective delivery also requires giving up complete ___ and ___ over the subject matter of the gift
hotel operators
at common law, ___ were strictly liable for the loss of any cash or property that the guests brought into their rooms. This can be avoided by providing a safe
property
consists of the legally protected rights and interests a person has in anything with an ascertainable value that is subject to ownership
physical, constructive
either ___ or ___ delivery will result in a bailee's exclusive possession/control over the property
bailment
formed by the delivery of personal property without transfer of title by one person to another
negligent
if bailed property has been lost or is returned damaged, a court will presume that the bailee was ___
real property
land and everything permanently attached to it, such as trees and buildings
possession production gifts
personal property can be acquired through:
fixture
personal property that is affixed to real property in a permanent way, such as a tile installed in a house
personal property
property that is moveable, any property that is not real property
possessing it
sometimes, a person can become the owner of personal property merely by ___
accession
the addition of value to personal property by the use of labor or materials
A) ability to be moved
the attribute that distinguishes personal property from real property is: A) ability to be moved B) tangibility C) ownership by an individual rather than a business D) value
duty of care
the bailee must exercise reasonable care in preserving the bailed property
reveal defects
the bailors duty to ___ translates into two rules 1. in a mutual-benefit bailment, the bailor must notify the bailee of all known defects and any hidden defects they know of 2. in a bailment for the sole benefit of the bailee, the bailor must notify the bailee of any known defects
taxation acquisition
the distinction between real and personal property is important because of ___ and ___
A) return of the property in good condition
the rights of a bailor include: A) return of the property in good condition B) extension of the due date upon request C) getting paid for the use of goods D) a written contract to create the bailment
A) sale, gift, possession, or production
title to personal property may be transferred through: A) sale, gift, possession, or production B) theft, gift, possession, or sale C) sale, gift, conversion, or extension D) lease, sale, gift, or conversion
donative intent
when a gift is challenged in court, the court will determine whether ___ exists by looking at the language of the donor and the surrounding circumstances
constructive delivery
a symbolic delivery of property that cannot be physically delivered, especially with intangible property
gift
a voluntary transfer of property made without consideration, past or present
reasonable
in a bailment for mutual-benefit, the bailee need exercise ___ care
great
in a bailment for the sole benefit of the bailee, the bailee need exercise ___ care
a slight degree of
in a bailment for the sole benefit of the bailor, the bailee need exercise ___ care
common carriers
publicly licensed to transport goods or passengers on regular routes at set rates. strict liability applies
detaching
real property can be turned into personal property by ___ it from the land
A) movability
real property is distinguished from personal property by its: A) movability B) ownership C) value D) size
real
trees, bushes, and plants growing on land are considered ___ property
B) bailment
when a person rightfully possesses personal property that belongs to someone else without the owner giving up title, it is called: A) conversion B) bailment C) gift inter vivos D) repossession
A) the bailee must assume physical control of the property in order to create a bailment
which statement is true about bailments? A) the bailee must assume physical control of the property in order to create a bailment B) the bailor must remain responsible for damage to the property during the bailment C) both parties must consent to the bailment D) a bailment created with a written agreement is called a constructive bailment
D) gift causa mortis
a person in her last days with a terminal illness tells her friend that he can have her car when she dies. This type of gift is called a: A) gift extra mortis B) gift causa vivos C) gift inter vivos D) gift causa mortis
estray statute
a statute defining finders' rights in property, when the true owners are unknown
bailment agreement
provides for the return of the bailed property to the bailor or to a third person, or for the disposal of the property by the bailee