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