BUS 263 35,36,38

Bram applies for a homeowners' insurance policy with Castle Insurance Inc. through Dian, an agent. In this transaction, Dian is

Castle's agent, not Bram's agent

Dino is the beneficiary of a life insurance policy on Erin's life obtained from Fidelity Insurance LLC through Gillian, Fidelity's agent. The insured of this policy is

Erin

James works at Kay's Breakfast Café. After work, in the parking lot, James finds a diamond ring lost by Lani. Title to the ring is possessed by

Lani

Mary goes hunting during elk season. While trespassing on Nate's rural land, she shoots an elk. This elk is the property of

Nate

Nick is the beneficiary of a life insurance policy on Ollie's life obtained from Peoples Insurance Company through Quinn, an insurance broker. The insurer of this policy is

Peoples Insurance

Rob steals a damaged, broken bike that is parked, unlocked, in a bike rack. He repairs, paints, and replaces parts on the bike until it is like new. The original owner, Sue, then claims it. The bike belongs to

Sue because Rod stole it

Kim and Leola own 10,000 shares of stock in My-T Gro Corporation. On the death of either owner, that owner's interest in the stock passes to the surviving owner. This is

a joint tenancy

Sol allows Tiffany to camp on his land for several days and take photos for an upcoming exhibit of landscape photography. Sol has given Tiffany

a license

Carl has an easement that allows him to drive across Dave's land to get to Carl's house. With respect to Dave's land, Carl right is

a nonpossessory interest

Ross applies for a life insurance policy with Secure Insurance Company. The consideration Ross pays to the insurer is

a premium

Adam promises his daughter Bev that she can have his restored 1968 Chevy Corvette when he dies. This is

a promise to make a gift

The deed that contains the most extensive covenants, or promises, against defects of title is

a warranty deed

Inadvertently, Brie loses her textbook during an afternoon in City Park. She eventually gives up any attempt to find it. The textbook will then most likely be considered

abandoned property

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

accession

Insurance protection may compensate for

all of the choices

Jack owns a parcel of land. Jack tows a mobile home to the parcel and anchors it to the land near a stand of Douglas fir trees. Jack's real property consists of

all of the choices

Clark obtains from Dependable Insurance Inc. a policy that provides if a dispute arises between the parties concerning the settlement of a claim, the dispute must be submitted to an impartial third party, not a court, for resolution. This is

an arbitration clause

Utility Company has the right to run its power lines across Vera's land. This is

an easement

Belle finds a tablet on the counter at Café Latte. She takes it to a police station where she is told that if it is not claimed by a certain time, she can obtain title to it. This is acquiring possession by

an estray statute

Fred and Joanne are married. Joanne purchases a car. Fred and Joanne each technically own an undivided one-half interest in the car. This is

community property

Nero and Omar agree to buy natural gas to sell to Power Refinery and to share storage costs until the refinery can take delivery. The gas is commingled so that Nero's cannot be distinguished from Omar's. This is

confusion

Leon obtains an insurance policy that will replace a portion of his monthly income from employment in the event that illness or injury causes a disability. This is

disability insurance

Miles obtains a property insurance policy from Nova Insurance Company for Miles's restored 1957 Chevy. Nova can cancel the policy if Miles

fails to pay the premiums

Leon transfers his shares of stock in Microsoft Inc. to National University as a gift. The school, which pays nothing for the stock, is the owner of the shares in

fee simple

Commercial Storage Corporation obtains an insurance policy that covers losses to the insured as a result of fire. This is

fire insurance

Irene obtains an insurance policy that protects her against some risks of loss to the contents of her residence. This is

homeowners' insurance

To obtain the title to land without delivery of a deed, one person must possess the property of another

in an open, visible, and notorious manner

Donald applies for a life insurance policy with Equity Insurance Company through Fletch, an agent who works for Equity. Donald pays the initial premium. Fletch writes a binder, which

indicates that a policy is pending and states its essential terms

Dyan and Ed are partners who own and operate Footlong's, a chain of hot-dog stands. Their partnership obtains insurance on their lives. This is

key-person insurance

Cutting Edge Corporation makes and sells knives, scissors, garden shears, and other cutting devices. To cover injuries to consumers if the products prove defective, Cutting Edge should obtain

liability insurance

Rick obtains an insurance policy from Stable Insurance Inc. The policy provides that on Rick's death Stable will pay $500,000 to Taylor, the beneficiary. This is

life insurance

World Hotels, Inc., insures its real and personal property to protect its financial interest should some event undermine its security. This is risk

mangement

Dick buys a fishing license and goes fishing. He catches a trout, cleans it, cooks it, and eats it. Dick's acquisition of the trout is by

possession

Mike owns a beach house in North Carolina in fee simple. This ownership interest is

potentially infinite in duration

The legally protected rights and interests that a person has in anything of established value subject to ownership is

property

Vance owns a field where he grows cotton. When he sells the field to Wilson, he includes the cotton that is growing in the field. This sale is governed by

real property law

Edna and Flavia buy a boat that they dock in a marina near Gulfport, Mississippi. On the death of either owner, that owner's interest in the boat passes to her heirs. This is

tenancy in common

Rosa, a writer, has a computer in her office. She has a copyright on her most recent work, a memoir of her trip through South America. Her tangible personal property includes

the computer

Jay owns a farm in Kansas, with a farmhouse, barn, and other structures permanently attached. Jay grows corn on the property. Land includes

the corn, the soil, and the structures

Bob owns twenty acres of land on the side of a mountain in Colorado. He files a suit against the Durango Flight School, claiming that its planes flying over his land violate his property rights. To succeed, his best argument is

the flights are low and frequent, interfering with enjoyment of his land.

Vern sells his apple orchard to Winnie. On Winnie's payment of the price, Vern transfers the title by deed. Vern is

the grantor

Heidi owns a smartphone, a tablet, and a patent on an app. Her intangible property includes

the patent

Center City wants to acquire undeveloped private land within the city limits to construct a public park. The city brings a condemnation proceeding to obtain title to the land. This is

the power of eminent domain