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