Question 1

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

Accepted Answer

A)   accession.
B)   acquisition .
C)   conversion.
D)   requisition.E) B) and C)
F) C) and D)

Question 2

Someone who finds abandoned property acquires title to it.

Accepted Answer

A) True 
 B)False

Question 3

The delivery of intangible property is always accomplished by constructive delivery.

Accepted Answer

A) True 
 B)False

Question 4

Don owns factory machinery and the tools to service it, as well as office furniture, including computers. Emily owns trademarks that identify certain products, and stock in the company that sells those products. Personal property includes items owned by

Accepted Answer

A)   Don and Emily.
B)   Don only .
C)   Emily only.
D)   neither Don nor Emilio.E) A) and D)
F) A) and C)

Question 5

Manufacturers who produce personal property thereby acquire title to it.

Accepted Answer

A) True 
 B)False

Question 6

On the death of an owner in fee simple, his or her interest in property passes to the state.

Accepted Answer

A) True 
 B)False

Question 7

Fred and Joanne are married. Joanne purchases a car. Fred and Joanne each technically own an undivided one-half interest in the car. In several states, this is

Accepted Answer

A)   a joint tenancy.
B)   fee simple ownership.
C)   community property.
D)   illegal.E) A) and C)
F) A) and D)

Question 8

With respect to property, the law defines the right to

Accepted Answer

A)   sell or dispose of it, but not prevent trespass onto it.
B)   prevent trespass onto it, but not to sell or dispose of it.
C)   sell or dispose of it, and prevent trespass onto it.
D)   none of the choices.E) B) and C)
F) B) and D)

Question 9

After shopping at a Cut-Price store, Dyan finds a smart watch in her bag of purchases that she knows she did not pay for. If Dyan fails to return the watch to the store or to pay for it, she will have committed

Accepted Answer

A)   accession.
B)   confusion .
C)   conversion.
D)   production.E) A) and B)
F) A) and C)

Question 10

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

Accepted Answer

A)   accession.
B)   confusion .
C)   conversion.
D)   production.E) B) and C)
F) A) and B)

Question 11

Sara owns a ring. She asks Tomas, a jeweler, to add a diamond to it. Adding the diamond will increase the value of the ring. This is

Accepted Answer

A)   accession.
B)   acquisition .
C)   conversion.
D)   validation.E) A) and C)
F) All of the above

Question 12

The law defines the right to use, and to sell or dispose of it.

Accepted Answer

A) True 
 B)False

Question 13

Wild animals in their natural state belong to no one.

Accepted Answer

A) True 
 B)False

Question 14

Emily owns Fertile Farm. Emily's only son Geraldo owns the adjacent Hillside Orchard. Emily makes a gift of the farm to Ida, a short-term employee. This gift may lack the required element of

Accepted Answer

A)   acceptance.
B)   delivery.
C)   donative intent.
D)   dominion.E) A) and D)
F) B) and D)

Question 15

While trespassing on Nan's ranch land, Owen tracks, and shoots, a wolf in violation of state wild game statutes. This wolf is the property of

Accepted Answer

A)   Owen.
B)   Nan.
C)   the state.
D)   none of the choices.E) B) and D)
F) B) and C)

Question 16

Essentially, real property is moveable, while personal property is not.

Accepted Answer

A) True 
 B)False

Question 17

A finder of lost property can claim title to it against the whole world, including the true owner.

Accepted Answer

A) True 
 B)False

Question 18

In a tenancy in common , each co-owner owns an undivided, fractional interest in the property.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)   Rob and Sue as co-owners.
B)   Rob because he improved it substantially.
C)   the state under an estray statute.
D)   Sue because Rob stole it.E) B) and C)
F) A) and D)

Question 20

Intangible personal property has no real physical existence.

Accepted Answer

A) True 
 B)False

Exam 36: Personal Property

After shopping at a Cut-Price store, Dyan finds a smart watch in her bag of purchases that she knows she did not pay for. If Dyan fails to return the watch to the store or to pay for it, she will have committed

Correct AnswerverifiedShow Answer

Wild animals in their natural state belong to no one.

Correct AnswerverifiedShow Answer

A finder of lost property can claim title to it against the whole world, including the true owner.

Correct AnswerverifiedShow Answer

On the death of an owner in fee simple, his or her interest in property passes to the state.

Correct AnswerverifiedShow Answer

In a tenancy in common , each co-owner owns an undivided, fractional interest in the property.

Correct AnswerverifiedShow Answer

While trespassing on Nan's ranch land, Owen tracks, and shoots, a wolf in violation of state wild game statutes. This wolf is the property of

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Essentially, real property is moveable, while personal property is not.

Correct AnswerverifiedShow Answer

Manufacturers who produce personal property thereby acquire title to it.

Correct AnswerverifiedShow Answer

Fred and Joanne are married. Joanne purchases a car. Fred and Joanne each technically own an undivided one-half interest in the car. In several states, this is

Correct AnswerverifiedShow Answer

The delivery of intangible property is always accomplished by constructive delivery.

Correct AnswerverifiedShow Answer

Someone who finds abandoned property acquires title to it.

Correct AnswerverifiedShow Answer

Sara owns a ring. She asks Tomas, a jeweler, to add a diamond to it. Adding the diamond will increase the value of the ring. This is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Intangible personal property has no real physical existence.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The law defines the right to use, and to sell or dispose of it.

Correct AnswerverifiedShow Answer

With respect to property, the law defines the right to

Correct AnswerverifiedShow Answer

Emily owns Fertile Farm. Emily's only son Geraldo owns the adjacent Hillside Orchard. Emily makes a gift of the farm to Ida, a short-term employee. This gift may lack the required element of

Correct AnswerverifiedShow Answer

Don owns factory machinery and the tools to service it, as well as office furniture, including computers. Emily owns trademarks that identify certain products, and stock in the company that sells those products. Personal property includes items owned by

Correct AnswerverifiedShow Answer

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