20160314_140702_Compressed - ARE 18 Fall 2015 Final Exam...

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Unformatted text preview: ARE 18 Fall 2015 Final Exam Student: Which of the following types of property is land and anything attached to it? A. Personal B. Substantive C. Valued D. Real E. Appraised Which of the following is movable property that is not attached to land? A. Substantive B. Appraised C. Valued D. Personal E. Real Bank accounts, stocks, and insurance policies are examples of which of the following types of property? A. Substantive B. Unsubstantive C. Tangible D. Manifest E. Intangible Which of the following is a term for gifts made during someone's lifetime, not in contemplation of death? A. In rem gifts B. Probable gifts C. Sustainable gifts D. Inter vivos gifts E. Causa mortis gifts Which of the following is a term for gifts made in contemplation of death? A. In rem gifts B. Cause: mortis gifts C. Sustainable gifts D. Inter vivos gifts E. Probable gifts Which of the following is true regarding gifts and the imposition of conditions? A. Gifts may not be conditional. B. Gifts may be conditional only if consideration is present. C. Gifts may be conditional only if one of the parties is related by blood or marriage. D. Gifts may be conditional only if a condition precedent is involved. B. Gifts may be conditional. Which of the following is false regarding ways in which people may acquire title to property? A. In a bankruptcy case the court may award ownership of certain property to a creditor. B. A person may acquire ownership through confusion. C. A means of acquiring ownership is by court order. DIf a person creates a piece of property for himself or herself= then he or she owns that property only so . long as it is registered through either the patent or copyright process. B. When a person is paid to create property for someone elSe, the property is owned by the person who paid for its creation. 8. Property that the original owner has discarded is A. Discarded B. Mislaid C. Terminated D. Abandoned E. Tossed property. 9. Which of the following is not a duty of a bailee? A. The bailee must return the bailed property in good condition at the end of the bailment. B. The bailee must take reasonable care of the bailed property. C. The bailee must use the bailed property only as stipulated in the bailment agreement. D. The bailee must not alter the bailed property in any unauthorized manner. E. The bailee must at his or her own expense maintain the propelty. 10. Which of the following is property that the true owner has intentionally placed somewhere but has forgotten its location? A. Abandoned B. Terminated C. Mislaid D. Discarded E. Lost 11. Which of the following is true if a bailment is intended to benefit only the bailor? A. The bailee is liable for harm to the bailed property arising only out of the bailee's gross negligence only. B. The bailee is liable for harm to the bailed property caused by even the slightest lack of due care on the part of the bailee. C. The bailee is strictly liable for harm to the bailed property. D. The bailee is not liable for harm to the bailed property because of the doctrine of assumption of the risk. E. The bailee is liable for harm to the bailed property arising out of either the bailee's ordinary or gross negligence. 12. Which of the following is the applicable standard used in determining the liability of a common carrier when harm befalls property that is the subject of a bailment placed in the care of the carrier? A. Because of the doctrine of assumption of risk, the carrier is not liable for harm to the bailed property. B. The carrier is liable only if it can be proven that the carrier acted in a reckless manner. C. The carrier is liable only if gross negligence can be proven. D. The carrier is liable only if ordinary or gross negligence can be proven. E. The carrier is generally strictly liable for harm to the bailed property. "Stolen. Bicycle." Donnie borrowed the bicycle of his friend Karen. She told him that she was happy for him to use it for free, but she would appreciate him taking good care of it. Donnie said nothing in reply. Although Donnie lived in a high crime neighborhood, he left the bicycle unlocked on his deck. The next morning, he discovered that the bicycle had been stolen. Donnie told Karen that he was very sorry about the bicycle. Karen told him that she expected him to pay for it. Donnie refused on the basis that a thief took the bicycle. Donnie told Karen that he believes he knows the identity of the thief and that since only Karen has the right to sue to recover the property, he has no further responsibility. 13. Which of the following is true regarding Donnie's obligation to Karen? A. He is liable for the theft of the bailed property caused by even the slightest lack of due care on his part. B. He is liable for the theft of the bicycle arising out of his ordinary or gross negligence. C. He is not liable for the theft of the bicycle because of the doctrine of assumption of the risk. D. He is liable for the theft of the bicycle arising out of his gross negligence. E. He is strictly liable for the theft of the bicycle. 14. 15. 16. 17. 18. 19. 20. Which of the following is land and everything permanently attached to it? A. Absolute property B. Personal property C. Fee property D. Listed property E. Real property A estate is granted for the lifetime of an individual with the right to possess the property terminating at the individual's death. A. Future interest B. Leasehold C. Fee simple absolute D. Life E. Conditional A is a person's present right to future property ownership and possession. A. Leasehold estate B. Fee simple absolute C. Life estate D. Future interest E. Conditional estate An owner of a A. Fee simple absolute B. Conditional estate C. Life estate D. Future interest E. Leasehold has a possessory interest but not an ownership interest. A is an instrument of that conveys real property from one owner to another. A. Form of acknowledgment B. Title C. Transfer D. Deed E. Right of way Which of the following occurs when a person takes ownership of property by treating a piece of real properly as his or her own, without protest or permission from the owner? A. Opposed possession B. Obtained title C. Adverse possession D. Unopposed possession E. Adverse title Which of the following is the legal process by which a transfer of property is made by a governmental entity against the protest of the property owner? A. Appropriation B. Condemnation C. Substitution D. Allocation E. Publication "Disgruntled Buyer." Tom had lived in his home for five years without doing any upkeep of any type. He was aware that the roof leaked, that he had defective piping, and that the air conditioning did not work, among other problems. He sold the home to Kathy. He did not tell her anything about the problems with the house. Shortly after Kathy moved in, there was a thunderstorm resulting in water streaming down from the ceiling. Within a few weeks of her moving in, pipes began to burst resulting in significant water damage. The air conditioner also failed to work when she turned it on for the first time. Kathy demanded that Tom refund her purchase price and take back the house. Tom sent her a letter providing as follows: Dear Kathy, Caveat emptor. You have marketable title. Regards, Tom Kathy is furious and wants to sue. 21. What does the term "caveat emptor” mean? A. The buyer was unintelligent. B. Title has passed. C. The buyer was negligent. D. Let the seller beware. E. Let the buyer beware. 22. Which of the following is meant by Bruce's statement that Kathy has marketable title? A. That all taxes have been paid and that there are no liens or restrictions on the property, but not that Kathy has legal title. B. All of these. C. That she has legal title and that there are no liens or restrictions on the property of which she is unaware. D. That all taxes have been paid. E. That Kathy has the legal title, not Bruce, and that she, therefore, has responsibility for all repairs. 23. Which of the following is true regarding any duty Bruce owed to Kathy prior to the sale? A. In most states Bruce had no duty to warn Kathy of anything. B. In most states Bruce had no duty to warn Kathy of anything so long as she had her own home inspection done. CIn most states Bruce had a duty to warn Kathy about any defects he knew about that a reasonable . buyer would not have been able to discover through a thorough examination of the property and that materially affected the value of the property. Dln most states Bruce only had a duty to warn Kathy about any defects he knew about that a reasonable . buyer would not have been able to discover through a thorough examination of the property. EIn most states Bruce had a duty to warn Kathy about any defects in the property regardless of whether . they could have been discovered through a thorough examination of the property. 24. If a trademark is registered, what may the owner obtain in the event of infringement from a person who used the trademark to pass off goods as being those of the mark owner? A Damages, an injunction prohibiting the infringer from using the mark, and additional damages based on . a multiplier of 5 times the original damages. B. An additional amount of damages computed as a multiplier of 5 times the original damages but nothing else. C. Damages and an injunction prohibiting the infringer from using the mark. D. Damages only. E. An injunction prohibiting the infringer from using the mark only. 25. Once a trademark is registered today, when must it be renewed for the first time? A. Between the third and fourth year. B. Between the first and second year. C. Between the fourth and fifth year. D. Between the fifth and sixth. year. E. Between the second and third year. 26. 27. 28. 29. 30. 31. Which of the following is a mark licensed by a group that has established certain criteria for use of the mark, such as "U.L. Tested" or 1Good housekeeping Seal of Approval"? A. Physical activity mark B. Service mark C. Certification mark D. Product trademark E. Collective mark When trademark infringement is alleged, what is the effect of actual confusion? A. It is a weak indication that there is a likelihood of confusion. B. It is a prerequisite for the plaintiff to recover. C. It is a strong indication that the plaintiff will bridge the gap. D. It is not a prerequisite for the plaintiff to recover but it is a strong indication that there is a likelihood of confusion. E. It is a strong indication that there is a likelihood of confusion and also that the plaintiff will bridge the gap- Which of the following provides that a portion of a copyrighted work may be reproduced for purposes of criticism, comment, news reporting, teaching, scholarship, and research? A. The Copyright Use Doctrine B. The Approved Use Doctrine C. The Limited Use Doctrine D. The Trade Use Doctrine E. The Fair Use Doctrine Which of the following is true regarding what may be the subject of a patent? A. Only products may be the subject of patents. B. Only processes may be the subject of patents. C. A product, a process, an invention, or a plant produced by asexual reproduction may be the subject of a patent. D. Only inventions may be the subject of patents. E. An invention may be the subject of a patent, but a plant produced by asexual reproduction may not be the subject of a patent. When a patent is issued for an object, it gives its holder the exclusive right to produce, sell, and use the object of the patent for years from the date of application. A. Twenty B. Thirty C. Ten D. Fifty E. Forty Which of the following isfalse regarding trade secret protection? A. A company's client list may be considered a trade secret. B. Lawful discovery of a trade secret means there is no longer a trade secret to be protected. C. Competitors may discover secrets by going on public tours of plants and observing the use of the trade secret. D. Competitors may not discover trade secrets by doing reverse engineering. E. There is no registration of trade secrets. "Wedding photos." Bobby took a number of wedding photos at Jill's wedding. He was paid as the photographer. On all of the photographs, he appropriately noted in the bottom right—hand corner information showing that he was claiming copyright protection. Jill came to see Bobby three years after the initial photographs were taken and requested that he grant her permission to run off as many copies as she wanted at the local photo shop from the pictures that she initially purchased. The photo shop had refused to reproduce the photographs without his permission. When he refused to give her permission to do so, Jill started a heated argument. She told Bobby that photographs are not entitled to copyright protection. She also told him that even if he was correct that there was some copyright protection, it only lasted for two years and that, in any event, damages for copyright infringement are unavailable. 32. Which of the following is correct regarding Jill's claim regarding copyright protection on a photograph 33. only extending for a maximum of two years? A She is incorrect, and a copyrighted work that is reproduced with the appropriate notice affixed is . protected for the life of its creator plus ten years. B. She is correct. C She is incorrect, and a copyrighted work that is reproduced with the appropriate notice affixed is . protected for the life of its creator plus thirty years. D She is incorrect, and a copyrighted work that is reproduced with the appropriate notice affixed is . protected for the life of its creator plus fifty years. E.She is incorrect, and a copyrighted work that is reproduced with the appropriate notice affixed is protected for the life of its creator plus seventy years. Which of the following is correct regarding Jill’s statement pertaining to damages? A. It is not necessary that a copyrighted work be registered in order for the creator to obtain damages. B. She is correct that damages are unavailable in copyright infringement actions. C. Damages are available, but a copyrighted work must be registered in order for the creator to recover damages from infringement. D It is necessary for a photograph to be registered before the creator may obtain damages, but that is not . true for other materials subject to copyright. E.Some material that is subject to copyright must be registered before its creator may recover damages for infringement, but that is not true for photographs. 1. ARE 18 Fall 2015 Final Exam Key Which of the following types of property is land and anything attached to it? (o. 1064) A. Personal 2. B. Substantive C. Valued D4 Real Appraised Real property is land and anything permanently attached to the land. AA CSB: Analytic Accessibility: Keyboard Navigation Biooms: Remember Difi‘icuige 1 Easy Kubasek - Chapter 48 #16 Learning Objective: 48—01 What are the ciassifications of property? Topic: 1" he Nature and Classifications of Property Which of the following is movable property that is not attached to land? 0" “’55) A. Substantive 3. (p. 1065) B. Appraised C. Valued L Personal E. Real Personal property is generally defined as property that is not attached to the land, or movable property. AA CSB: Ahaiytic Accessibiiity: Keyboard Navigation Biooms: Remember Difficulty: 1 Easy Kubaseic - Chapter 48 #1 7 Learning Objective: 48-01 What are the classifications ofproperty? Topic: Persona! Properly Bank accounts, stocks, and insurance policies are examples of which of the following types of property? A. Substantive B. Unsubstantive C. Tangible D. Manifest _]_+3_._ Intangible Intangible property includes such items as bank accounts, stocks, and insurance policies. AACSB: Ahaiytt'c Accessibtiity: KeyboardNovigatiort Blooms: Understand Dh’ficuity: 2 Medium Kubasek- Chapter 48 #21 Learning Objective: 48-01 What are the classifications of property? Topic: Personal Property do: 1067) 5 . (p. 1067) 6. (p. 1069) Which of the following is a term for gifts made during someone's lifetime, not in contemplation of death? A. In rem gifts 8. Probable gifts C. Sustainable gifts Q Inter vivos gifts E. Cansa mom‘s gifts Inter vivos gifts are gifts that are made by a person during his or her lifetime. AACSB: Diversigi Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 1 Easy Kubasek — Chapter 48 #23 Learning Objective: 48-02 How is personal property transjewed? Topic: Personal Property Which of the following is a term for gifts made in contemplation of death? A. In rem gifts L Causa martin gifts C. Sustainable gifts D. Inter vivos gifts Probable gifts A causa mortis gift is made in contemplation of one's immediate death. AA CSB: Diversin A ccessibiliiy: Keyboard Navigation Blooms: Understand Diflicnity: 1 Easy Kitbaseic - Chapter 48 #24 Learning ObjectiVe: 48-02 How is personal property transferred? Topic: Personal Property Which of the following is true regarding gifts and the imposition of conditions? Gifts may not be conditional. B. Gifts may be conditional only if consideration is present. C. Gifts may be conditional only if one of the parties is related by blood or marriage. 1). Gifts may be conditional only if a condition precedent is involved. "[11; Gifts may be conditional. Gifts may be conditional. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Understand Difiiculm 2 Medium Kitbasek — Chapter 48 #27 Learning Objective' 48-02 How is personal property transferred? Topic: Personal Property 7. (p. 1073) 8. an. 1071) Co. 1075- 1076) Which of the following is false regarding ways in which people may acquire title to property? A. In a bankruptcy case the court may award ownership of certain property to a creditor. B. A person may acquire ownership through confusion. C. A. means of acquiring ownership is by court order. Qlf a person creates a piece of property for himself or herself, then he or she owns that property only = so long as it is registered through either the patent or copyright process. IE. When a person is paid to create property for someone else, the property is owned by the person who paid for its creation. If a person creates a piece of property for himself or herself, then he or she owns that property. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Kubasek - Chapter 48 #28 Learning Objective: 48-02 How is personal property transferred? Topic: Personal Property Property that the original owner has discarded is property. A. Discarded B. Mislaid C. Terminated J); Abandoned E1. Tossed Property that the original owner has discarded is abandoned property. AA CSB: Analytic Accessibility: Keyboard Navigation BIooms: Remember Difi‘iculiy: I Easy Kubasefc -- Chapter 48 #32 Learning Objective: 48-02 How is personal property transferred? Topic: Personal Property Which of the following is not a duty of a bailee? A. The bailee must return the bailed property in good condition at the end of the bailment. B. The bailee must take reasonable care of the bailed property. C. The bailee must use the bailed property only as stipulated in the bailment agreement. D. The bailee must not alter the bailed property in any unauthorized manner. E_. The bailee must at his or her own expense maintain the property. Regardless of the type of bailment, the bailee has the right to be reimbursed for expenses that were necessary to maintain the bailed property. AACSB: Analytic Accessibility: KeyboardNavigaiion Blooms: Understand Dzfliculty: 2 Medium Kubaseic - Chapter 48 #33 Learning Objective: 48-03 What are the rights and" responsibilities of parties to a bailment? Topic: Bailrneni 10. Which of the following is property that the true owner has intentionally placed somewhere but has (Pt “’73) forgotten its location? 11. A. Abandoned B. Terminated Q Mislaid D. Discarded [-3. Lost Mislaid property differs from lost property in that the owner has intentionally placed the property somewhere but has forgotten its location. AACSB: Analytic Access...
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