Assignment 1.docx - BUS 3055 – ASSIGNMENT 1 DUE October 16 AT END OF CLASS NAME 1 property means land and things embedded in the land a Real b

Assignment 1.docx - BUS 3055 – ASSIGNMENT 1 DUE October...

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BUS 3055 – ASSIGNMENT 1 DUE October 16 AT END OF CLASS NAME: 1. __________ property means land and things embedded in the land. a. Real b. Personal c. Intangible d. Tangible ANS: _______ 2. To establish a gift, the party claiming to be the donee must prove: a. delivery only. b. intent only. c. intent and a promise to deliver. d. intent and delivery. ANS: _______ 3.A gift causa mortis is revoked if: a.the donor does not die.b.the donor revokes the gift before dyingc.the donee dies before the donor.d.all of the above.ANS: _______ 4. A bailee’s __________ gives the bailee the right to maintain possession of the bailed property until reasonable storage and/or repair charges are paid. a. reversionary interest b. Lien c. remainder interest d. Mortgage ANS: _______ 5.A warehouser that holds itself out to serve the public generally without discrimination is called a(n):
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6.The rights of a holder of a warehouse receipt depend on whether the receipt is: 7.A bill of lading that consigns the goods "to bearer" is called a: 8.A common carrier transporting goods under a COD shipment may: a.make delivery without first obtaining payment.b.not make delivery without first receiving payment.c.accept a check as payment and have no liability.d.not avoid liability without a signed release.ANS: _______ 9.When consigned goods are sold by a factor: 10.The legal definition of a guest of a hotel requires that the person: 11.Article 2 of the Uniform Commercial Code applies to the sale of:
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12.A transfer of possession, but not title, is called: a.a bailment.b.an option to purchase.c.a giftd.all of the above.ANS: _______
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