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Exam2BusinessLaw5PersonalPropertyandBailments - Robert W...

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Robert W Bartels Bartels 1 Business Law 5 \ 3073 Mr. Richard Mednick Monday 18:00 hrs to 22:00 hrs BUS3201 Exam #2 Questions \ Personal Property and Bailments: PERSONAL PROPERTY AND BAILMENTS True-False--Circle T for true or F for false. T F 1. A patent is classified as real property. T F 2. A bailment cannot be created without an express contract to that effect. T F 3. Although a gift causa mortis is sometimes revocable after delivery of the item, a completed gift inter vivos cannot be "taken back." T F 4. One who does not have actual physical control of an item of personal property may still have legal possession of it. T F 5. Accession is the mixing of goods belonging to different owners in such a way that the goods cannot later be separated. T F 6. A bailee in a bailment for the benefit of the bailee is held to a lower standard of care than is the bailee in a bailment for mutual benefit. T F 7. The first person to take possession of a wild animal normally becomes its owner. T F 8. One requirement for a valid gift is that the donor has irrevocably given up possession and control of the property to the donee or a third person. T F 9. Personal property may become part of real property. T F 10. A disclaimer that purports to relieve a bailee of liability for intentional harm to the property will generally be enforceable. PERSONAL PROPERTY AND BAILMENTS Multiple Choices--Circle the best answer.
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