Self Check Chapter 23 Quiz (WK7)

Self Check Chapter 23 Quiz (WK7) - Self Check Chapter 23...

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Self Check Chapter 23 Quiz (WK7) 1 Personal property consists of anything related to land, buildings, and fixtures, while real  property consists of anything that has a physical existence. A) True B) False 2 A person who accepts a bailment (the bailee) owes a duty to protect the property and to  return it upon the completion of the bailment. A) True B) False 3 Grandma told Emily that she would give Emily her garnet ring, but never did so. A court  would probably find that Grandma made a gift of the ring to Emily. A) True B) False 4 Property rights are protected by the U.S. Constitution A) True B) False 5 Copyrights and trademarks are intangible property. A) True B) False 6 Johnny discovered a bicycle parked on his driveway when he woke up on Saturday  morning. The bicycle had no license tag and no way of identifying the owner. A) Johnny may be deemed to be a constructive bailee of the bicycle. B) A bailment has been created by express contract, provided that the owner of  the bicycle left a note on it asking Johnny to hold onto it for a short period of  time. C) A bailment has been created by implied contract, because Johnny now has  exclusive possession and control over the bicycle. D) Johnny may keep the bicycle, even if the true owner later claims the bicycle  and demands its return.
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7 A bailee of personal property must: A) Charge a fair rate of interest. B)
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Self Check Chapter 23 Quiz (WK7) - Self Check Chapter 23...

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