Question

QUESTION 1

In a bailment for the sole benefit of the bailee, the bailor does not need to notify the bailee of hidden defects in the bailed property that the bailor knows of.

True

False

2 points   

QUESTION 2

Greenway Freight is transporting a load of furniture for Levitz from Chicago to   Portland.

Greenway’s truck is damaged by a tornado. Much of the furniture is damaged as a result.

Will Greenway be held liable to Levitz for damages?

	a.	No, because the tornedo constituted an act of God or public disaster and therefore the loss is born by the Levitz, as an exception to the rule of strict liability.
	b.	No, because the Levitz, the shipper can easily replace the goods
	c.	Yes, because the driver was negligent in not checking the weather
	d.	Yes, because common carriers such as Greenway are strictly liable for damage to bailed goods.

2 points   

QUESTION 3

Barney Ruble builds a driveway and 1 foot of the driveway has been built on Fred Flintstone’s property. Ten years have passed.

Barney’s right to use the property is:

	a.	a leasehold estate.
	b.	a license.
	c.	an easement.
	d.	a profit.

2 points   

QUESTION 4

Nike sneakers are recognized by their Swoosh logo. This is called:

	a.	A Patent
	b.	A Copyright
	c.	A Trademark
	d.	A Service Mark

2 points   

QUESTION 5

Constructive eviction of a tenant by a landlord could be failure to provide heat and hot water in the winter.

True

False

2 points   

QUESTION 6

Laws that apply to situations that involve lost or abandoned property are called:

	a.	Dram Shop Acts
	b.	Social Host Laws
	c.	Estray Statutes
	d.	Eminent Domain statutes

2 points   

QUESTION 7

Tangible personal property is property that has physical substance.

True

False

2 points   

QUESTION 8

Ted tells Ann he is going to give her a diamond bracelet for her birthday. He buys it a Kay Jewelers on Tuesday

and posts a picture on Instagram and announces his intent to give Ann the bracelet. On Friday they have

a huge fight. If Ted does not give Ann the bracelet on her birthday, Ann can successfully sue for specific performance,

which would require Ted to give her the bracelet.

True

False

2 points   

QUESTION 9

Property that is voluntarily placed somewhere by its owner with no intention of reclaiming it is abandoned property.

True

False

2 points   

QUESTION 10

Joy invented a new mop. To protect product from copying the design she would apply for a:

	a.	Patent
	b.	Copyright
	c.	Trademark
	d.	Service Mark

2 points   

QUESTION 11

A promise to deliver a gift is considered the same as constructive delivery.

True

False

2 points   

QUESTION 12

A deed is the same as a contract and must be supported by valid consideration, such as money and cannot be given as a gift.

True

False

2 points   

QUESTION 13

Amy’s parents tell her they will give her their 2018 Lexus, if she gets an "A" in business Law.

She receives an "A" but her parents refuse to give her the car. This is a conditional gift and

since Amy fulfilled the condition, she may successfully sue for the car.

True

False

2 points   

QUESTION 14

A bailment is the same as a gift because title and possession pass from the bailor to the bailee.

True

False

2 points   

QUESTION 15

Jim is going to the hospital to have open heart surgery. He gives his best friend Bill his college ring and say

“I do not think I will survive this surgery and I am giving you my ring. Jim survives the surgery but gets

hit by a car on the way to the hospital. Bill does not have to return the ring.

True

False

2 points   

QUESTION 16

For a deed to pass title from the grantor to the grantee, it must be signed by the grantee. (Person buying the property).

True

False

2 points   

QUESTION 17

A patent must be filed in every state where you use it.

True

False

2 points   

QUESTION 18

Bob gives his employee Ted 25 shares of stock certificates as a bonus. Ted posts on Facebook that Bob

is the worst boss ever! Bob can successfully sue Ted for the return of the stock because it not tangible

personal. property., so the delivery of the stock certificates does not transfer title.

True

False

2 points   

QUESTION 19

Ann leases an apartment from Bob and agrees to make monthly rent payments on the first day of every month.

No definite lease term is specified in the lease agreement. This is:

	a.	a periodic tenancy.
	b.	a tenancy at sufferance.
	c.	a tenancy by the entirety
	d.	a fixed term tenancy

2 points   

QUESTION 20

Intangible personal property is not as valuable as tangible personal property because

  it cannot be reduced to physical possession.

True

False

2 points   

QUESTION 21

If a periodic tenancy is from month to month, the landlord must give the tenant one months’ notice before he can evict him.

True

False

2 points

Answer 1

Question 1

The correct answer is True.

It is the duty of the bailor to reveal about the defect to the bailee under following rules: -

• When the bailment is of mutual benefits, the bailor must notify the bailee about all known and hidden defects.
• When the bailment is of sole benefit for the bailee, the bailer must notify the bailee about the known defects and does not notify the bailee of hidden defects in the bailed property