Question 1

Arnold wants to give Beth a pearl necklace that he has in his safe deposit box at Capital Bank. The bank is closed for a holiday. Arnold gives Beth a key to the box and tells her to go to the bank after the holiday and take the necklace. Beth does this. The next day, Arnold dies unexpectedly. His heirs want the necklace. Can Beth keep the necklace? Explain.

Accepted Answer

Personal property includes tangible item...

Question 2

In a joint tenancy , each co-owner owns an undivided interest in the property.

Accepted Answer

A) True 
 B)False

Question 3

A finder of mislaid property obtains title to the goods.

Accepted Answer

A) True 
 B)False

Question 4

Many states require the owner of lost property to make a reasonably diligent search to locate the finder.

Accepted Answer

A) True 
 B)False

Question 5

Inadvertently, Ralph leaves his phone at Sushi Café when he stops for lunch. The phone is

Accepted Answer

A)   abandoned property.
B)   converted property.
C)   lost property.
D)   mislaid property.E) A) and B)
F) A) and C)

Question 6

Persons who share ownership rights simultaneously in particular property are concurrent owners.

Accepted Answer

A) True 
 B)False

Question 7

Mary goes hunting during elk season. While trespassing on Nate's rural land, she shoots an elk. This elk is the property of

Accepted Answer

A)   Mary.
B)   Nate.
C)   the state.
D)   Mary and Nate equally.E) A) and D)
F) A) and B)

Question 8

Water is not considered personal property for the purpose of criminal prosecution when it is stolen or used without authorization.

Accepted Answer

A) True 
 B)False

Question 9

Even if the true owner of lost property demands that it be returned, the finder of the property is not obligated to surrender it.

Accepted Answer

A) True 
 B)False

Question 10

Inadvertently, Brie loses her textbook during an afternoon in City Park. She eventually gives up any attempt to find it. The textbook will then most likely be considered

Accepted Answer

A)   abandoned property.
B)   converted property.
C)   lost property.
D)   mislaid property.E) A) and C)
F) B) and C)

Question 11

Generally, there is no dispute about who owns the property after accession has occurred.

Accepted Answer

A) True 
 B)False

Question 12

Property that has been discarded by the true owner, who has no intention of reclaiming title to it, is abandoned property.

Accepted Answer

A) True 
 B)False

Exam 36: Personal Property

Even if the true owner of lost property demands that it be returned, the finder of the property is not obligated to surrender it.

Correct Answer
verified

Property that has been discarded by the true owner, who has no intention of reclaiming title to it, is abandoned property.

Correct Answer
verified

In a joint tenancy , each co-owner owns an undivided interest in the property.

Correct Answer
verified

Generally, there is no dispute about who owns the property after accession has occurred.

Correct Answer
verified

Many states require the owner of lost property to make a reasonably diligent search to locate the finder.

Correct Answer
verified

Inadvertently, Ralph leaves his phone at Sushi Café when he stops for lunch. The phone is

Correct Answer
verified

A finder of mislaid property obtains title to the goods.

Correct Answer
verified

Correct Answer
verified
Personal property includes tangible item...
View Answer

Water is not considered personal property for the purpose of criminal prosecution when it is stolen or used without authorization.

Correct Answer
verified

Inadvertently, Brie loses her textbook during an afternoon in City Park. She eventually gives up any attempt to find it. The textbook will then most likely be considered

Correct Answer
verified

Persons who share ownership rights simultaneously in particular property are concurrent owners.

Correct Answer
verified

Mary goes hunting during elk season. While trespassing on Nate's rural land, she shoots an elk. This elk is the property of

Correct Answer
verified

Exam 36: Personal Property

Even if the true owner of lost property demands that it be returned, the finder of the property is not obligated to surrender it.

Correct AnswerverifiedShow Answer

Property that has been discarded by the true owner, who has no intention of reclaiming title to it, is abandoned property.

Correct AnswerverifiedShow Answer

In a joint tenancy , each co-owner owns an undivided interest in the property.

Correct AnswerverifiedShow Answer

Generally, there is no dispute about who owns the property after accession has occurred.

Correct AnswerverifiedShow Answer

Many states require the owner of lost property to make a reasonably diligent search to locate the finder.

Correct AnswerverifiedShow Answer

Inadvertently, Ralph leaves his phone at Sushi Café when he stops for lunch. The phone is

Correct AnswerverifiedShow Answer

A finder of mislaid property obtains title to the goods.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedPersonal property includes tangible item...View AnswerShow Answer

Water is not considered personal property for the purpose of criminal prosecution when it is stolen or used without authorization.

Correct AnswerverifiedShow Answer

Inadvertently, Brie loses her textbook during an afternoon in City Park. She eventually gives up any attempt to find it. The textbook will then most likely be considered

Correct AnswerverifiedShow Answer

Persons who share ownership rights simultaneously in particular property are concurrent owners.

Correct AnswerverifiedShow Answer

Mary goes hunting during elk season. While trespassing on Nate's rural land, she shoots an elk. This elk is the property of

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Personal property includes tangible item...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified