Reference no: EM132229930
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. 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.
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.
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
5. Constructive eviction of a tenant by a landlord could be failure to provide heat and hot water in the winter.
True
False
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
7. Tangible personal property is property that has physical substance.
True
False
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
9. Property that is voluntarily placed somewhere by its owner with no intention of reclaiming it is abandoned property.
True
False
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
11. A promise to deliver a gift is considered the same as constructive delivery.
True
False
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
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
14. A bailment is the same as a gift because title and possession pass from the bailor to the bailee.
True
False
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
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
17. A patent must be filed in every state where you use it.
True
False
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
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
20. Intangible personal property is not as valuable as tangible personal property because it cannot be reduced to physical possession.
True
False
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