Question 1

The sale of personal property, but not real property, is governed by Article 2 of the Uniform Commercial Code.

Accepted Answer

A) True 
 B)False

Question 2

A gift causa mortis can be revoked, while a gift inter vivos cannot.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is an example of an agricultural fixture?

Accepted Answer

A)   Milling plants
B)   Book-shelves
C)   Washing machines
D)   Doors
E)   Screens

Question 4

The general rule of accession is that when goods are added to goods, the owner of the principal goods becomes the owner of the enhanced product.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is true of gifts?

Accepted Answer

A)   The transfer of a gift involves compensation but not consideration.
B)   A gift is a declaration of an intention to give in the future rather than a present transfer.
C)   A gift is a voluntary transfer of property.
D)   A gift requires consideration but not necessarily compensation.
E)   A gift depends on the intention of the giver, but not on the acceptance of the donee. C

Question 6

The owner is entitled to the return of lost or misplaced property unless:

Accepted Answer

A)   the finder actually takes the object into her possession.
B)   the goods are found on private property.
C)   it was lost on public land or in a public area.
D)   he has intentionally abandoned it.
E)   the finder has expenses in connection with returning the property.

Question 7

Transfer of real property usually takes place without any documents at all.

Accepted Answer

A) True 
 B)False

Question 8

The finder of lost property is said to be a quasi-bailee for the true owner.

Accepted Answer

A) True 
 B)False

Question 9

When a garage uses its paint to repaint a customer's automobile, the car owner, not the painter, is the owner of the finished product. This situation follows the general rule of:

Accepted Answer

A)   receivership.
B)   composition.
C)   conversion.
D)   accession.
E)   confusion.

Question 10

To make an effective gift inter vivos or causa mortis, the law imposes three requirements. What are they?

Accepted Answer

To make an effective gift inter vivos or...

Question 11

Which of the following is true of a gift inter vivos?

Accepted Answer

A)   It is made between living persons without conditions attached.
B)   It is made by someone contemplating death in the future.
C)   The gift is made with the intent to transfer the property at a future date.
D)   The donor has the power to revoke this gift before he dies.
E)   The donee loses title if the donor does not die.

Question 12

A contract for sale or for testamentary transfer will consider a stove bolted to the floor of a kitchen and connected to the gas lines to be an) :

Accepted Answer

A)   gift.
B)   lien.
C)   fixture.
D)   confusion.
E)   codicil.

Question 13

The finder who knows the owner or has reasonable means of discovering the owner's identity commits _____ if she holds on to the object with the intent that it be hers.

Accepted Answer

A)   capital theft
B)   brigandage
C)   embezzlement
D)   fraud
E)   larceny

Question 14

A _____ is a voluntary transfer of property without consideration or compensation, which takes effect immediately, upon preparation of the documents.

Accepted Answer

A)   promise
B)   will
C)   grant
D)   gift
E)   sale D

Question 15

Which of the following is an example of an intangible property?

Accepted Answer

A)   A trademark
B)   A popsicle stand
C)   A hairdryer
D)   A steamroller
E)   A phone

Question 16

A gift inter vivos is a gift made by someone contemplating death in the near future.

Accepted Answer

A) True 
 B)False

Question 17

For an object to be considered a fixture, it must be annexed or affixed to the real property.

Accepted Answer

A) True 
 B)False

Question 18

Real property is movable whereas personal property is immovable.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true of real and personal property?

Accepted Answer

A)   Real property is movable.
B)   Transfer of personal property can take place without any documents at all.
C)   Personal property is immovable and can only be transferred by a deed.
D)   At common law, real property has been referred to as chattels.
E)   The sale of personal property is governed by the general law of contracts.

Question 20

Tenant's fixtures cannot be transferred when the tenant's lease expires, and must remain with the real property.

Accepted Answer

A) True 
 B)False  False

Exam 36: Introduction to Property: Personal Property and Fixtures

The sale of personal property, but not real property, is governed by Article 2 of the Uniform Commercial Code.

Correct AnswerverifiedShow Answer

A gift causa mortis can be revoked, while a gift inter vivos cannot.

Correct AnswerverifiedShow Answer

Which of the following is an example of an agricultural fixture?

Correct AnswerverifiedShow Answer

The general rule of accession is that when goods are added to goods, the owner of the principal goods becomes the owner of the enhanced product.

Correct AnswerverifiedShow Answer

Which of the following is true of gifts?

Correct AnswerverifiedC

The owner is entitled to the return of lost or misplaced property unless:

Correct AnswerverifiedShow Answer

Transfer of real property usually takes place without any documents at all.

Correct AnswerverifiedShow Answer

The finder of lost property is said to be a quasi-bailee for the true owner.

Correct AnswerverifiedShow Answer

When a garage uses its paint to repaint a customer's automobile, the car owner, not the painter, is the owner of the finished product. This situation follows the general rule of:

Correct AnswerverifiedShow Answer

To make an effective gift inter vivos or causa mortis, the law imposes three requirements. What are they?

Correct AnswerverifiedTo make an effective gift inter vivos or...View AnswerShow Answer

Which of the following is true of a gift inter vivos?

Correct AnswerverifiedShow Answer

A contract for sale or for testamentary transfer will consider a stove bolted to the floor of a kitchen and connected to the gas lines to be an) :

Correct AnswerverifiedShow Answer

The finder who knows the owner or has reasonable means of discovering the owner's identity commits _____ if she holds on to the object with the intent that it be hers.

Correct AnswerverifiedShow Answer

A _____ is a voluntary transfer of property without consideration or compensation, which takes effect immediately, upon preparation of the documents.

Correct AnswerverifiedD

Which of the following is an example of an intangible property?

Correct AnswerverifiedShow Answer

A gift inter vivos is a gift made by someone contemplating death in the near future.

Correct AnswerverifiedShow Answer

For an object to be considered a fixture, it must be annexed or affixed to the real property.

Correct AnswerverifiedShow Answer

Real property is movable whereas personal property is immovable.

Correct AnswerverifiedShow Answer

Which of the following is true of real and personal property?

Correct AnswerverifiedShow Answer

Tenant's fixtures cannot be transferred when the tenant's lease expires, and must remain with the real property.

Correct AnswerverifiedFalse

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C

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To make an effective gift inter vivos or...
View Answer

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D

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False