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Test 3 LEB 320f Chapter 34 Personal Property Exam Questions and Answers CA$15.24   Add to cart
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Test 3 LEB 320f Chapter 34 Personal Property Exam Questions and Answers
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  • LEB 320F
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  • LEB 320F

lease - Answer-a ________ of personal property merely creates a bailment; the lessee has temporary possession but no ownership interest in the item of personal property gift specifics - Answer-(1) the donor must have a present intent to transfer ownership (2) the donor must deliver possession...

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  • October 16, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • test 3 leb 320f chapter 34 personal property exam
  • lease answer a of personal property mer

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  • LEB 320F

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Test 3 LEB 320f Chapter 34 Personal
Property Exam Questions and Answers
lease - Answer-a ________ of personal property merely creates a bailment; the lessee
has temporary possession but no ownership interest in the item of personal property

gift specifics - Answer-(1) the donor must have a present intent to transfer ownership

(2) the donor must deliver possession to the donee

retention of control - Answer-if the donor attempts to retain a degree of control over the
property, there usually is not a legally effective gift.

there must be a "competitive stripping of the donor of dominion or control over the thing
given."

constructive delivery - Answer-in most cases, delivery of actual physical possession is
required

two types of constructive delivery - Answer-impracticality

intangibles

impracticality - Answer-if it is inconvenient to deliver actual physical possession
because the item is too large or because it is located at too great a distance from the
parties, constructive delivery is allowed (delivery car keys for car)

intangibles - Answer-there is nothing physical to deliver

evidenced by written documents that either by law or business custom are accepted as
representing the intangible

invalidating gifts - Answer-not valid if the donor's action was induced by fraud, duress,
mistake, or undue influence

Inter Vivos and Causa Mortis gifts - Answer-special rules apply to causa mortis that
distinguishes it from a regular gift:

(1) the gift is revoked automatically if the donee dies before the donor, with the result
that ownership reverts back to the donor;

(2) the gift is also revoked automatically if the donor does not die from the current illness
or peril

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