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LEGL2700 test 2 Questions and Answers
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LEGL2700 test 2 Questions and Answers
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1|Page | © copyright 2024/2025 | Grade A+LEGL2700 test 2 Questions and
Answers (100% Pass)
After graduating from Terry, you get a great job working as a risk analyst for
UPS in Atlanta. Instead of renting, you decide to buy a house with your
roommate from college. What is the best way to take title with your
roommate?
✓ Tenancy in common-family can inherit half of the property instead of
roommate
Eva tells Ingrid that she is going to give her a computer. Before Eva gives
Ingrid the computer, Eva says she changed her mind, and she wants to keep
the computer. Ingrid says that Eva can't change her mind, the computer is
already hers. Is Ingid right?
✓ no, Inter vivos gift, in lifetime, intent and physical transfer, missing
physical transfer
John finances the purchase of his house with a mortgage loan from Bank of
Georgia. Bank of Georgia forgets to file the signed mortgage in the county
recording office. John gets a new loan from Bank of Athens that is also
secured by his home in order to start his new battery recycling business. Bank
of Athens immediately files its mortgage in the county recording office. Which
bank will have priority?
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ Bank of Athens has priority since they filed first
NYC Bank provides a loan to Z company to buy equipment. Z company
pledges the equipment as collateral for a loan. NYC does not file a financing
statement on the equipment. A few months later, Z Company pledges the
same equipment for a loan from Big Apple Bank. Big Apple Bank immediately
files a financing statement to perfect its security interest in the equipment.
Which lender has priority?
✓ The second has priority
First bank loans Gina 30,000 to buy a new Camry. Gina sells the car to Pedro.
First bank sues Pedro to recover its collateral. Who wins?
✓ Pedro wins, buyers in the ordinary course, Pedro doesn't have to worry
about the bank, between Gina and bank
Blair purchases a condo from Stephen. After closing, Blaire opens the key to
her new home to discover that Stephen removed the oven when he moved
out. Furious, Blaire sues Stephen for the cost of replacing the oven. How will
the court determine who wins?
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ -Fixture is real property, goes to the grantee
✓ -Physical annexation, residential property
✓ >Cause damage to remove the property, if left damaged than
considered a fixture
✓ -Blaire wins if oven is a fixture
Your friend asks to borrow your computer to take her accounting exam. As
she sets up for her exam, she spills her entire Starbucks latter on your
keyboard. The computer never functions properly after she returns it. what
type of bailment is this? What level of care did she owe you?
✓ Sole benefit of the bailee-a high degree of care
You stumble upon a genuine Rolex watch lying on the ground in the Hull
Street parking deck
How would you categorize the watch?
What if you had found the watch on the bathroom counter of Correll Hall?
What if a UGA baseball player tossed the watch into a crowd
✓ -lost; follow the statutory procedures
✓ -mislaid property
✓ -abandoned property
Master01 | October, 2024/2025 | Latest update
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