14-15 Personal Property

Question 1

All property which is not real property
Moveable property
Interests less than complete ownership in land or rights to property

Answer 1

Personal property

Question 2

Anything that may be owned

Answer 2

Property

Question 3

Personal property that can be seen, touched, or grasped

Answer 3

Tangible personal property

Question 4

• evidences of ownership of personal property, such as stock of corporations, checks, copyrights
• evidences of ownership of rights of values

Answer 4

Intangible personal property

Question 5

Ownership by payment

Answer 5

Purchase

Question 6

• an instrument executed with required formality by a person making disposition of his or her property to take effect upon his or her death
• document providing disposition of property after death

Answer 6

Will

Question 7

A personal who dies without leaving a will

Answer 7

Intestate

Question 8

Transfer of ownership of property without consideration

Answer 8

Gift

Question 9

Person who makes a gift

Answer 9

Donor

Question 10

Person who receives a gift

Answer 10

Donee

Question 11

Acquisition of title to property that is attached to property already owned

Answer 11

Accession

Question 12

• inseparable mixing of goods of different owners
• mixing of goods of different owners that under certain circumstances results in one of the owners becoming the owner of all the goods

Answer 12

Confusion of goods

Question 13

Bringing property into actual being

Answer 13

Creation

Question 14

Property produced by human innovation and creativity

Answer 14

Intellectual property

Question 15

Absolute title to invention for 14 or 20 years

Answer 15

Patent

Question 16

Exclusive rights given to author of songs, books, and compositions

Answer 16

Copyright

Question 17

Word, symbol, device, or combination of them used to identify and distinguish the source of goods

Answer 17

Trademark

Question 18

Secret, economically valuable information

Answer 18

Trade secret

Question 19

Property discarded with no intention to reclaim

Answer 19

Abandoned property

Question 20

To discard personal property with no intention to reclaim

Answer 20

Abandon

Question 21

Property unintentionally left with no intention to discard

Answer 21

Lost property

Question 22

the transfer of possession, but not the title, of personal property by one party to another, under agreement or condition that property will be returned

Answer 22

Bailment

Question 23

The party who gives up possession, but not the title, of personal property in a bailment

Answer 23

Bailor

Question 24

The party who acquires possession, but not the title, of personal property in a bailment

Answer 24

Bailee

Question 25

Bailment imposed when a person finds and takes control of lose property

Answer 25

Constructive bailment

Question 26

Tangible personal property left as security for a debt

Answer 26

Pawn

Question 27

Intangible property serving as security for a debt

Answer 27

Pledge

Question 28

- unauthorized exercise of ownership rights - obtaining possession of property and converting it to one’s own use

Answer 28

Conversion

Question 29

Transporter of goods, people, or both

Answer 29

Carrier

Question 30

- those who transport only in particular instances and only for those they chose to contract with - carrier that transports under special arrangements for a fee

Answer 30

Private carrier

Question 31

- any carrier required by law to convey passengers or freight without refusal if the approved fare or charge is paid (i.e. airline, train, etc.) - one that undertakes to transport without discrimination all who apply for service

Answer 31

Common carrier

Question 32

One who ships goods by common carrier

Answer 32

Consignor

Question 33

One to whom goods are shipped by common carrier

Answer 33

Consignee

Question 34

- a contract existing between the consignor (shipper) and the carrier - receipt and contract between consignor and carrier regarding terms of the contract of transportation

Answer 34

Bill of lading

Question 35

Contract between and shipper and carrier requiring delivery of shipped goods only to consignee

Answer 35

Straight bill of lading

Question 36

Contract allowing delivery of shipped goods to bearer

Answer 36

Order bill of lading

Question 37

Articles necessary for personal convenience while traveling on common carriers

Answer 37

Baggage

Question 38

One engaged in business of offering lodging to transient

Answer 38

Hotel keeper

Question 39

Person in business to supply accommodations to permanent lodgers or boarders, as distinguished from transient guests

Answer 39

Boardinghouse keeper

Question 40

Transient received y hotel for accommodations

Answer 40

Guest