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Chapter Quiz
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1
Personal property attached to real property may become a fixture.
A)True
B)False
2
A lease of personal property transfers the right to possess and use personal property of another for a specified period of time.
A)True
B)False
3
Personal property consists of anything land, buildings, and fixtures, while real property consists of anything that has a physical existence.
A)True
B)False
4
A person who accepts a bailment (the bailee) owes a duty to protect the property and to return it upon the completion of the bailment.
A)True
B)False
5
Johnny discovered a bicycle parked on his driveway when he woke up on Saturday morning. The bicycle had no license tag and no way of identifying the owner.
A)Johnny may be deemed to be a constructive bailee of the bicycle.
B)A bailment has been created by express contract, provided that the owner of the bicycle left a note on it asking Johnny to hold onto it for a short period of time.
C)A bailment has been created by implied contract, because Johnny now has exclusive possession and control over the bicycle.
D)Johnny may keep the bicycle, even if the true owner later claims the bicycle and demands its return.
6
A bailee of personal property must:
A)take care of the property entrusted to him.
B)receive compensation.
C)return the property at the termination of the bailment.
D)Both A and C
7
All of the following are true statements with respect to creation of a bailment except:
A)It may be created by express or implied contract.
B)It may be created with either personal or real property.
C)It is usually created when the owner of the property gives exclusive possession and control over it to another party.
D)The bailee must accept the property with the knowledge that the property must be returned to the owner.





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