Question 1

The creation of private property rights has been a contributing factor to China's strong economic growth.

Accepted Answer

A) True 
 B)False

Question 2

The primary purpose of retailers such as Wal-Mart is to sell personal property.

Accepted Answer

A) True 
 B)False

Question 3

Identify the correct statement about abandoned property.

Accepted Answer

A)  It is a category of personal property in which the owner has intentionally relinquished the property.
B)  It occurs when the owner voluntarily puts it in a particular place,intending to retain ownership,but then fails to reclaim it.
C)  It occurs when the owner involuntarily parts with it through neglect and does not know where it is.
D)  It is intentional,substantial interference with the chattel of another.
E)  It occurs when the owner unintentionally parts with it through inadvertence and does not know where it is.F) A) and D)
G) C) and D)

Question 4

Which of the following statements is true about a deed?

Accepted Answer

A)  It is a sworn statement in writing made under oath.
B)  It prohibits parties from transferring the rights conveyed by a contract to another party.
C)  It transfers rights conveyed by a contract to another party.
D)  It is a writing that conveys title to real property.
E)  It is a document that amends a previously executed will.F) A) and C)
G) A) and E)

Question 5

An) _____ is something that used to be personal property but has become attached to the land so that it is legally a part of the land.

Accepted Answer

A)  covenant
B)  chattel
C)  fungible
D)  fixture
E)  deedF) C) and D)
G) A) and B)

Question 6

What is fungible property? Give some examples.

Accepted Answer

Property that can easily be substituted ...

Question 7

A partition is a method of dividing real property.

Accepted Answer

A) True 
 B)False

Question 8

Scope of _____ matters because it determines what can or cannot)be done with the land.

Accepted Answer

The answer of Scope of _____ matters because it determines...

Question 9

Ouster is the constructive eviction of a lawful tenant.

Accepted Answer

A) True 
 B)False

Question 10

A bona fide purchaser is a purchaser who takes title in good faith,with no knowledge of competing claims to title.

Accepted Answer

A) True 
 B)False

Question 11

The concept of "finders keepers" is not applicable to a treasure trove.

Accepted Answer

A) True 
 B)False

Question 12

Moveable,tangible personal property is _____.

Accepted Answer

The answer of Moveable,tangible personal property is _____....

Question 13

What happens when someone dies intestate?

Accepted Answer

Intestate occurs when someone dies witho...

Question 14

Real estate is a term that refers to ownership interests.

Accepted Answer

A) True 
 B)False

Question 15

Leases generally must be in writing to be enforceable against the defendant.

Accepted Answer

A) True 
 B)False

Question 16

Residential leases typically last for longer periods of time than commercial leases.

Accepted Answer

A) True 
 B)False

Question 17

Any ownership interest in real property may be leased.

Accepted Answer

A) True 
 B)False

Question 18

Generally,the donor of a gift must intend to gift the property.

Accepted Answer

A) True 
 B)False

Question 19

There are no legal restrictions to the destruction of private property.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is true of private property?

Accepted Answer

A)  It cannot be owned by corporations.
B)  It can include real property like land.
C)  It can include personal property such as buildings.
D)  It can include computers owned by state governments.
E)  It cannot be owned by partnerships.F) A) and D)
G) A) and B)

Exam 8: The Property System

An) _____ is something that used to be personal property but has become attached to the land so that it is legally a part of the land.

Correct AnswerverifiedShow Answer

Residential leases typically last for longer periods of time than commercial leases.

Correct AnswerverifiedShow Answer

The concept of "finders keepers" is not applicable to a treasure trove.

Correct AnswerverifiedShow Answer

Generally,the donor of a gift must intend to gift the property.

Correct AnswerverifiedShow Answer

Which of the following statements is true of private property?

Correct AnswerverifiedShow Answer

Scope of _____ matters because it determines what can or cannot)be done with the land.

Correct AnswerverifiedShow Answer

Identify the correct statement about abandoned property.

Correct AnswerverifiedShow Answer

The creation of private property rights has been a contributing factor to China's strong economic growth.

Correct AnswerverifiedShow Answer

Leases generally must be in writing to be enforceable against the defendant.

Correct AnswerverifiedShow Answer

Ouster is the constructive eviction of a lawful tenant.

Correct AnswerverifiedShow Answer

Which of the following statements is true about a deed?

Correct AnswerverifiedShow Answer

A partition is a method of dividing real property.

Correct AnswerverifiedShow Answer

The primary purpose of retailers such as Wal-Mart is to sell personal property.

Correct AnswerverifiedShow Answer

There are no legal restrictions to the destruction of private property.

Correct AnswerverifiedShow Answer

Any ownership interest in real property may be leased.

Correct AnswerverifiedShow Answer

Moveable,tangible personal property is _____.

Correct AnswerverifiedShow Answer

Real estate is a term that refers to ownership interests.

Correct AnswerverifiedShow Answer

What is fungible property? Give some examples.

Correct AnswerverifiedProperty that can easily be substituted ...View AnswerShow Answer

What happens when someone dies intestate?

Correct AnswerverifiedIntestate occurs when someone dies witho...View AnswerShow Answer

A bona fide purchaser is a purchaser who takes title in good faith,with no knowledge of competing claims to title.

Correct AnswerverifiedShow Answer

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Property that can easily be substituted ...
View Answer

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Intestate occurs when someone dies witho...
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Correct Answer
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