BUSINESS LAW II
Chapter 16 -- Property
Chapter Questions
Name ______________________________________________
Date __________________________
Period __________
_____________
25 pts. possible
1.
_____
A sewage-disposal system was installed in a small town
in order to eliminate the need for septic tanks. The
system was paid for initially through borrowing by the
local government. Then the bonds were paid off over 20
years by __ against the benefited real property.
2.
_____
For use in making holiday decorations, Jack and Jill Frost
picked up a bushel basket of pinecones from the ground
in a local forest. They took title to the pinecones by __.
3.
_____
Payton Brush painted an original poster in fluorescent
colors and protected his rights to it by getting a __.
4.
_____
After a rock festival, members of the Boy Scouts and Girl
Scouts picked up thousands of aluminum cans for
recycling. The cans were __, a type of __.
and
_____
A – abandoned property
B – accession
C – assessments
D – contract
E – copyright
F – gift
G – inheritance
H – occupancy
I – patent
J – personal property
K – property
L – real property
M – trade secret
N – trademark
5.
_____
Before he died, a famous oil billionaire transferred much
of his property to a nonprofit art museum by __.
6.
_____
When he died, the remainder of the famous billionaire’s property went to his heirs by __.
7.
_____
Some of humankind’s most important tools, such as the wheel, the lever, and the knife, have
never been exclusive monopolies under government __.
8.
_____
Millions of acres of land are used to produce crops of corn and wheat that belong to the
landowners by __.
9.
_____
The company that relies on a __ instead of a patent risks having someone discover (legitimately
and illegitimately) discover how to duplicate the product and then compete for sales.
A person who goes on a “buying spree” acquires property by __.
10. _____
11.
T
F
All property can be touched or felt.
12.
T
F
When a tenant in common dies without leaving a will, his or her interest in the property goes
to his or her heirs.
13.
T
F
The gift of an engagement ring is conditional upon the couple getting married to one another.
14.
T
F
If several people own one piece of property, the property is held in severalty.
15.
T
F
The interests of tenants in common in property are always equal.
16.
T
F
Under some circumstances, a donor can demand the return of conditional gifts.
17.
T
F
When a joint tenant dies without leaving a will, his or her interest in the property goes to his or
her heirs.
18.
T
F
The government can seize and destroy private property, such as contaminated food, that is
dangerous to the public health.
19. _____
After their marriage, the Bowies became residents of San
Francisco, California. The first major purchase they made
with money both had earned was a refrigerator/freezer.
20. _____
As a tax shelter, Schaeffer, Overholser and Block
invested in an apartment house. Schaeffer owns 50
percent; Overholser and Block own 25 percent each.
They do not have a right of survivorship.
21. _____
To help improve his basketball game, LeBron bought a
videotape recorder. Now he records the best teams in
action and then studies the tactics and techniques of the
stars.
22. _____
Carrie Less found a lost or mislaid copy of a law textbook
yesterday and decided to keep it.
23. _____
Hickock and his wife, who live in Colorado, own their mobile home as co-owners with the right of
survivorship.
24. _____
The five Quintano children, none of whom is married, bought a cabin at a nearby lake, each
having an equal interest and right of survivorship.
A – community property
B – joint tenancy
C – severalty
D – tenancy in common
E – tenancy by the
entireties
F – none of the above