The Property System

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Question 1

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Upon the death of a joint tenant, his interest automatically transfers to the other tenants.

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Question 2

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Easements by prescription pertain only to land around hospitals.

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Question 3

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Property is the legal right to exclude others from resources that are originally possessed or are acquired without force, theft, or fraud.

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Question 4

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Private property is a system of law under which the state recognizes and enforces an individual's rights to acquire, possess, use, and transfer scarce resources.

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Question 5

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A fee simple absolute represents restricted, limited ownership of personal property.

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Question 6

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Zoning laws apply to types and locations of physical structures but not to aesthetic characteristics such as color and exterior design.

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Question 7

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In a bailment for the sole benefit of the bailor, the bailee owes a very high duty of care.

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Question 8

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Zoning ordinances are implemented through a state or local government's police powers.

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Question 9

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Common carriers are not responsible for acts of God or of public enemies.

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Question 10

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Mike repaired Rosie's car and Rosie refused to pay the bill. Mike was still in possession of the car and therefore could claim a mechanic's lien on the car.

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Question 11

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The right of redemption allows a mortgagor, before foreclosure, to get back land upon payment of the full amount of the debt.

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Question 12

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No bailment has been formed if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag.

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Question 13

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A purchase money security interest creates a perfected interest without the need to put a document on public record.

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Question 14

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House-sitting would be an example of a bailment because you are in temporary possession of someone's house with the intention to return full possession to the owners upon their return.

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Question 15

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Property ownership helps generate prosperity by establishing the conditions necessary for capital formation.

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Question 16

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A buyer in an ordinary course of business has priority over a perfected security interest.

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Question 17

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The women in the house next to you party all the time and keep you up most nights. They are creating a public nuisance.

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Question 18

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Indirect taxes like the progressive income tax are authorized by the Bill of Rights.

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Question 19

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Ken is having a bad morning. He has to go to work and can't find his car keys. After searching for 20 minutes, he finds them in the pocket of the jeans he wore the previous day. The keys would have been considered lost until he found them.

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Question 20

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Through the government's power of eminent domain, it can take private property for "public use," upon the payment of "just compensation."

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