GENB 4350 Final Exam | Questions and Answers

GENB 4350 Final Exam | Questions and Answers Angela is in good health and sound mind when she gives Brianna a quarter horse. Brianna accepts. This is a gift a. by production. b. inter vivos. c. causa mortis. d. by accession. Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip of waterfront property. Northeast gives Manhattan a deed that conveys only whatever interest Northeast has in the strip. This deed is a. a warranty deed. b. a special warranty deed. c. a grant deed. d. a quitclaim deed. Rob steals a damaged, broken bike that is parked, unlocked, in a bike rack. He repairs, paints, and replaces parts on the bike until it is like new. The original owner, Sue, then claims it. The bike belongs to a. the state under an estray statute. b. Sue because Rob stole it. c. Rob because he improved it substantially. d. Rob and Sue as co-owners. Ernie, the owner of Fallow Farm, sells Gus a right to park his RV on Fallow land overnight. Gus's right is a. a fee simple absolute. b. a license. c. a profit. d. an easement. Invested Capital Corporation provides other firms with funds to expand operations. If Invested Capital strictly complies with existing laws, the firm's business ethics obligations will a. not be met. b. be entirely met. c. not need to be met. d. be partially met. Fact Pattern 48-1 Truck & Transfer Inc. agrees to pick up two containers for United Home Products Corporation and store their contents, to be delivered later. While Truck & Transfer unloads one container, the other disappears from the company's loading dock. Refer to Fact Pattern 48-1. Truck & Transfer can avoid liability a. under any circumstances. b. by proof that United Home was negligent in hiring TTC. c. by proof that Truck & Transfer was not negligent. d. by proof that Truck & Transfer's loading dock is in a high-crime area. In studying the business law, students also review ethics in a business context. Ethics includes the study of what constitutes a. right or wrong behavior. b. legal behavior. c. religious behavior. d. financially rewarding behavior. Oleg takes a PowerMade-brand rototiller to QuikFix Inc. for repairs. Lacking certain parts, QuikFix ships the rototiller to Repair & Parts Company. While in Repair & Parts's possession, the machine is damaged by its failure to exercise the appropriate degree of care. QuikFix can recover for the damage from a. Oleg. b. PowerMade. c. no one. d. Repair & Parts. Miranda delivers her bridesmaid's dress to Nina for alterations. Nina promises that the dress will be ready within five business days. Miranda agrees to pay the charge when she picks up the dress. This is a. not a bailment. b. an implied bailment. c. an involuntary bailment. d. an express bailment. In business deals, Fiona, the chief executive officer of Glazed Donuts, Inc., follows duty-based ethical standards. These are most likely derived from a. a corporate ethics code. b. a cost-benefit analysis. c. philosophical reasoning. d. the law. Gail, an inventor, has tools in her workshop. She has a patent on her most recent invention, a convection oven. She licenses the patent to Housewares, Inc. Her tangible personal property includes a. the tools. b. the license. c. all of the choices. d. the patent. Molly owns two houses. She allows her friend Nikki to live in one of them without paying rent. Nikki dies. Nikki's tenancy a. passes to her heirs for five years. b. passes to her heirs for one year. c. is terminated. d. passes to her heirs indefinitely. Car Wash Company has a right to direct its customers to drive their vehicles across Don's Gas n' Shop property, which is adjacent to Car Wash's facility. This right is a. a fee simple absolute. b. an easement. c. a profit. d. a license. Earth's Bounty Farms arranges to have Fresh Express, Inc., a common carrier, transport a load of almonds from California to Delaware. Greg is Fresh Express's driver. Fresh Express will not be liable to Earth's Bounty for failing to deliver the almonds on time if a. Fresh Express's truck is broken into and the almonds are stolen. b. Greg has to wait two days in Sacramento for the truck to be repaired. c. Fresh Express's dispatcher mistakenly delays Greg's departure. d. authorities are stopping and searching all trucks leaving California. Inadvertently, Ralph leaves his backpack at Sushi Café when he stops for lunch. The backpack is a. abandoned property. b. lost property. c. bailed property. d. mislaid property. Alexis sells half of her Triple A Ranch land to the Bar B Ranch. On the land is a reservoir. In the deed, Alexis retains the right to remove a limited amount of water per day from the reservoir. This right is a. a license. b. a profit. c. a fee simple absolute. d. an easement. Investment Properties Corporation conveys an office building to Jim with a deed that makes the greatest number of covenants and provides the most extensive protection against defects of title. This deed is a. a quitclaim deed. b. a special warranty deed. c. a warranty deed. d. a grant deed. Frank owns GuestHouse Hotel. His ownership rights include the right to sell or give away the property without restriction, as well as the right to commit waste, if he chooses. Frank's ownership interest is a. a profit. b. the power of eminent domain. c. a fee simple absolute. d. a life estate. Enrico leaves his Ford sport utility vehicle at Gordo's Auto Service for an oil change. This is a. confusion. b. a gift. c. a bailment. d. abandoned property. Cierra rents an apartment from Damian that floods whenever there is a heavy rain. Damian refuses to fix the problem. Damian has breached a. the covenant of quiet enjoyment. b. the concept of eminent domain. c. nothing. d. the implied warranty of habitability.