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Exam 8: The Property System

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Question 21

Multiple Choice

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Identify the best definition of real property.

A) It is property that cannot be owned by the government.
B) It is land and certain things that are attached to it.
C) It is all tangible property including land.
D) It is intangible property and land in realized form.
E) It includes moveable personal property.

F) A) and B)
G) C) and E)

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Question 22

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A landowner has a duty not to intentionally injure a trespasser.

A) True
B) False

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Question 23

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Which of the following is an example of a fungible good?

_____ is a clause that prohibits parties from transferring the rights conveyed by a contract to another party.

The Statute of Frauds requires all types of contracts to be in writing to be enforceable.

Grace is a photographer who sometimes sells her photos to friends.She has recently returned from an overseas vacation and immediately goes to the local camera store to get a couple rolls of film developed.What is the legal relationship between Grace and the camera store?

Any exception to a zoning ordinance would be granted through a ______.

Property that is owned by the _____ is public property.

What are fixtures? Give some examples.

Distinguish between real property and personal property.

An)_____ is a category of found property consisting of money or precious metals.

_____ is intentional,substantial interference with the chattel of another.

Reversion interest is a future interest in personal property.

Failure to warn a licensee of known defects may result in liability for the landowner.

Which of the following methods of acquiring property captures the deeply held belief that a land's value is in its use for profit?

Government enforcement and recognition of private property rights is a necessary condition for economic growth.

The prior appropriation doctrine grants the property owner adjacent to a water source rights to use the water.

Whether a covenant or easement runs with the land depends on:

Water rights are granted differently,depending on whether the property is in the western or the eastern United States.

Buying lumber and then building a garage with the lumber grants ownership by: