2023 1 A gift that is made in contemplation of death is known as a n | Assignments Online

1 A gift that is made in contemplation of death is known as a(n) ________.

2 ________ is a method of acquiring ownership, when a manufacturer purchases raw materials and then manufactures a finished good.         
 

3 Carmen, Westbrook, and Ashton are concurrent owners of a large commercial building. Ashton executes a will that leaves all his property to his son in the event of his death. But after Ashton passes away, his ownership interest in the building was acquired by the two remaining tenants of the building. Which of the following kinds of concurrent ownership would allow such a passage of title?

4 The voluntary transfer of title to property without payment of consideration by the donee is known as a(n) ________.

 

 

 

 

 

 

 

 

 

 

 

 

1 A gift that is made in contemplation of death is known as a(n) ________.
C. gift causa mortis
2 ________ is a method of acquiring ownership, when a manufacturer purchases raw materials and then manufactures a finished good.
C. Producing
3 Carmen, Westbrook, and Ashton are concurrent owners of a large commercial building. Ashton executes a will that leaves all his property to his son in the event of his death. But after Ashton passes away, his ownership interest in the building was acquired by the two remaining tenants of the building. Which of the following kinds of concurrent ownership would allow such a passage of title?
D. a joint tenancy
4 The voluntary transfer of title to property without payment of consideration by the donee is known as a(n) ________.
B. gift

 

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1 _______ represent rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, and copyrights.

2 ________ occurs if two or more persons commingle fungible goods.

              
 
3 What does the Uniform Transfers to Minors Act establish?

 

4 The legal rights that the owner has to possess, use, and enjoy the property are known as ________.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 _______ represent rights that cannot be reduced to physical form, such as stock certificates, certificates of deposit, bonds, and copyrights.
C. Intangible properties
2 ________ occurs if two or more persons commingle fungible goods.
A. Accession
3 What does the Uniform Transfers to Minors Act establish?
B. procedures for adults to make gifts of money and securities to minors
4 The legal rights that the owner has to possess, use, and enjoy the property are known as ________.
D. easement rights

 

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1 Which of the following forms of co-ownership of real property applies only to married couples?

2 ________ are an example of real property.

3 Shelton Engines Inc. has built a new model of engines that can withstand more heat than the competing engines in its class. Lokin Inc., a sports car manufacturer, ________ the equipment from Shelton Engines Inc. for $1,000,000. Shelton Engines Inc. transfers title to the engine to Lokin Inc. Lokin Inc. is now the owner of the equipment.

 

4 The voluntary transfer of title to property without payment of consideration by the donee is known as a(n) _____

1 Which of the following forms of co-ownership of real property applies only to married couples?
A. community property
2 ________ are an example of real property.
D. Buildings
3 Shelton Engines Inc. has built a new model of engines that can withstand more heat than the competing engines in its class. Lokin Inc., a sports car manufacturer, ________ the equipment from Shelton Engines Inc. for $1,000,000. Shelton Engines Inc. transfers title to the engine to Lokin Inc. Lokin Inc. is now the owner of the equipment.
B. purchases
4 The voluntary transfer of title to property without payment of consideration by the donee is known as a(n) ________.
B. gift

1. Which of the following is the best description of the Statute of Frauds?
A Only written contracts are enforceable.
B All written contracts must have definite and certain terms.
C Only certain types of contracts need to be in writing.
D If a written agreement is available, it is the only evidence admissible to prove the terms of that agreement.

2. Based upon the reading in the hornbook, what would be the likely result of casebook problem 18 in chapter 13, Section 5?
A. I don’t have the hornbook
B. No, because D’s promise was an oral suretyship agreement.     
C. Yes, because D’s promise was original since TP did not become liable to C and, therefore, there was no suretyship relationship between D and C.
D. Yes, because C delivered the goods.

              
3. No, because C manifested an intent not to treat TP as her debtor.
Regarding the contracts not performable within a year provision of the Statute of Frauds, which of the following statements is true?
A It applies to any agreement where complete performance does not actually occur within one year for the time the agreement was entered into.
B It applies to any agreement that might not be completed within a year.
C It applies if the contract is to pay a sum at the death of a named person.
D The test is not how long the performance will take, but instead when it will be complete

4. Based upon your reading of the Ehrlich v. Diggs case, which statement best describes California law on the issue of the one-year rule?
A Full performance by both parties is required to exempt an oral contract from the Statute of Frauds.
B Oral contracts terminable within one year by either party are exempt from the Statute of Frauds.
C The “center of gravity” test applies.
D Since the contract was not completed with a year the Statute of Frauds did not apply.

1. Regarding the contracts for sale of goods provision of the Statute of Frauds, which of the following statements is not true?
A It applies to sale of goods only if priced at $500 or more.
B It applies to sale of goods only if the “goods” were manufactured and sold by the manufacturer.
C The UCC allows an exception as to “goods for which payment has been made and accepted.”
D The UCC allows an exception if the party against whom enforcement is sought admits in a pleading that a contract for sale was made.
 
2. Based upon the reading in the hornbook, what would be the likely result of casebook problem 18 in chapter 13, Section 5?
A. I don’t have the hornbook
B. No, because D’s promise was an oral suretyship agreement.     
C. Yes, because D’s promise was original since TP did not become liable to C and, therefore, there was no suretyship relationship between D and C.
D. Yes, because C delivered the goods.

3. Regarding the contracts for sale of land provision of the Statute of Frauds, which of the following statements is true?
A The doctrine of part performance is an exception.
B The “interests in land” subject to the Statute of Frauds does not include easements.
C A promise to give a lien on land as security for money loaned is not regarded as an “interest in land” and thus not subject to the Statute of Frauds.
D Agreements for the sale of annual crops, obtained by the cultivation of humans, are subject to the Statute of Frauds if the agreement was made while the crops are still attached to the land because these crops are considered “interests in land.”

4. Regarding the contracts in consideration of marriage provision of the Statute of Frauds, which of the following statements is true?
A The Statute of Frauds applies to any agreement made on consideration of marriage, except mutual promises to marry. 
B The Statute of Frauds does not apply to a promise made by a third party in consideration of two other persons.
C The Statute of Frauds applies if the promise is made merely in contemplation of marriage.
D This Statute of Frauds does not apply to a promise to support the child of the prospective spouse.