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Unit 4 Review 1-20
Test Description: Unit 4 Review
Instructions: Answer all questions to get your test result.
1) Ownership of natural or man-made increases to personal property is acquired by
A
accession
B
adoption
C
annexation
D
adaptation
2) The most important factor for determining fair use might be
A
the ability of the user
B
the amount of use
C
the economic impact of the use
D
the manner of use
3) Using a trademark as a descriptive generic term or permitting competitors to refer to similar products by the trademark may cause the original owner to
A
lose the right to the trademark
B
eliminate the trademark
C
increase income from the trademark
D
share ownership of the trademark
4) Trade secrets are
A
important ideas or knowledge that cannot be copyrighted or patented
B
an advertising gimmick
C
the tools of the trade
D
commercially valuable tradable secrets
5) Gathering shells on a public beach is acquisition by
A
occupany
B
accession
C
adoption
D
adaptation
6) When Ed opens his own carpet cleaning business, he creates a unique symbol that identifies his company from other carpet cleaning companies. This unique symbol is known as a(n)
A
patent
B
trade secret
C
servicemark
D
copyright
7) Which of the following statements is untrue?
A
An author can transfer ownership of his copyright to others
B
Copyrights owned by the creator last only for his lifetime
C
A trade secret is commercially valuable information
D
Intellectual property is purely intangible
8) While removing her mink coat before dinner, Jody is unaware that her diamond necklace has fallen to the floor. What is true of the diamond necklace that fell off her neck?
A
It is lost property; you need not return it to Jody
B
It is mislaid property; if you find it you must return it to Jody
C
It is lost property; if you find it, you must return it to Jody.
D
It is mislaid property; you need not return it to Jody
9) Elements of bailment do not include
A
possession and control of the goods by the bailee
B
return of identical or fungible goods
C
personal property
D
real property
10) Bailment ends when
A
the agreed purpose has been achieved
B
any of these
C
the parties mutually agree to end it
D
the agreed time has elapsed
11) A mutual-benefit bailment, in which consideration is given and received by both bailor and bailee, invokes the duty of
A
ordinary care
B
minimal care
C
extraordinary care
D
none of these
12) Involuntary bailments, which arise without the consent of the bailee, call for
A
extraordinary care
B
any of these
C
ordinary care
D
minimal care
13) A bailment for the sole benefit of a bailor calls for
A
ordinary care
B
extraordinary care
C
any of these
D
minimal care
14) The nature of the bailee's duty of care may be modified by
A
disclaimer
B
all of these
C
legislation
D
contract
15) An industry may seek to avoid the duty of care established by the common law by
A
disclaimer
B
contract
C
legislation
D
none of these
16) If Antonio rents a car for one week from Rent-A-Car at a price of $109.25, what type of bailment was created?
A
ordinary bailment
B
involuntary bailment
C
mutual-benefit bailment
D
extraordinary bailment
17) When Yu-lan borrows Ned's van without paying Ned any money for the use of the van, what type of bailment exists?
A
extraordinary bailment
B
none of these
C
mutual benefit bailment
D
gratuitous bailment
18) Which of the following is a common means in which to amend the bailee's duty of care?
A
legislation
B
law suit
C
contract
D
both contract and legislation
19) Which of the following is true regarding minimal care?
A
minimal care means the bailee will be strictly liable for any damages, loss, or injury to the goods
B
Minimal care means the bailee must not ignore, waste, or destroy the bailed property
C
the bailee must make every effort to identify the owner of the goods
D
minimal care is voluntary
20) After you leave for vacation, your dog digs a hole under the fences and escapes. Your neighbor finds your dog and takes care of it until you return. What type of bailment exists in this situation?
A
involuntary bailment
B
constructive bailment
C
none of these
D
voluntary bailment
*select an answer for all questions
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