Indicate whether each of the following statements is true or false by writing T or F in the answer column.
1. A bill of sale must be prepared on a specific legal form. 1. ___________
2. Title is proof of ownership as shown by a bill of sale. 2. ___________
3. Personal property is land and anything attached to it. 3. ___________
4. A straight bill of lading is an instrument used to collect money owed. 4. ___________
5. The general rule of law regarding the passing of title is that title passes when the parties intend it to pass. 5. ___________
6. A handwritten bill of sale may be an effective legal document. 6. ___________
7. Estoppel is a legal principle that can prevent an owner from recovering his or her own property under certain circumstances. 7. ___________
8. An air-bill is similar to a bill of lading except that it covers a shipment made by air.
8. ___________
9. Conditions precedent are required acts that must be performed before title passes.
9. ___________
10. A person who finds an article has good title against anyone else except the true owner.
10. ___________
11. The owner of cash who entrusts it to another cannot demand the return of the money from a third party to whom the money was given in exchange for something of value.
11. ___________
12. Title to goods can never pass to another without the consent of the owner.
12. ___________
13. Conditions subsequent are required acts that must be performed after a contract is signed. 13. ___________
14. Title to fungible goods passes when they are delivered. 14. ___________
15. The owner of personal property cannot recover it from an innocent third party who purchased it from a seller in possession of the property and who was entrusted with proof of ownership by the real owner. 15. ___________

  • CreatedOctober 01, 2015
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