Which of the following is an example of Personal Property? Choose all that apply

• House

• Car

• Piece of land

• Clothing

• Jewelry

What is the most common type of Bill of Lading?

• Negotiable Bill of Lading

• Straight Bill of Lading

• Air Bill of Lading

• Sea Bill of Lading

Which type of Warehouse Receipt is similar to a Negotiable Bill of Lading?

• Non-Negotiable Warehouse Receipt

• Negotiable Warehouse Receipt

• Straight Bill of Lading

• Air Bill

What does an Air Bill provide in the context of funeral service?

• The name of the deceased and the destination funeral home only.

• The name of the shipping funeral home, the receiving funeral home, and the name of the deceased.

• The name of the airline and the destination funeral home only.

• The name of the airline and the name of the shipping funeral home only.

What is a non-negotiable warehouse receipt?

• A document that allows the transfer of title to goods

• A receipt that requires the original copy to claim the goods

• A receipt for the goods that cannot be negotiated

• A contract that specifies conditions for the sale of goods

What is required for a negotiable warehouse receipt?

• The receipt must be signed by both parties

• The receipt must be lost or stolen

• The original copy must be presented to claim the goods

• The receipt must specify conditions that must be met before title passes

What is a conditional precedent in a sales contract?

• A condition that must be met after title passes

• A condition that must be met before title passes

• A condition that is not related to the title

• A condition that applies to non-negotiable receipts

What is the concept of estoppel in the context of transfer of title?

• It allows the transfer of title by the true owner only

• It prevents the title holder from contradicting previous claims against another

• It ensures that lost goods can be claimed by finders

• It is a condition that must be met before title can pass

What happens to stolen goods if the real owner is found?

• The real owner cannot claim the goods back

• The goods must be returned to the original owner

• The person who found the goods becomes the new owner

• The goods are considered lost and cannot be claimed

What is an example of transfer of money or commercial paper made out to Bearer?

• A check made payable to cash.

• A check made payable to a specific person.

• A check made payable to a corporation.

• A check made payable to a trust.