Filters
Question type

Study Flashcards

Reference - Easement Dispute. Sally buys a house from Bob that borders on a lake. Her deed gives her the most complete estate a person may have. She is in her bathing suit sunning one day when her neighbor, Fred cuts through her yard. Sally tells him not to do that anymore. Fred informs her that he had previously purchased and properly recorded a right to cut across her yard to get lake access. Sally asks you what she should do to try to get rid of Fred because she doesn't like him cutting through her yard when she is sunning. What is the best advice you can give Sally regarding getting rid of Fred?


A) To call the police when he shows up because any rights he had, terminated when Sally bought the property.
B) To sell her property and move on because she has absolutely no hope.
C) To put up with Fred for one year because his interest could only last that long after her purchase.
D) To put up with Fred for three years because his interest could only last that long after her purchase.
E) To reach some sort of agreement with him, possibly by paying him to give up the easement.

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

Correct Answer

verifed

verified

A _____________ estate is granted for the lifetime of an individual with the right to possess the property terminating at the individual's death.


A) Conditional estate
B) Life estate
C) Leasehold estate
D) Future interest
E) Fee simple absolute

F) A) and D)
G) All of the above

Correct Answer

verifed

verified

In Germany land expropriated by the government reverts to its former owner if the property is no longer needed by the government.

A) True
B) False

Correct Answer

verifed

verified

When copyright is at issue, proof that an item is similar is not necessarily infringement.

A) True
B) False

Correct Answer

verifed

verified

The laws of intellectual property protect property that is primarily the result of mental creativity rather than physical effort.

A) True
B) False

Correct Answer

verifed

verified

A license is a right to use another's property that is temporary but not revocable.

A) True
B) False

Correct Answer

verifed

verified

The term _____________ rights references the right to enter onto property to remove underground materials.


A) Subsurface
B) Underground
C) Earth
D) Terrestrial
E) None of these, because there is no such right

F) D) and E)
G) A) and E)

Correct Answer

verifed

verified

Reference - Scuba Diving. Marcy invented a new type of mask for scuba divers that was not subject to fogging. She agrees to allow Jenny to manufacture and sell the mask. She receives a sum of money for every mask that Jenny sells. Marcy also entered into an agreement with Frank to allow him to sell the masks but only if he also purchased non-patented diving suits from Marcy. All parties proceeded to do very well with their sales. Which of the following describes the agreement between Marcy and Frank?


A) It is a legal tying arrangement.
B) It is a legal cross-licensing agreement.
C) It is an illegal tying arrangement.
D) It is an illegal cross-licensing agreement.
E) It is both a legal tying and a legal cross-licensing agreement.

F) A) and D)
G) A) and C)

Correct Answer

verifed

verified

Reference - Lottery Winnings. Frank, a hypochondriac who was also very compulsive, was having minor surgery to repair a bone spur on his foot. He had just purchased a lottery ticket for a chance at the grand prize of $30,000,000. Frank's girlfriend, Bubbles, went with him to the hospital. While in the waiting room, Frank said to her, "Bubbles, I may not make it out of this bone spur surgery. Take my lottery ticket. If I don't make it, I hope you win and live it up, but please don't get another boyfriend." Bubbles replied, "I could never be happy without you." A nurse saw and heard the whole exchange. Frank came out of the surgery just fine but with a sore foot. While he was recuperating, that evening, Bubbles watched the lottery drawing and discovered that Frank's ticket was indeed the winning ticket. She immediately moved out and collected the winnings. Frank saw her on television with her new boyfriend, George. She appeared to be very happy. He checked the numbers and discovered that she won off of his ticket. Frank says that the lottery money is his. Which of the following is true regarding rightful ownership of the lottery money?


A) Frank's gift was automatically revoked when he recovered, and the lottery ticket and any proceeds are validly his.
B) Although the gift was not automatically revoked on his recovery, Frank has the right to revoke the gift and recover the lottery proceeds.
C) The gift was not automatically revoked on his recovery and since Frank did not revoke the gift prior to Bubbles cashing the ticket, he has no rights to any funds.
D) Frank has the right to all funds only because Bubbles has a new boyfriend.
E) Frank has no rights because once he gave the ticket to Bubbles, he gave up all his rights to it.

F) A) and B)
G) D) and E)

Correct Answer

verifed

verified

Under the U.S. Constitution, private property may only be taken by the government if the government plans to develop the property itself for a public use such as for a school or a road.

A) True
B) False

Correct Answer

verifed

verified

Reference - Lottery Winnings. Frank, a hypochondriac who was also very compulsive, was having minor surgery to repair a bone spur on his foot. He had just purchased a lottery ticket for a chance at the grand prize of $30,000,000. Frank's girlfriend, Bubbles, went with him to the hospital. While in the waiting room, Frank said to her, "Bubbles, I may not make it out of this bone spur surgery. Take my lottery ticket. If I don't make it, I hope you win and live it up, but please don't get another boyfriend." Bubbles replied, "I could never be happy without you." A nurse saw and heard the whole exchange. Frank came out of the surgery just fine but with a sore foot. While he was recuperating, that evening, Bubbles watched the lottery drawing and discovered that Frank's ticket was indeed the winning ticket. She immediately moved out and collected the winnings. Frank saw her on television with her new boyfriend, George. She appeared to be very happy. He checked the numbers and discovered that she won off of his ticket. Frank says that the lottery money is his. Which of the following is true regarding Frank's statement at the hospital regarding Bubbles taking the ticket?


A) At that point he made a valid gift that could not be revoked.
B) He did not make a gift because he placed a condition on it.
C) He made an irrevocable gift at that time only if Bubbles never had another boyfriend; otherwise, she had to give the ticket and any resulting cash to Frank.
D) He made an irrevocable gift at that time if Bubbles refrained from having another boyfriend until she cashed the ticket; and, after the ticket was converted, the condition no longer applied.
E) None of these.

F) B) and D)
G) A) and D)

Correct Answer

verifed

verified

In the intellectual property arena, the term _____________ refers to the overall appearance and image of a product.


A) Product appearance
B) Trade dress
C) Design fabrication
D) Trade appearance
E) Product application

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

Correct Answer

verifed

verified

Property that the original owner has discarded is _____________ property.


A) Mislaid
B) Tossed
C) Discarded
D) Abandoned
E) Terminated

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

Correct Answer

verifed

verified

Reference - Scuba Diving. Marcy invented a new type of mask for scuba divers that was not subject to fogging. She agrees to allow Jenny to manufacture and sell the mask. She receives a sum of money for every mask that Jenny sells. Marcy also entered into an agreement with Frank to allow him to sell the masks but only if he also purchased non-patented diving suits from Marcy. All parties proceeded to do very well with their sales. Payments that Marcy would receive from Jenny for the sale of the mask are referred to as which of the following?


A) Profits
B) Receipts
C) Royalties
D) Payoffs
E) Illegal

F) A) and E)
G) A) and D)

Correct Answer

verifed

verified

Which of the following is needed for a valid gift?


A) Delivery
B) Donative intent
C) Acceptance
D) Delivery, donative intent, and acceptance
E) Delivery and donative intent, but not acceptance

F) C) and D)
G) All of the above

Correct Answer

verifed

verified

The owner of a _____________ estate possesses the same interest as the owner of a fee simple absolute, only this interest is subject to a condition that may result in termination of the interest.


A) Conditional estate
B) Life estate
C) Leasehold estate
D) Future interest
E) Fee simple absolute

F) None of the above
G) A) and B)

Correct Answer

verifed

verified

Reference - Easement Dispute. Sally buys a house from Bob that borders on a lake. Her deed gives her the most complete estate a person may have. She is in her bathing suit sunning one day when her neighbor, Fred cuts through her yard. Sally tells him not to do that anymore. Fred informs her that he had previously purchased and properly recorded a right to cut across her yard to get lake access. Sally asks you what she should do to try to get rid of Fred because she doesn't like him cutting through her yard when she is sunning. What type of estate did Sally purchase from Bob?


A) A life absolute estate
B) A conditional estate
C) A fee simple absolute estate
D) A limited estate
E) A subject estate

F) All of the above
G) B) and D)

Correct Answer

verifed

verified

Which of the following is false regarding property interests in Vietnam?


A) The constitution asserts that the state owns all the land.
B) If an individual wants to use land, he or she must pay tax on it as a form of rent.
C) Transference of property can occur only with the approval of a state official.
D) A new owner can never be given a longer term of right or more extensive rights over the land than the original owner had.
E) The transferring owner determines the price for which property will be transferred.

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

Correct Answer

verifed

verified

To be protected in ____________ use, a trademark must be registered with the U.S. Patent Office under the Lanham Act of 1947.


A) Interstate
B) Intrastate
C) Interstate and intrastate
D) Commercial
E) Interstate, intrastate and commercial

F) C) and D)
G) A) and D)

Correct Answer

verifed

verified

An invention may be considered a trade secret.

A) True
B) False

Correct Answer

verifed

verified

Showing 41 - 60 of 82

Related Exams

Show Answer