Commercial Leases and Property Insurance in Canadian Business Law
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Questions and Answers

What legal relationship arises when personal property is borrowed, rented, stored, or found by a person other than its owner?

  • Constructive bailment (correct)
  • Gratuitous bailment
  • Special bailment
  • Lucrative bailment

In a lucarative bailment, what happens between the parties involved?

  • Specific obligations are imposed by statute.
  • Money or other payment changes hands. (correct)
  • No money or payment changes hands.
  • The bailor loses personal property.

Which type of bailment involves no exchange of money or payment?

  • Constructive bailment
  • Gratuitous bailment (correct)
  • Special bailment
  • Lucrative bailment

What kind of ownership rights in land allows the owner to do as they wish, including transfer, sell, and dispose of it?

<p>Fee simple (A)</p> Signup and view all the answers

Which real property interest grants a temporary right to occupy real property?

<p>Leasehold interest (C)</p> Signup and view all the answers

When personal property is found by someone other than its owner, what kind of bailment applies?

<p>Constructive bailment (D)</p> Signup and view all the answers

Which type of bailment imposes particular obligations by statute on certain relationships?

<p>Special bailment (A)</p> Signup and view all the answers

What happens in a special bailment relationship?

<p>Specific obligations are imposed by statute. (D)</p> Signup and view all the answers

What does a life estate grant to the holder?

<p>Ownership rights for life and then automatically transfer to another. (D)</p> Signup and view all the answers

In which type of ownership can the owner do what they want with the land?

<p>Fee simple (B)</p> Signup and view all the answers

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