10 Questions
What legal relationship arises when personal property is borrowed, rented, stored, or found by a person other than its owner?
Constructive bailment
In a lucarative bailment, what happens between the parties involved?
Money or other payment changes hands.
Which type of bailment involves no exchange of money or payment?
Gratuitous bailment
What kind of ownership rights in land allows the owner to do as they wish, including transfer, sell, and dispose of it?
Fee simple
Which real property interest grants a temporary right to occupy real property?
Leasehold interest
When personal property is found by someone other than its owner, what kind of bailment applies?
Constructive bailment
Which type of bailment imposes particular obligations by statute on certain relationships?
Special bailment
What happens in a special bailment relationship?
Specific obligations are imposed by statute.
What does a life estate grant to the holder?
Ownership rights for life and then automatically transfer to another.
In which type of ownership can the owner do what they want with the land?
Fee simple
Learn about the rights and obligations of landlords and tenants under commercial leases, as well as the types of property insurance commonly used by businesses. This quiz is based on Canadian business law, focusing on property law and ownership rights.
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