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</p> Signup and view all the answers

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

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

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

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

    What happens in a special bailment relationship?

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

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