FINAL TEST C. 15

In some states, all property acquired during a marriage is presumed to be community property and a one-half interest in such property is owned by

Which of the following is considered a type of intellectual property?

A unique word, mark, or symbol identifying products is called a servicemark.

Trade secrets are

When Ed opens his own carpet-cleaning business, he creates a unique symbol that distinguishes his company from other carpet-cleaning companies. This unique symbol is known as a(n)

On Janette's 16th birthday, her grandmother, Mildred, gives her a box containing a family heirloom necklace. Upon giving her the box, Mildred says, "This is yours now. On your granddaughter's 16th birthday, you should pass this family heirloom on to her." In this situation Mildred is a(n)

A patent is good for ____________________ years and is not renewable.

Gathering shells on a public beach is acquisition by

A form of co-ownership limited to husband and wife is known as

A form of ownership that carries the right of survivorship is

Bill, a bachelor, has purchased gold-plated baseball cards on a monthly basis for three years. Bill is the exclusive owner of this collection. Which of the following terms correctly identifies his type of ownership?

Property intentionally placed somewhere but then forgotten is referred to as mislaid property

Jaime wants to upgrade his computer so he takes it to a local retailer. The retailer, however, confuses Jaime's order with another customer's order and inadvertently adds more RAM than Jaime wanted, adds a modem, and increases the megahertz. Jaime's right to the increased value in his personal property is known as

Any kind of property may be acquired and transferred by contract

Occupancy is a means of acquiring abandoned property.

While eating at your favorite restaurant, your napkin slips from your lap. You bend down to retrieve it and find a diamond necklace on the floor under the edge of your booth. Which of the following statements is correct?

A gift given "causa mortis" is one given

When one person owns all of the property involved it is legally termed

Allowing the public to use a trademark as a descriptive generic term or permitting competitors to refer to similar products by the trademark may cause the original owner to

Which of the following is not a way of acquiring real property?

Ownership of natural or man-made increases to personal property is acquired by

Which of the following statements is untrue?

Which form of ownership allows the shares to be divided unequally and does not have a right of survivorship?

Property can be either tangible or intangible.

A divorce or separation usually transforms a tenancy by the entireties into a(n)