Property

Question 1

Explain the bailee’s duty of care.

Answer 1

Bailee must take reasonable care in light of the facts and circumstances. Bailee is absolutely liable for delivery to improper person and unauthorized use of property.

Question 2

What is the standard of liability that must be established to hold a warehouser liable for loss or damage to stored property?

Answer 2

Ordinary negligence

Question 3

What are the requirements for a valid deed?

Answer 3

• It must be in writing
• It must be signed by the grantor
• It must include a description of the land

Question 4

What are the three types of recording statutes?

Answer 4

Race, Notice, Race/Notice

Question 5

What is the race recording statute?

Answer 5

The first person to record the deed holds title and takes possession clear of any subsequently recorded liens or transfers.

Question 6

What is the notice recording statute?

Answer 6

The last BFP (buyer who does not know of any problem with the land) to take title from the grantor holds the actual title.

Question 7

What is race/notice?

Answer 7

The first BFP (buyer who does not know of any problem with the land) to record the deed takes title.