Which of These Statements Most Nearly Defines Personal Property

question 25

Multiple Choice

Which of these statements most nearly defines personal property?

• A) trees in a forest
• B) stock sold to bring water on the land of a group of landowners who have formed their own company
• C) an unharvested peach crop sold to canning factory
• D) the right to cross over someone else's property

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Definitions:

Conditional Gift

A present or donation given with specific stipulations that must be met for the recipient to retain the gift.

Gift Revoked

The act of withdrawing or cancelling a gift before it has been transferred to or accepted by the intended recipient.

Immediate Death

Death that occurs instantly or very shortly after an event, such as an accident or attack, without any significant intervening time.

Statute Of Frauds

State-level legislation that addresses the enforceability of contracts that fail to meet the requirements set forth in the statute; serves to protect promisors from poorly considered oral contracts by requiring that certain contracts be in writing.