Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

One of the Christmas presents Kent and Karen bought for their 11-year-old son Reagan was a go-kart, which is a type of . Another name

One of the Christmas presents Kent and Karen bought for their 11-year-old son Reagan was a go-kart, which is a type of . Another name would be or . Had he wanted a Dallas Cowboys ceiling light for his room (which is a great idea, by the way), the light would needed to have been installed in such a fashion that it would cease being personal property, and would have become a . As it concerned its acquisition, the go-kart first was and then it was to Reagan. Had Reagan been given a Porsche Panamera instead of a go-kart (which is ridiculously awesome and wrong all at the same time), one way to accomplish that giftinside a housewould be to give Reagan the keys to the car, which is an example of or .

Reagan decided to put his go-kart up for sale, so he could use the money to buy a golden retriever. The method he attempted was an , more specifically the kind where he would be allowed to withdraw the go-kart from the bidding if the bids weren't satisfactory to him. This is known as an , and the auction ended without a sale. A few weeks later, Reagan couldn't remember where he had put his go-kart, which meant it was . Had he decided it wasn't worth having any longer and left it on the sidewalk for someone else to have, the go-kart would have been . Because Reagan drove the go-kart like it was a Porsche Panamera, it needed to be repaired, so Kent took it to a mechanic. Obviously, Kent wasn't giving the go-kart away, so the mechanic was a of the go-kart, instead of being a . This arrangement is known as a , because both parties are receiving something of value from the temporary transfer of possession.

When Kent went to the mechanic to pay the bill for the go-kart's repair, the shop owner told him that the go-kart had been stolen by a very small and lightweight man named Nolan, who had since been arrested. Nolan claimed he didn't actually steal it, but instead was just borrowing it to see how fast it went. Evidently, the go-kart was fast enough for Nolan to wreck. Regardless if Nolan was a thief, he qualified as a and was liable for the destroyed go-kart. Reagan took the money Nolan had to pay him and used it to buy the golden retriever he had wanted all along.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Problems In Contract Law Cases And Materials

Authors: Charles L. Knapp, Nathan M. Crystal, Harry G. Prince

9th Edition

1543801471, 978-1543801477

More Books

Students also viewed these Law questions

Question

The number of people commenting on the statement

Answered: 1 week ago

Question

Peoples understanding of what is being said

Answered: 1 week ago