
unravel the answers given by students to ethical questions. This process becomes even more rigorous
when students are given a choice as to which ethical to apply to their analysis (market value ethics,
Questions for Review and Discussion
1. Tangible personal property consists of goods, such as furniture, appliances, books clothing,
2. When personal property is owned solely by one person, it is said to be owned in severalty. When
it is owned by more than one person, it is said to be held in cotenancy. The types of cotenancies
discussed here are tenancy in common, joint tenancy, and community property. When two or more
people own personal property as tenants in common, each cotenant’s share of the property passes to his
3. Someone who finds lost property may claim ownership of it after a reasonable effort is made to
find the owner without success. Property found on the counter of a store, or on a table at a restaurant is
misplaced because it is reasonable to assume that the owner will remember where it is and return to