how reliable is js hasownproperty code example

Example 1: javascript hasownproperty

var person = {	
  	"first_name": "Bob",
	"last_name": "Dylan"
};
person.hasOwnProperty('first_name'); //returns true
person.hasOwnProperty('age'); //returns false

Example 2: how reliable is js hasownproperty

o = new Object();
o.propOne = null;
o.hasOwnProperty('propOne');   // returns true
o.propTwo = undefined;  
o.hasOwnProperty('propTwo');   // returns true