Personal Property- Finders

Question 1

Finders

Answer 1

this refers to the principle that a person who finds lost personal property can claim ownership against all except to the true owners or those with a superior right to it.

Question 2

Four categories of “found” chattels:

Answer 2

1. Lost property
2. Mislaid property
3. Abandoned property
4. Treasure trove

Question 3

Lost property

Answer 3

owner unintentionally and involuntarily parts with it.
- finder gets property unless true owner shows up.

Question 4

Mislaid property

Answer 4

2 prong test: property is mislaid when owner (1) voluntarily and knowingly places it somewhere and (2) unintentionally forgets it.
- the finder gets property

Question 5

Abandoned property

Answer 5

Property is abandoned when owner knowingly relinquishes all right, title, and interest to it.
- finger gets property

Question 6

treasure trove

Answer 6

property is treasure trove when the owner concealed it in a hidden location long ago.
- most courts reject this doctrine and give property to landowner (locus in quo)
-treasure trove is limited to gold, silver, coins or currency.

Question 7

Statutory approaches to found property

Answer 7

The typical statute requires the finder to (1) notify the police or other gov officials (2) deposit the found article with then and (3) publish native of the find

Question 8

Who is the Bailor?

Answer 8

Person who delivers the chattel

Question 9

Who is the Bailee?

Answer 9

Person who receives the chattel

Question 10

3 Types of Bailment- Finder is a Bailee

Answer 10

1. benefit of the bailor
2. benefit for both the bailor and bailee
3. benefit of the bailee

Question 11

Benefit of the Bailor

Answer 11

Bailee is liable only if the property is damaged because of gross negligence or bad faith

Question 12

Mutual benefit of both the bailer and bailee

Answer 12

reasonable care is required

Question 13

Benefit of the bailee

Answer 13

extraordinary care is required