Law of Finders

Question 1

Lost property remains the

Answer 1

Interest of the original owner

Question 2

A finder of lost property

Answer 2

has a right to the lost property that is good against the world except for the true ownerOnce the original owner is located, the finder must return the property to the original owner.

However, until the original owner is located, the finder has the right to posses and use the found property and to exclude others from possession and using it.

Question 3

The law of finders will not apply when

Answer 3

1) The finder is trespassing = instead the rule of finders applies to the owner of the property

2) The finder is in the Course of employment = the employer has the right to the lost property

Question 4

Mislaid property

Answer 4

is property that reasonably appears to be put somewhere on purpose then forgotten

For mislaid property, the finder does not have a possessory right, the owner of the place property was mislaid does

Question 5

Abandoned property

Answer 5

ceases to be the property of the original owner

Occurs when the owner has 1) The intent to abandon and 2) manifests that intent

Generally, the first person to take possession of the abandoned property becomes the owner of it

Question 6

The finder of property is a

Answer 6

Quasi bailee who has the right to prevent anyone who is not the true owner from interfering with her possessory right

Question 7

A quasi bailee has a duty to

Answer 7

1) locate the true owner through reasonable means
2) has a duty to keep the lost or mislaid property with due care

Question 8

Any lost or mislaid property is treated as abandoned

Answer 8

after 5 years and then quasi bailee then becomes true owner

Question 9

Ascension is

Answer 9

The application of labor materials to one’s personal property by another person

If individual A adds labor and/or materials to individual B’s property, the materials and the value added by the labor becomes the personal property of B.

However, when there is an uncertainty between two people about who owns an item of personal property, then the person who adds substantial value to it will become the owner through accession as long as that person is an innocent trespasser. (if person is a willful trespasser, the property is the true owners)

Question 10

Confusion

Answer 10

Occurs in cases where the personal property of different people is mixed together and it is difficult to distinguish one person’s property from someone else’s

If you know who contributed to the goods and you know in what proportion=
true owners own propionate shares of the goods

If you don’t know the proportion and confusion is innocent, owners share equally

If you don’t know the proportion and conduction is not innocent,
The person who wrongly caused the confusion must show his proportion and if he can’t do so then the innocent contributors will share everything equally including the goods put there who wrongfully caused the confusion.

Question 11

Adverse Possession

Answer 11

SOL for recovery of personal property is 5 years- Need ACOHE

Actual possession

Continuous through the 5 years period

Open and notorious - This is the biggest difference with real property, adverse possession will not be considered open and notorious - until the owner discovers, should have discovered who the adverse possessor is or until the owner makes a demand that the item be returned

Hostile

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