*Losing Property-Abandonment

Question 1

Abandonment Takeaway:

Answer 1

aff’tive acts of conscious intention to relinquish prop right required
2) FT: there is no practical reason to affirmatively abandon potentially recoverable prop—aff’tive abandonment threshold should be relaxed to a implicit abandonment standard

Question 2

Law of finds:

Answer 2

finder of abandoned prop has full rights; true owner>finder>all other claimants
a) Columbus claims that insurer abandoned prop

Question 3

Law of salvage:

Answer 3

assumes prop is owned absent affirmative evidence of abandonment; but salvor entitled to award

a) Encourages finding lost items because of salvage award and coming to aid before item is lost
b) Columbus

Question 4

Columbus:

Answer 4

gold in sunken ship; insurer sues salvor for value insurers didn’t affirmatively abandon; insurers own prop but salvors entitled to portion of recovery (large – 90%)