Which of the following statements is correct with respect to the person who is entitled to found property?
A) You only have a claim to personal property you find if it is a chose in action.
B) When a person finds valuable property, he must turn it over to the police, and if the rightful owner is not found, the property goes to the government.
C) When a person finds a valuable watch in a public place, he is entitled to that property over everyone else except the rightful owner.
D) When a person finds a valuable watch in a public place, he is entitled to that property over everyone else including the rightful owner.
E) When an employee finds an item of lost property on the premises of his employer, he is entitled to that lost property if the rightful owner cannot be found.

Question

Quizplus · Accepted Answer

When a person finds a valuable item in a public place, he is entitled to that property over everyone else except the rightful owner. This is the principle of 'finders keepers' in common law, which dictates that the original owner retains the right to claim the property as long as he can prove ownership. If the rightful owner does not claim the property after a certain period of time, the finder may be able to claim it as his own under the legal principle of 'adverse possession.' However, if the item was found on an employer's premises, the employer may have a claim to the lost property under the legal principle of 'vicarious possession.'

Which of the Following Statements Is Correct with Respect to the Person