Business Law and the Regulation of Business 11th Edition by Richard Mann, Barry Roberts

Exercise 6

At the time of her death Olga Mestrovic was the owner of a large number of works of art created by her late husband, Ivan Mestrovic, an internationally known sculptor and artist whose works were displayed throughout Europe and the United States. By the terms of Olga's will, all the works of art created by her husband were to be sold and the proceeds distributed to members of the Mestrovic family. Also included in the estate of Olga Mestrovic was certain real property which 1st Source Bank (the Bank), as the Bank nor the Wilkins suspected that any works of art remained on the premises. During cleanup, however, the Wilkins found eight drawings and a sculpture created by Ivan Mestrovic to which the Wilkins claimed ownership based upon their agreement with the Bank that, if they cleaned the real property, they could keep such personal property as they desired. Who is entitled to ownership of the works of art?