Solved

As the Owner of the Realty on Which Ed Left

Question 78

Multiple Choice

As the owner of the realty on which Ed left his wallet,what are Larry's property rights as they relate to Ed's wallet?


A) Larry has no rights to the wallet and is obligated to either find Ed and return it or turn the wallet over to the proper authorities.
B) Larry has the right to hold Ed's wallet until Ed returns to the store to claim it,but may not sell it or otherwise transfer it to another person.
C) Larry has the right to give the wallet to another person as a gift,but may not receive consideration in return for the transfer.
D) Larry has the right to keep the wallet for his own personal use,as he is the owner of the realty on which Ed left the wallet.
E) Larry has the right to sell the wallet immediately,because he is a merchant of goods of that kind.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents