Question

Nick decides to keep his collection of gold coins safe by burying them in an unmarked box under a tree. After Nick's death, Amy finds the gold coins. What are Amy's rights to the coins?

Question 33 options:

	Amy owns the coins because she found them and they are deemed abandoned.
	Amy does not own the coins because Nick mislaid them and they are now owned by Nick's heirs.
	Amy owns the coins because they were stolen from Nick.
	Amy does not own the coins because Nick lost them and they are now owned by Nick's heirs.

Answer 1

Amy does not own the coins because Nick mislaid them and they are now owned by Nick's heirs.

Breif explanation -

Here the provision for founder of lost goods in bailment contracts will apply.

Amy act likes a Bailee here, she should give reasonable efforts on finding the true owner.

Although she can have the ownership if -

1. The cost of finding the true owner is more than 2/3 of the value of lost goods.

2. After reasonable efforts she is unable to find the owner.

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