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Consider the following statements: If a person who finds goods, belonging to another, takes them into…

Section 71 treats a finder who takes another’s goods into custody as having the same responsibility as a bailee. Finding goods does not confer ownership or a general power…

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Consider the following statements:
If a person who finds goods, belonging to another, takes them into his custody, then he:
1. Can pledge the goods.
2. Can gift the goods.
3. Is subject to the same responsibility as a Bailee. Of the above statements:

Select one answer
Answer and explanation

Correct answer C

Section 71 treats a finder who takes another’s goods into custody as having the same responsibility as a bailee. Finding goods does not confer ownership or a general power to pledge or give them away. The limited statutory rights concerning retention and exceptional sale do not establish either statement 1 or 2. Therefore statement 3 alone is correct.

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