Site navigation

What type of contract is formed between the finder of goods and the actual owner of the goods?

A finder who takes another person's goods into custody assumes the responsibilities of a bailee under section 71 of the Indian Contract Act. The law imposes that obligation…

Choose your answer

What type of contract is formed between the finder of goods and the actual owner of the goods?

Select one answer
Answer and explanation

Correct answer B

A finder who takes another person's goods into custody assumes the responsibilities of a bailee under section 71 of the Indian Contract Act. The law imposes that obligation even though the finder and owner have not agreed to a contract. It is therefore classified as a quasi-contractual relationship, rather than a contingent or wagering agreement.

Practice for these exams

Related question papers

Related exam syllabi

Related questions in this topic