The finder of goods has right of _____a)lienb)purchasec)successiond)no...
Explanation:
- Finder's Rights: The finder of goods has the right of lien, which means they have the right to retain possession of the goods until they are paid for their services or expenses related to the goods.
- Lien: Lien is a legal right to keep possession of property belonging to another person until a debt owed by that person is discharged.
- Other Options: The finder of goods does not automatically have the right of purchase or succession unless specified by law or agreement.
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The finder of goods has right of _____a)lienb)purchasec)successiond)no...
Right of Lien for the Finder of Goods
Finding of goods refers to the situation where a person finds lost or abandoned goods belonging to someone else. In such cases, the finder of goods may have certain rights, one of which is the right of lien.
Explanation:
1. Definition of Lien:
Lien is the right to retain possession of a property belonging to another person until a debt owed by that person is discharged. In the case of the finder of goods, the right of lien allows them to retain possession of the goods until they are compensated for their efforts in finding and safeguarding the goods.
2. Legal Basis:
The right of lien for the finder of goods is based on the principle of 'quasi-contract'. In this situation, the finder is not acting under a formal contract but is still entitled to certain rights due to their actions in finding and preserving the goods.
3. Conditions for Exercising Lien:
For the finder of goods to exercise their right of lien, certain conditions must be met. These conditions may include:
- The goods must have been found by the individual in a situation where the true owner is not easily identifiable.
- The finder must have taken reasonable steps to locate the true owner and return the goods.
- The finder must not have committed any wrongful act or negligence in relation to the goods.
4. Limitations:
It is essential to note that the right of lien is not an absolute right and may be subject to certain limitations imposed by law. For instance, the finder may be required to take certain legal steps to establish their right to retain possession of the goods.
In conclusion, the right of lien for the finder of goods allows them to retain possession of the goods until they are compensated for their efforts. It is important to understand the conditions and limitations associated with this right to avoid any legal disputes.