BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Who is a Finder of Lost Goods? A “Finder of Lost Goods” is a person who finds goods belonging to another person and takes them into his own custody. The underlying interpretation of the term-finder is the person who presumably does not know the true proprietor of the goods.

Detailed explanation-2: -Finder of lost goods is in a position of bailee. In a bailment contract, the bailor gives the goods, assets amoral or property to the bailee for a specific amount of time. However, the goods, assets or property still belongs to the bailor.

Detailed explanation-3: -Responsibility of Finder of Goods: He has to take the same degree of care and caution in respect of the goods found as the bailee has in respect of the goods bailed to him. The person who finds goods belonging to another is entitled to retain the goods against the owner until he gets compensation from him.

Detailed explanation-4: -Any person who finds the goods belonging to another person and takes the goods in his custody is the finder of goods. For Example, A found a wallet belonging to B on the road, A picked the purse. Here, A is the finder of the goods.