Joe Was Walking in a Park and Found a Watch

question 214

Essay

Joe was walking in a park and found a watch.He took it to the City's Lost and Found,but it was not claimed.Three years later,Joe went to this Lost and Found and asked for the watch and was told that the watch was a property of the City.Explain Joe's legal position in these circumstances.

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Definitions:

Fire Extinguishers

Portable devices used to put out fires by discharging a jet of water, foam, gas, or other materials.

Private Cost

Private cost is the cost incurred by an individual or company in producing goods or services, excluding externalities.

External Benefit

A positive effect of a transaction or activity on a third party who did not choose to incur that benefit.

Externalities

Financial implications or effects that influence bystander third parties and may be either beneficial or harmful.