When the Finder of a Lost Property Knows Who the Owner

question 45

Multiple Choice

When the finder of a lost property knows who the owner is and refuses to return it to him/her:

• A)the finder is liable to revest the title of the property back to the owner.
• B)the finder will not be found guilty of conversion.
• C)the finder will be found guilty of accession.
• D)the finder is liable to pay the owner the fair value of the property.

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Definitions:

Complements

Complements are goods or services that are used together, where the increase in the consumption of one leads to an increase in the consumption of the other.

Price Elasticity

An index indicating how the amount of a product demanded or supplied changes in response to a price variation.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price over a particular period of time.

Price

The amount of money expected, required, or given in payment for something, often determined by the conditions of demand and supply.