Which of the Following Statements Is True Regarding Lost Property

question 69

Multiple Choice

Which of the following statements is true regarding lost property?

• A)In all states,the finder of property has an obligation to put a notice in the local paper looking for the true owner attempting to claim ownership.
• B)In most states,the finder of lost property has against all others except the person who lost the property,but that right only arises if the finder of the property can establish that she spent an amount of at least one-fifth of the fair market value of the property attempting to locate the owner.
• C)In most states,the finder of lost property has title against all others,including the person who lost the property.
• D)In most states,the finder of lost property has no title against others and must turn over the property to the police department for later sale if the true owner cannot be located.
• E)In most states,the finder of lost property has title against all others except the person who lost the property.

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Definitions:

Agricultural Subsidies

Financial aids and support provided by government agencies to farmers and agribusinesses to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.

Food, Conservation, And Energy Act

A piece of legislation aimed at governing various aspects of food, agriculture, and energy resource management; also known as the Farm Bill.

Smooth Income

The practice or process of stabilizing income over time in order to manage fluctuations and avoid significant variations in earning levels.

Parity

A concept of economic equality or equivalence, such as between currencies or in the income levels between groups.