Joe Was Walking in a Park and Found a Watch

question 93

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 it was a property of the City.Explain Joe's legal position in these circumstances.

---

Definitions:

Inelastic Demand

A situation where the quantity demanded of a good or service changes minimally in response to price changes.

Total Revenue

The total amount of money received by a company for goods sold or services provided during a certain period of time.

Taxi Demand

Refers to the consumer need for taxi services, which can vary based on factors like time, location, and price.

Regulated Fares

Fares for transportation or services that are controlled or set by a governing body to ensure fairness and accessibility.