Which of the Following Statements Is Correct with Respect to the Person

question 80

Multiple Choice

Which of the following statements is correct with respect to the person who is entitled to found property?

• A) You only have a claim to personal property you find if it is a chose in action.
• B) When a person finds valuable property, he must turn it over to the police, and if the rightful owner is not found, the property goes to the government.
• C) When a person finds a valuable watch in a public place, he is entitled to that property over everyone else except the rightful owner.
• D) When a person finds a valuable watch in a public place, he is entitled to that property over everyone else including the rightful owner.
• E) When an employee finds an item of lost property on the premises of his employer, he is entitled to that lost property if the rightful owner cannot be found.

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Definitions:

Firm's Debt

The total amount of money that a company owes to creditors, including loans, bonds, and other financial liabilities.

Put Contracts

Financial derivatives that give the holder the right, but not the obligation, to sell a specific amount of a security at a specified price within a specified time period.

Underlying Stock

The stock that is the basis for a particular derivative instrument, such as an option.

Market Value

The current quoted price at which an asset or company can be bought or sold on the open market.