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:

Construction Expense

Costs directly related to the construction of a building or infrastructure, including materials, labor, and other expenses incurred during the process of building.

Percentage-Of-Completion Method

An accounting technique used to recognize revenue and expenses of long-term contracts as a percentage of work completed during the period.

Actual Construction Costs

The total expenses incurred during the construction of a building or infrastructure, including materials, labor, and any other costs.

Expenditures

Money spent or costs incurred in an organization's efforts to generate revenue.