Correct classification of ring for determining ownership

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Reference no: EM132182835

1a. One day while walking through Brender Park, Jim had a big fight with his fiancé, Glenda. At the conclusion of the fight, Jim told Glenda the wedding was off and demanded the ring from Glenda. Glenda refused and ran off crying. She took the ring off of her finger and thought she put it in her pocket, but it actually fell to the ground under some bushes. She made no attempt to find the ring. Four months later Jim read this ad in the local paper classifieds: "Found yesterday diamond ring in Brender Park near duck pond. Call Dave at 555-5555."

What is the correct classification of the ring for determining ownership?

A -Abandoned property

B -Mislaid property

C -Prescribed property

D -Lost property

1b. Who acquires ownership of the ring if it is not claimed?

A -The finder, Dave

B -Jim, because mislaid property cannot be acquired by prescription

C -Dave, but only if he gives Jim written notice

D -Glenda, assuming the ring was a conditional gift

1c. How long does the finder need to keep the ring before acquiring ownership?

A -It is already his because of accession

B -60 days

C -10 days

D -30 days

1d. What would the finder need to do in order to keep the ring? Assume Florida law.

A -Turn it in to the police and pay for the advertisement

B -Have the ring appraised

C -Place a sign at the location where it was found

D -Give the ring to a neutral party until the 45 days are up

1e. Will Jim be able to get the ring back?

A -Yes, if he calls Dave before six months are up

B -Yes, because the ring was lost and he has 60 days to prove ownership

C -No, because it is too late to get the ring back

D -No, because Glenda is the true owner of the ring

1f. Does Glenda have any claim to the ring?

A -Yes, if she can prove ownership

B -Yes, because Dave has actually committed larceny

C -No, because the ring is community property

D -No, because the time has expired for her to make a valid claim

Reference no: EM132182835

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