LAW 515-001 – Property I
A rightful possession of an object by someone who is not the true owner.
Carries the right to possess and exclude, but not use or transfer.
- Delivery without the transfer of ownership
- Implied or express acceptance
- An implied or express agreement that the goods be returned
- Element that differentiates from gift.
Carries the duty to:
- Standard of care is that of a reasonably prudent person under the same or similar circumstances.
- Paying raises the standard of care or a reasonably prudent person. Depends on the benefits and burdens
- Strict liability
Can be voluntary (taking care of a friend's dog) or involuntary (finding lost or mislaid property).