Purchase Solution

lost, misplaced, and abandoned property

Not what you're looking for?

Ask Custom Question

In 1943, During World War II, a Navy TBD-1 Devastator crashed eight miles of the coast of Florida. The entire crew survived and there is no indication that any efforts were made to locate the plane by the Navy. Collector Doug Champlin, the owner of an airplane museum in Arizona, spent approximately $130,000.00 to recover the plane. The problem has to do with ownership. He claims to be the owner of the lost/abandoned plane. The Navy claims ownership and wants to put the plane in the National Museum of Naval Aviation at Pensacola, Naval Air Station. The TBD-1 Devastator has significant historical value as no Devastators survived the war.

The 11th U.S. Circuit Court of Appeals recently ruled that only Congress can order the abandonment of federal property. Hence the Navy owns the plane. Mr. Champlin doesn't mind giving the plane back to the Navy; he just wants to be reimbursed. The Navy is hesitant to pay and Mr. Champlin is considering an appeal to the Supreme Court.

1. What are the differences among lost, misplaced, and abandoned property?

2. Putting aside the fact that this plane is federal property, is this plane lost, misplaced, or abandoned?

list references please

Purchase this Solution

Solution Summary

What are the differences among lost, misplaced, and abandoned property?

Solution Preview

Property is generally deemed to have been lost if it is found in a place where the true owner likely did not intend to set it down, and where it is not likely to be found by the true owner. For example, a necklace found lying on the ground will be deemed to have been lost. At common law, the finder of a lost item could claim the right to possess the item against any other person in the world except the true owner.

Property is generally deemed ...

Solution provided by:
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
Recent Feedback
  • "Thank you. "
  • "Thank you"
  • "Thank you. I got 20/20 last week for my discussion you help me out with."
  • "Thank you. Great Job. "
  • "Thank you. Great Job. "
Purchase this Solution


Free BrainMass Quizzes
IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Business Processes

This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.