In this situation gilchrist was responsible for the

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achieve a certain purpose. In this situation, Gilchrist was responsible for the bailment for mutual benefit. He was also liable for damages made on the vehicle in which he had repossessed for later attainment. Gilchrist failed to exercise proper duty of care when in possession of the vehicle. Problems 1. A) Jimmy sought recovery on the promissory note, since it was a gift. B) First Bank claimed the document was ineffective. 2. As a general rule, the finder is entitled to lost property against everyone except the true owner. Therefore, Fried is entitled to the money. 3. A) Lane does not have rights not the timber just because it fell onto his property – it still derived from Gable’s yard. B) The ring belongs to the person who owns the property in which it was found. 4. A) The jewel belongs to the residents living in the house where the jewel was found. B) Only the original discoverer can claim it, unless the original owner claims it first – treasure trove. C) The salesperson owns it only if the true owner does not claim it for a reasonable amount of time D) The diamond belongs to Frank, since the ring was found under the property. E) The customer should be able to attain the pocketbook if no owner is found.
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