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CONTRACTS
QUASI CONTRACTS
(SECTION 68-72)
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Under section 71 of the Act, a person who finds goods belonging to another
person and takes them into his custody is subject to the same responsibility
as a bailee .Thus an agreement is also implied by law between the owner
and finder of goods the later is deemed to be a bailee.
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He must try to find to find out the real owner of the goods and must not
appropriate the property to his own use.
If the real owner is traced , he must restore the goods to him on his
demands. If he doesnt take these measures, he will be guilty of criminal
misappropriation of the property under section 403 of Indian penal code.
Till the goods are in possession of the finder ,he must take as much care
of the goods as a man of ordinary prudence would.
1. When the thing is in danger of perishing or losing the greater part of its
value.
2. When the lawful charges of the finder amount to at least twothird of the
value of goods.
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