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Responsibility of finder of lost goods is covered by concept of ___________
Quasi contract
Wagering agreement
Contigent contract
Caveat emptor
- Quasi Contract:
- These are obligations that the law enforces, despite no formal agreement.
- They aim to prevent unjust enrichment.
- The finder's responsibility of lost goods falls under quasi contracts.
- This is the correct option.
- Wagering Agreement:
- Involves betting or gambling on uncertain events.
- These agreements are generally void in many jurisdictions.
- Contingent Contract:
- Depends on the occurrence or non-occurrence of an uncertain future event.
- Used in insurance or conditional agreements.
- Caveat Emptor:
- Means "let the buyer beware."
- The buyer assumes the risk regarding the condition of goods before a purchase.
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