Abandoned property-to whom should the court award it

Reference no: EM13196165

Locko owned Locko Hospitality, Inc., which in turn owned the Best W motel in Conway, State of Nowhere. Joe and David were preparing the motel for renovation. As they were removing the ceiling tiles in room 118, with Locko present in the room, a dusty cardboard box was noticed near the heating and air supply vent where it had apparently been concealed. Joe climbed a ladder to reach the box, opened it, and handed it to David. The box was filled with more than $38,000 in old currency. Locko took possession of the box and its contents. Joe and David filed a suit in state court against Locko and his corporation to obtain the money. Should the money be characterized as lost, mislaid, or abandoned property? As to each, why or why not? To whom should the court award it? Explain.

Reference no: EM13196165

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Abandoned property-to whom should the court award it : Locko owned Locko Hospitality, Inc., which in turn owned the Best W motel in Conway, State of Nowhere. Joe and David were preparing the motel for renovation. As they were removing the ceiling tiles in room 118, with Locko present in the room, a dusty..

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