Reference no: EM133195662
Michael and Daniel are downtown business owners. One day, while both men are sweeping their storefronts, Daniel notices as Michael's pocket watch falls out of his smock, without Michael knowing. Daniel thinks the watch is valuable, so he quickly picks it up. The next day, Michael asks Daniel if he has seen his pocket watch. Daniel replies, "Your loss, my gain." Fortunately for Michael, Daniel's assertion is incorrect. The pocket watch is deemed lost property. Daniel cannot gain ownership rights to the watch, because Michael has not intentionally given up possession and ownership of it. Daniel must return the pocket watch to Michael, because he is the true owner. If Daniel refuses to return the watch, he will be guilty of conversion.
Upon successful completion of the course material, you will be able to:
Explain how to acquire ownership of personal property and the ethical dilemmas involved.
Instructions
In your textbook, The Legal Environment of Business, read Chapter 8, "Real and Personal Property."
Consider the following scenario:
Last Friday, Patricia was in the order line of her company's café when she saw a crumpled bill on the floor. Thinking it was a $1 bill, Patricia reached down to pick it up. (She would have reached down to pick up a penny as long as it was "heads up!") When she unfolded the money, Patricia discovered (much to her amazement) that it was actually a $100 bill. Patricia quickly lost her appetite, stuffed the $100 bill in her pocketbook, and went home.
Navigate to the threaded discussion and respond to the following prompts:
- Assess Patricia's rights regarding her discovery. Does she have the legal right to keep the money?
- More importantly, does she have an ethical or moral right to keep the money?
Your initial post is due by the end of the fourth day of the workshop.
Read and respond to at least two of your classmates' postings, as well as all instructor follow-up questions directed to you, by the end of the workshop.
Your postings also should:
- Be well developed by providing clear answers with evidence of critical thinking.
- Add greater depth to the discussion by introducing new ideas.
- Provide clarification to classmates' questions and provide insight into the discussion.
- Be posted on three different days during the workshop.