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From Bouvier's Law Dictionary, Revised 6th Ed (1856) [bouvier]:

  FINDER. One who lawfully comes to the possession of another's personal 
  property, which was then lost. 
       2. The finder is entitled to certain rights and liable to duties which 
  he is obliged to perform. This is a species of deposit, which, as it does 
  not arise ex contractu, may be called a quasi deposit, and it is governed by 
  the same general rules as common deposits. The, finder is required to take 


  the same reasonable care of the property found, as any voluntary depositary 
  ex contractu. Doct. & St. Dial. 2, c. 38; 2 Bulst. 306, 312 S. C. 1 Rolle's 
  R. 125. 
       3. The finder is not bound to take the goods he finds; yet, when he 
  does undertake the custody, he is required. to exercise reasonable diligence 
  in preserving the property and he will be responsible for gross negligence. 
  Some of the old authorities laid down that "if a man find butler, and by his 
  negligent keeping, it putrify; or, if a man find garments, and by his 
  negligent keeping, they be moth eaten, no action lies." So it is if a man 
  find goods and lose them again; Bac. Ab. Bailment, D; and in support of this 
  position; Leon. 123, 223 Owen, 141; and 2 Bulstr. 21, are cited. But these 
  cases, if carefully examined, will not, perhaps, be found to decide the 
  point as broadly as it is stated in Bacon. A finder would doubtless he held 
  responsible for gross negligence. 
       4. On the other hand, the finder of an article is entitled to recover 
  all expenses which have necessarily occurred in preserving the thing found; 
  as, it a man were to find an animal, he would be entitled to be reimbursed 
  for his keeping, for advertising in a reasonable manner that he had found 
  it, and to any reward which may have been offered by the owner for the 
  recovery of such lost thing. Domat, 1. 2, t. 9, s. 2, n. 2. Vide Story, 
  Bailm. Sec. 35. 
       6. And when the owner20does not reclaim the goods lost, they belong to 
  the finder. 1 Bl. Com. 296; 2 Kent's Com. 290. The acquisition of treasure 
  by the finder, is evidently founded on the rule that what belongs to none 
  naturally, becomes the property of the first occupant: res nullius 
  naturaliter fit pimi[?] occupantis. How far the finder is responsible 
  criminally, see 1 Hill, N. Y. Rep. 94; 2 Russ. on Cr. 102 Rosc. Cr. Ev. 474. 
  See Taking. 
  
  

















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