Financial Institution Bonds - Essay Example

Allen gets the bonds.  She reclaimed the safe back in the same condition that she had entrusted it to the agent plus the bonds signed on it. The fact that Barbara kept the bonds means that the safe was in a good condition than it was with the entrusted agent. The agent had sold the safe to neither Barbara nor any other person; Allen thus reserves all rights to the safe and its contents. Barbara was only keeping safe for the agent and has no rights to the safe or its contents whatsoever. Although the discovery was not planned for, Barbara’s duty in the whole scenario was to keep safe or sell it to any prospective buyer for $100. She did not sell it; Allen who is legally the owner gets the safe and the bonds.

Q2

Allen has claims to the bonds. This is because the safe had not been sold yet and she has a right to reclaim it and the bonds that come with it. Barbara discovered the crack on the safe with the bonds signed on it. Barbara though cannot claim the bonds since she refused to buy the old safe even after the discovery of the bonds. If she had bought the safe, she would then claim the bonds. The agent, on the other hand, was to fuel the purchase of the old safe. He never knew the bonds existed, nor did he have any rights to neither the safe nor the bonds signed on it (Clore, 164).

Allen gets the bonds.  She reclaimed the safe back in the same condition that she had entrusted it to the agent plus the bonds signed on it. The fact that Barbara kept the bonds means that the safe was in a good condition than it was with the entrusted agent. The agent had sold the safe to neither Barbara nor any other person; Allen thus reserves all rights to the safe and its contents. Barbara was only keeping safe for the agent and has no rights to the safe or its contents whatsoever. Although the discovery was not planned for, Barbara’s duty in the whole scenario was to keep safe or sell it to any prospective buyer for $100. She did not sell it; Allen who is legally the owner gets the safe and the bonds.