Jones and Wilson were on trial, separately, for larceny of a $10,000 bearer bond (payable to the

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Jones and Wilson were on trial, separately, for larceny of a $10,000 bearer bond (payable to the holder of the bond, not a named individual) issued by Brown, Inc. The commonwealth's evidence showed that the owner of the bond put it in an envelope bearing his name and address and dropped it accidentally in the street; that Jones found the envelope with the bond in it; that Jones could neither read nor write; that Jones presented the envelope and bond to Wilson, an educated man, and asked Wilson what he should do with it; that Wilson told Jones that the finder of lost property becomes the owner of it; that Wilson told Jones that the bond was worth $1,000 but that the money could be collected only at the issuer's home office; that Jones then handed the bond to Wilson, who redeemed it at the corporation's home office and received $10,000; that Wilson gave Jones $1,000 of the proceeds. What rulings?
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Smith and Robersons Business Law

ISBN: 978-0538473637

16th edition

Authors: Richard A. Mann, Barry S. Roberts

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