After watching the movie classic Field of Dreams, Robby Realty decided to move to Des Moines Iowa
Question:
After watching the movie classic Field of Dreams, Robby Realty decided to move to Des Moines Iowa to become a farmer. To assist him with his initial down payment for buying a farm, Robby Realty's parents, Mr. and Mrs. Realty gave their son $20,000. Excited to become a farmer living the American Dream, Robby started to look at various farm properties for sale. While looking at the farm known in the community as the "Buried Treasure" farm and walking the property, Robby tripped over an object in the cornfield. Robby's curiosity became the better of him and he started digging where he tripped in the cornfield. While digging he destroyed three corn plants. However, Robby found a metal box and upon opening the box, found $100,000 in the box. Robby believing in finders keepers took the money and left the property. After visiting a number of other farms, the rest of the week, Robby purchased the "Buried Treasure" farm. Robby feeling great about his purchase and new found wealth phoned his parents from his cellphone while enjoying an adult beverage at a local watering hole. Little did he know that Westley Whistleblower, the son of the seller of the "Buried Treasure" farm overheard the conversation and told his father. The prior owner sued Robby Realty and his Parents.
Please identify and explain what historical theory of property law governs Robby's acquisition of the "Buried Treasure" farm.
. Please explain whether there are any issues regarding the gift made to Robby from his parents that would invalidate the gift. Whichever position you take, please explain your answer.
Who is the rightful owner of the $100,000 cash found and taken by Robby?
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts