(a) You find a valuable bracelet at the airport. You hand it in to the airport lost and found desk. When you do so you hand it over on condition that if the bracelet is not claimed that it be returned to you. The bracelet has not been claimed but the airport is refusing to return the bracelet to you.

Applying property rights theory, discuss whether you are entitled to claim the bracelet and whether you can prevent anyone else taking it from you. Do not discuss criminal law or local body by-laws.

(b) Explain the "certainty requirements" in relation the law of trusts.

(c) Discuss the concepts of actual and apparent authority in relation to the operation of principal and agent and illustrate your answer by reference to cases.

(d) Echo is employed by Jocko in his consulting business. One of Echo's tasks is to purchase the stationery items for the business. Echo, through his own considerable efforts, has recently negotiated much cheaper stationery supply arrangements. Echo now pays for the supplies himself, and then sells them to Jocko's business at the normal market price. Explain whether or not Echo is entitled to do this.

Outline the legal issues in this scenario and advise Jocko of his legal rights and what remedies might be available to him.