One who finds a thing lost is not bound to take charge of it; but if he does so, he is thenceforward a depository for the owner, with the rights and obligations of a depository for hire.

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Source: CivC 1877, § 1064; CL 1887, § 3688; RCivC 1903, § 1384; RC 1919, § 1007; SDC 1939, § 60.0201.