Indian Contract Act, 1872
169. When finder of thing commonly on
sale may sell it
When a thing which is commonly the subject of sale is lost, if
the owner cannot with reasonable diligence be found, or if he refuses upon
demand, to pay the charges of the finder, the finder my sell it-
(1) when the thing is in danger of perishing or of losing the
greater part of its value, or
(2) when the lawful charges of the finder, in respect of the
thing found, amount to two-thirds of its value.