Fiver. Lots of good legal issues here, looks like an exam problem from contracts/property class. The quick and dirty answer is that you can most likely take ownership of the chattel (fancy law word for "stuff") based on several theories.
1. It is likely that you DO NOT have an enforceable contract making the chattel abandoned and thus you are the finder and thus legal title holder. A contract requires both parties to tender consideration in order for their obligations to run, in this case it doesnt appear that the original owner tendered anything to match your consideration (the obligation to care for the goods). If they paid you a reasonable sum or gave you a piece of furniture in EXPRESS satisfaction of this requitement that is a different story.
2. There was a contract ("K") but that K is void for vagueness. Even if the elements creating a K are met the entire or part of the K can be stricken for being to vague. Did the counterparty define what furniture was covered, for how long you were obligated to care for it, who would cover additional expenses, etc. etc.?
3. The K poses undo hardship on a party. Courts are reluctant to undo a K simply because one side is inconvenienced by their obligation, most Ks have a disproportionate benefit/burden. However, if circumstances (usually created by forces outside the parties control) create an "undue hardship" they may invalidate or modify the K. Job transfer, loss of life, temporary insanity are some of the classics but we can get creative here.
4. Substantial performance might be one of the best avenues of attack here (besides #1). If you have substantially performed your obligation under an enforceable K you are done. This will likely be judged by a reasonable person, a jury of reasonable people. The question is how long is it reasonable to watch this chattel? A year? Two years? A week?
These are just some of the arguments you could advance, and you would do so in the alternative. This means you argue them all and if any one is good you win. Going forward you should provide the other party of your intent to consider the contract (without acknowledging its validity) satisfied. Do this and anything in writing, document everything. If they want you to dispose of the property this is a new arrangement, make them pay through the nose to have you do it, assuming they are still out if the country. Start at .05 on the dollar and dont go any higher. Regardless of what happens you can always just sell the property and all you'll be on the hook for is the $$ paid, probably minus a reasonable fee for yourself.
Keep in mind none of this is legal advice. It is my personal opinion based on the limited and hypothetical facts provided. Good luck.
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