"I purchased a watch from a legitimate jewelery store in New Jersey 3 years ago. I only wore the watch 8-10 times, and the last itme I took it out the stem fell out when I went to wind it. I sent it back to the manufacturer, who proceeded to notify me that the watch was part of stolen shipment three years ago from Federal Express. They were keeping my watch since it was stolen property, and I am now out a $4,000 watch. They told me the store was not an authorized dealer for their brand, and that I was out of luck. Based on the price of the watch and the fact that I have a receipt for it, who should I go after? I am willing to retain a lawyer since I was an unwilling and an innocent bystander in this mess. What's your opinion on the best course of action and which of the two should be easier to deal with? Thanks!!"
Here in Florida, we've had an influx of stolen cars from Mexico. The papers are doctored and the cars sometimes end up on a legitimate car dealer's lot (if there is such a thing). When an unknowing purchaser buys one of these stolen vehicles, he or she runs the risk of having it seized and returned to the rightful owner. This happened here recently during a traffic stop -- and the man still owed over $20,000 on the car. Fortunately, car dealers carry insurance against this kind of loss, so people who have to give up stolen cars at least have some recourse for a refund.
When consumers unknowingly buy stolen property, they must give it up when the rightful ownership is established. Even at a loss. The above consumer question, however, asks who is liable and who should the purchaser "go after." This is a legal question and should be referred to a lawyer. From a business viewpoint, however, the following is obvious:
1) The manufacturer probably had insurance on that stolen shipment and probably has been reimbursed. Taking the watch possibly amounts to unjust enrichment, since the manufacturer now probably has both the insurance settlement and the watch. There may be some claim against the manufacturer on this basis, but the expense and ordeal of litigation will quickly eclipse the $4,000 loss.
2) The purchaser has a letter from the manufacturer stating that the "legitimate jewelry store" is not an authorized dealer for that brand and that the watch is hotter than Austin asphalt in August. If this happened to me, I'd go to the jewelry store with letter in hand and give them two choices: Either give me $4,000.00 or I get in my car and drive directly to the police station. Trafficking in stolen property is a crime. (They may try to claim that they didn't know the watch was stolen, but
Go To Page: 1 2
