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Someone steals your phone. You can sue that someone for the value of lost property if caught or if the police recover money. If he sells down the line. Polic
by wolco 7y ago
Someone steals your phone. You can sue that someone for the value of lost property if caught or if the police recover money.
If he sells down the line. Police will follow the chain and if the property is found it will be taken and it will be used in trial and recovered back to you.
The people who bought the used phones may lose them. If they do they can sue the store. If the store hasn't sold them they will lose them and can sue the orginal thief.
- Blake_Emigro 7y agoPawn shops hold the goods they purchased for 30 days to give time for someone to make a claim against them as property that was stolen from them. (This is my experience in Canada anyway.) In theory, exchanges could do the same thing for deposits above a certain amount, but this would presumably hurt their business the way things work right now.
- protanopia 7y agoDon't pawn shops hold items because they are essentially lending money with the item as collateral. They don't sell the items right away because the person that sold them to the pawn shop has the right to repay the loan and reclaim the item within a certain period of time.
- Blake_Emigro 7y agoYeah, I guess it's both things.