John Torniero was employed by Micheals Jewelers, Inc. (Micheals). During the course of his employment, Torniero stole
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John Torniero was employed by Micheals Jewelers, Inc. (Micheals). During the course of his employment, Torniero stole pieces of jewelry, including several diamond rings, a sapphire ring, a gold pendant, and several loose diamonds. Over a period of several months, Torniero sold individual pieces of the stolen jewelry to G& W Watch and Jewelry Corporation (G& W). G& W had no knowledge of how Torniero obtained the jewels. Torniero was arrested when Micheals discovered the thefts. After Torniero admitted that he had sold the stolen jewelry to G& W, Micheals attempted to recover it from G& W. G& W claimed title to the jewelry as a good faith purchaser for value. Micheals challenged G& W’s claim to title in court. Who wins? United States v. Micheals Jewelers, Inc., 42 UCC Rep. Serv. 141, 1985 U. S. Dist. Lexis 15142 (United States District Court for the District of Connecticut)
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Business Law Legal Environment Online Commerce Business Ethics and International Issues
ISBN: 978-0134004006
9th edition
Authors: Henry R. Cheeseman