Using a stolen and fraudulent check Richy Rich purchased a 30-carat diamond ring for $100,000 from...

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Using a stolen and fraudulent check Richy Rich purchased a 30-carat diamond ring for $100,000 from Bailey's Jewelers. Richy Rich then took the diamond he had purchased, and the accompanying gemological certificate issued by Baileys, to a Reliable loan jewelry store and Pawn operated by Sammy Schiester. Upon examination of the ring and certificate, Schiester then bought the ring from Richy Rich. He paid Rich using a $40,000 cashier's check. Polly Pawn, a customer of Schiester's purchased the ring for $50,000. But eventually, Richy Rich was arrested for passing a bad check, and the police seized the diamond. Explain who owns and has legal title to the diamond. Are there different types of titles? Using a stolen and fraudulent check Richy Rich purchased a 30-carat diamond ring for $100,000 from Bailey's Jewelers. Richy Rich then took the diamond he had purchased, and the accompanying gemological certificate issued by Baileys, to a Reliable loan jewelry store and Pawn operated by Sammy Schiester. Upon examination of the ring and certificate, Schiester then bought the ring from Richy Rich. He paid Rich using a $40,000 cashier's check. Polly Pawn, a customer of Schiester's purchased the ring for $50,000. But eventually, Richy Rich was arrested for passing a bad check, and the police seized the diamond. Explain who owns and has legal title to the diamond. Are there different types of titles?