[libstripper]

Black letter property law: the purchaser of stolen property gets no better tiitle than the original thief. Good for the court.

[PeterPrinciple]

federal appeals court has ruled

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Still amazing that it went to a federal appeals court.

[PeterPrinciple]

In 2014, a federal judge sided with the Zaretskys, ruling that they were the stone’s rightful owners, despite the diamond having been previously stolen.

But last week a three-judge panel serving on the Second Circuit Court of Appeals in Manhattan decided the lower court erred because Khan was a stylist and not a merchant under New York’s commercial code.

Therefore, he could not legally sell the diamond and the Zaretskys could not legally hold title to it, the judges ruled in a 32-page decision.

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So if kahn had been a merchant they could have kept the diamond? I would have thought the major issue is that it was STOLEN.