Legal Question in Business Law in Florida

Gold sold

I sold a gold chain that to a gold buyer who paid me $550 cash. It was stamped 14k but when she tested it she said it was only 10k. She explained the process and tested it five times. Today she is telling me that it is fake and she wants her money back and will give me back the chain. I don't know if she switched the chain and since there is no receipt and no disclaimer I am not sure what my rights are. The money has been spent and after speaking with a jewelry expert I was told the only way to truly test it is to melt it down, that the gold buyer should be more familiar with her practices and it is a buyer beware issue. Now she is threatening to sue me for the $550 cash. What rights do I have? Or does she have?


Asked on 1/13/09, 1:48 pm

1 Answer from Attorneys
Hunter Chamberlin Chamberlin Butler & Crowe, P.A.

Re: Gold sold

She is a gold buyer, and a professional one at that. The phrase caveat emptor ("buyer beware") is even more applicable to her than an average person. If you gave her a chain in exchange for $550, and later found out it was actually worth $2,000, do you think she would give you the chain back in exchange for you giving back the $550? Absolutely not. A contract is a contract, and she bought what she bought. You are under no obligation to give back the money.

Of course, if you signed a written contract, the terms of that contract will govern. In other words, if she reserved her rights to undo the sale, she may well be able to demand return of the money.

If you would like additional information, please contact me at your convenience.

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Answered on 1/13/09, 2:17 pm


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