Legal Question in Bankruptcy in New York
GOB Return Policy
A store has a sign posted that CLEARLY states ''All Sales Final - No Returns'' and, as a Going out of business store it is EVERYWHERE. I, as the manager, have been advised that this means No Returns, No exceptions. Having done this before, I was under the assumption that a store was REQUIRED to refund the customer and return the item if the customer has not left the store...even if the signs say contrary. (This is in NY and CT) Are there any regulations on this?
1 Answer from Attorneys
Re: GOB Return Policy
The purpose of a liquidation sale ordered by the bankruptcy court is to exchange merchandise for money for the Trustee to use to pay creditors. Thus, the signs do indeed mean no returns, no exceptions. Once the store has the customer's money, that's it. If the customer is unhappy with the purchase, the customer can throw throw the goods away or resell to recoup some or all of the customer's expense in buying it. The customer has paid fire-sale very low prices for goods at a bankruptcy sale; the Trustee's no-returns policy is the downside of that.
A bankruptcy liquidation sale is indeed a fine instance of buyer beware.
If the liquidation sale is NOT being done under the control of the bankruptcy court, then the usual regulations apply about customer returns.
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
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