What to do if a jewelry store made an error in my favor when I bought an engagement ring?

I recently purchased an engagement ring from a reputable jewelry store. I am on a payment plan and make monthly payments to buy the ring. I have an old engagement ring I purchased previously from the same store, in which they will give me 100% the value off my new ring if I give them the old ring back. I agreed but during the exchange process they took off the value of the old ring twice. I asked for a discount before the exchange but I believe this was done in error. Is there any legal action the store can take against me if I don’t bring this up to their attention?

Asked on May 25, 2012 under Bankruptcy Law, Indiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Technically, if you know that you are not entitled to the money  (i.e. that were given double the credit to which you were entitled) but keep it anyway, you have committed a form of theft. You could certainly face civil liability--that is, the store could sue you for the overpayment and recover the money. (They could do this even if you didn't know you received more than you were entilted to.) You could possibly also be subject to criminal charges, owing to your knowledge.


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