If a jewelry store bought some gold from me but paid me too much, do I have to give the overpayment back?

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If a jewelry store bought some gold from me but paid me too much, do I have to give the overpayment back?

I went home and they called me and said they made a mistake and want their money back. I did nothing wrong. Do I owe them anything?

Asked on August 8, 2011 Wisconsin

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

It depends on what is meant by "mistake":

1) Say that you were given the price per ounce they'd pay and they simply added it up wrong--e.g. you were getting $800/ounce, had 4 ounces, but they accidentally paid you for 5. If they can show that there was a simply mathematical or typographic error so that you were paid more than the amount you and they had actually agreed to, they can request the overage back.

2) Or if they paid you on the assumption everything was gold, but then discoverd one time was only gold plated, they may recover back for that item.

3) On the other hand, if they just decided after the fact that they had made a "mistake" in offering you more than they should have (e.g. you would have accepted less), they can't get the money back--they offered a deal, you accepted it, they are bound to it.


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