Purchase of a Stolen Good - Free Essay Example

The term stolen goods refers to the stolen properties in which the theft can effectively amount to committing an offense anywhere in the world. Steeling includes the proceeds of any property such as the amount of money used in selling the property and any other things that are bought with these proceeds. Based on section 24/3, properties that have returned to their initial owners or held under lawful custody are no longer treated as stolen. Fences and any other theft-demanding places are the motivating factors around the stealing activities through the conversion of stolen products into cash or other factors such as drugs (Cheeseman, 2015). Crime related to property is also a system of demand and supply.

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In the cases of a dispute arising between the involved parties, the law is the only reliable source that would decide on the best side with the desired interest. Most of these scenarios occur when the worrying parties are presenting competing claims concerning the ownership of the stolen properties (Cheeseman, 2015). For instance, a property is swiped from the original owner and sold to a third party. The third party can purchase a product without prior knowledge that it was stolen and the circumstantial ways in which the property was obtained. In some other cases, the initial owner of the property could be able to trace the products giving rise to the competing claims between the concerned parties (Sutton, 2010). These two groups are called innocent parties which include the new buyer of the stolen property and the initial owner of the goods. The buyer had bought the product without the knowledge of it being stolen property.

Stolen properties can result in several social challenges both to the original owner of the goods and the innocent buyer of the product, who is buying from the thief of the property. Most of the stolen stuff in society is because of the influx of organized criminal activities with a sophisticated mind to continue practicing fraud in the community. The individuals buying the stolen products from the market are creating a higher demand for the victimized subjects and subsequently increasing the rate of victimization. The issue of theft of goods and their redistribution is not equal, and legitimate marketing merchants and the surrounding buyers are forced to pay higher prices for the stolen properties.

In terms of pricing, stolen goods create a significant margin between the desired profits and the resulting losses. The victimization also affects the marketing stands as the average prices of the products are reduced because of the influx of the stolen properties and can lead to others closing their businesses due to the resulting stiff competition (Godwin, 2020). Otherwise, a significant aspect of fear in committing crimes is creating undesired uncertainty and discouraging any potential investments, the stability of the population, and the general growth of the regional economies to prowess. Since the individuals involved in the act of stealing products are not considering the regulations and laws of society, most of them are afraid to get arrested, thus incorporating the use of violence in resolving their issues. However, the immediate solution to the problem of buying stolen goods is through the implementation of stiff regulation in the market that protects the innocent third-party buyer and initial owner of the property, and not limited to the thief of the goods. Additionally, the law must be hard on the culprits to reduce steeling cases in society.

References

Cheeseman, H. R. (2015). Current business law. Pearson.

Godwin, A. (June 3, 2020). Stolen goods. https://www.vantageasia.com/stolen-goods/ Accessed on 9/14/2020

Sutton, M. (2010). Stolen Goods Markets. The Problem of Stolen Goods Markets. https://popcenter.asu.edu/content/stolen-goods-markets-0