Stolen Goods

Stolen Goods are thus treated by English law: a bonâ-fide purchaser of such goods, who has not bought them in market overt, is bound to restore them to the true owner; but if the goods are sold in market overt, the purchaser is entitled to keep them unless the owner has duly prosecuted and convicted the thief. Market overt means the open market in towns and places where a legal market is held. In the City of London every shop is held to be a market overt, but this only applies to the City proper (see SALE). The above rule as to stolen goods does not apply to valuable securities which are stolen, if the security has been paid or discharged bonâ-fide by the person liable, or if the security is a negotiable instrument, and it has passed to a 'holder in due course' (Bills of Exchange Act, 1882, sect. 29). It is a punishable offence to offer or take rewards for the recovery of stolen property. See also THEFT. The Scots law does not recognise the doctrine of market overt.