Nemo Dat

1336 WordsOct 19, 20086 Pages
The nemo dat rule literally meaning "no one [can] give what one does not have" is a legal rule in property law that states where goods are sold by a person who is not the owner thereof and who does not sell them under the authority or with the approval of the owner, the purchaser requires no better title to the goods than the seller had. This law states that if a bona fide purchaser who unknowingly purchases and subsequently sells stolen goods will, at common law, be held liable in trover for the full market value of those goods as of the date of conversion. Since the proper owner retains legal title, this is true even in a chain of successive bona fide purchasers (ie, the true owner can successfully sue the fifth bona fide purchaser in…show more content…
As a youngster he studied languages. He also studied people: their habits, mannerisms, and especially their weaknesses, and decided to do something in that field instead. By the age of twenty he was a confirmed conman. By the age of thirty he was a confirmed wanted man on the run from police in several European countries. He started over again in the United States and called himself 'Count' because it sounded important. One dupe he conned was Al Capone; the most dangerous criminal in America at that time. The Count knew that the crime lord couldn't be taken in like the others; he would get revenge. Lustig devised something different for the underworld boss. The count asked Capone to invest $50,000 in a swindle that he claimed he was working on. Lustig promised to double his money in sixty days. The homicidal Capone gave the cash - and a warning of what would happen to Lustig if there was a double-cross. Lustig let the money sit in the bank for sixty days. At the end of that time he went back to Capone with a look of disappointment. He told his investor that the deal feel through. Just before Capone was about to explode, Lustig handed back the $50,000. The crime boss was so impressed with Lustig's honesty (?!) that he rewarded the conman with a thousand dollars. Which is what Lustig expected Capone to do. In 1925 Lustig was back in Paris with his new friend Dapper Dan, relaxing at an outside cafe. They were in need of money just as they read in the newspaper that
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