a) the “demand and refusal” rule, under which the statute of limitations begins to run only when the owner finds his goods, demands their return, and the buyer refuses him.b) At the other extreme are limitation periods that run either from the time of the theft or the time of purchase by the merchant seller so long as the buyer can establish an open, notorious and continuous adverse possession.c) Finally, a number of jurisdictions have adopted an intermediate “discovery” rule under which the statute of limitations begins to run when the original owner discovers or should have discovered the location of her stolen goods.
Schwartz, Alan and Scott, Robert E. , Rethinking the Laws of Good Faith Purchase (March 1, 2011). Columbia Law Review, Vol. 111, 2011; Columbia Law and Economics Working Paper No. 393. Available at SSRN: http://ssrn.com/abstract=1775032
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