Legal Question in Consumer Law in Illinois

Jewelry Store will not honor trade-in Guarantee

When my husband bought my engagement ring 10 years ago it was sold to him with a ''Lifetime'' diamond and trade-in guarantee. I started looking at trading my ring in for something new for our 10th anniversary and the store is telling me that their trade-in policy has changed and that they will not honor the policy that was sold to us with my diamond. I wanted to know if this is legal. The policy I have states ''... yearly profit trade-in policy is in force as long as you own your diamond.'' How can they change something like this without my knowledge and then tell me that their new policy applies to all- even the people who have purchased diamonds before the policy changed?


Asked on 11/26/08, 9:43 am

1 Answer from Attorneys
Motty Stone Law Offices of Motty Stone

Re: Jewelry Store will not honor trade-in Guarantee

The jewelry store is most likely wrong. If they sold you the diamond with a certain policy, then that policy is what governs. You are correct that new policies do not effect you if you have written evidence of a different guarantee from when you bought the ring.

Please feel free to give us a call if you want to talk.

Read more
Answered on 11/26/08, 2:42 pm


Related Questions & Answers

More Consumer Law questions and answers in Illinois