Question
Tara owns a valuable collection of postage stamps which she has accumulated over many years. Reluctantly, she decides to sell her very comprehensive collection and
Tara owns a valuable collection of postage stamps which she has accumulated over many
years. Reluctantly, she decides to sell her very comprehensive collection and advertises it for sale in "World Philately", a magazine circulating worldwide for stamp collectors.
Tara has had her collection valued at $50,000, and she accordingly advertises it for sale for this amount.
Two days after placing the advertisement, she is visited by a man who introduces himself to
Tara as Bill Posters, the American Editor of "World Philately", who is currently visiting
Australia and hoping to buy some substantial collections of stamps.
Bill says he is interested in buying Tara's collection, and, after inspecting it for some time,
agrees to pay $50,000.00 for the collection. Bill then produces a personal checkbook to pay for the collection, but Tara states that she must have a Bank Cheque or cash before releasing the stamps.
Bill asks Tara to accept his personal cheque for $50,000.00 after telling Tara that he must leave immediately to catch his plane back to America and that he wants to display the collection at the world convention of stamp collectors in New York in three days time. Tara is somewhat flattered to think that her personal stamp collection will be displayed at such a significant convention. She accordingly agrees to accept a personal cheque from Bill in payment for the collection.
A few days later, Tara is informed by her Bank Manager that Bill's personal cheque is a
forgery, and therefore cannot be paid. Tara then discovers that her stamp collection was sold, a day after it was bought from her to an Australian stamp collector in Sydney who paid
$45,000.00 cash for the collection. The real Bill Posters have never visited Australia.
Can Tara recover her stamp collection from the Sydney buyer?
Advise Tara.
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