Business Law 5th Edition by David Twomey ,Marianne Jennings ,Stephanie Greene

Exercise 11

Larsen Jewelers sold a necklace to Conway on a layaway plan. Conway paid a portion of the price and made additional payments from time to time. The necklace was to remain in the possession of Larsen until payment was fully made. The Larsen jewelry store was burglarized, and Conway's necklace and other items were taken. Larsen argued that Conway must bear the risk of loss. Conway sought recovery of the full value of the necklace. Decide. [Conway v Larsen Jewelry, 429 NYS2d 378 (Misc)]