Question

Does any one know about gift card law?

I bought a gift card a couple of years ago, since then the business was sold and the new owner won't honor it. Do I have any recourse? The card is from a small non-franchise business

2 months ago - 5 answers

Best Answer

Chosen by Asker

This is a tricky issue. If the card does not have an expiration date on it, you would need to find out if the new owner purchased just the assets of the business or both the assets and liabilities. Not sure how you would determine this without a lawsuit, and that is probably not worth it unless the card is for several hundred dollars. I don't think you'll be successful in getting your money back, but an interesting exercise would be to contact your state's treasurer and ask them if unused gift cards go to the state eventually through escheatment. If they do, you might find the money is sitting there for you to claim, or maybe they will contact the merchant to find out why they didn't send the unclaimed funds in to the state when they should have.

by OldJimmy

2 months ago

Asker's Rating: 

Other Answers

no they usually have limitations on them.

by Lincoln BANKS- 2 months ago

No.

by jlf- 2 months ago

do you mean store gift card? do you mean mall gift card or do you mean a visa/master/amex gift card which one do you mean? what was the name of the store? my crystall ball wont tell me if the company goes under the card is no good plus a lot time if you dont use the amount on the card iis removed due to non-use so you probally dont have any money on the card unless you bought the card in california

by travelmaster- 2 months ago

You may have some recourse from the State by contacting their unclaimed property department. Some states require businesses offering gift cards to turn over unused cards as unclaimed property. A consumer can claim their money back by showing proof of ownership of the card (receipt, etc.).

by CardQT- 2 months ago