Professor Smith Has Placed an Ad in the School Newspaper

Multiple Choice

Professor Smith has placed an ad in the school newspaper advertising a laptop computer for sale. Janice is in Professor Smith's economics class and approaches Smith during office hours and purchases the computer. Professor Smith has been at the school for over 10 years and is popular with students and faculty. The price Janice pays is just a bit below the fair market value of the computer. Six months later, the police come to Janice's home and inform her that the computer was stolen.

A) Janice may keep the computer because she bought it in good faith and had no reason to believe that it had been stolen.
B) Janice may keep the computer if the state statute regarding ownership by possession of personal property had run.
C) Janice will lose the computer because she had a duty to verify that Professor Smith was the rightful owner of the computer.
D) Janice will lose the computer because she cannot obtain good title to stolen goods.