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The Reel Life: Worthless plastic edition

8 Oct 2015

Remember the book store called Borders? For those of you under the age 18, you probably don't. Also, why are you on this website?

But if you're a legal adult, you probably have at least a vague recollection of Borders, which used to be the main competitor to Barnes & Noble long before Amazon came along. The company went into bankruptcy in 2011 and went out of business soon after.

Like all national retail chains, Borders sold gift cards to its customers. But when it went out of business, those cards became worthless. And now, four years later, the U.S. Supreme Court has decided to not take up a case surrounding the cards, effectively reinforcing that they are still and forever will be worth nothing.

Before the Supreme Court denial, lower courts found the gift card holders waited too long to raise their claims once Borders went into bankruptcy in 2011, according to the Wall Street Journal.

It just goes to show you that products, even cash equivalent products like gift cards, are only worth what the market dictates. Remember that the next time you buy something "rare" from a flea market or yard sale.

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