Engagement Ring Protocol and Return Policy

[BristolCavendish]

I was asked this question last week by a male colleague and couldn't come up with anything conclusive. It involves a canceled wedding engagement and the return policy pertaining to a diamond engagement ring.

Having never been in this predicament, I was always under the assumption that if the bride-to-be broke off the engagement, she returns the ring and if the future groom bails out, she gets to keep it. When I further researched the topic, the only point mentioned was that state law determines the eventual outcome.

Apparently this woman has two diamond engagement rings from earlier pre-nuptials and the former groom-to-be suspects that given her bi-polar temperament, she might be a 'head case'. As a result of his apprehension regarding her overall sanity, he has opted to bail while the going is still good. Having spent nearly $12K on this engagement ring, he would like to retrieve it ASAP and apply the proceeds towards a new Rolex or Grand Seiko.

How are these things ordinarily handled or is this a case for someone like Judge Judy?