Poetic Justice

From About.com

Poetic justice is a literary outcome in which bad characters are punished and good characters are rewarded. Think: "What comes around goes around." In its purest form, poetic justice is when one character plots to undermine another and then ends up caught in his own trap.

From Answers.com

An outcome in which virtue is rewarded and evil punished, often in an especially appropriate or ironic manner. For example, It was poetic justice for the known thief to go to jail for the one crime he didn't commit. [Early 1700s]

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