I bought an iphone 5 that was cleared and there was no sim card?

I bought an iphone 5 and the sim card was removed and there was no information on the phone.could I get it put on my plan with Verizon and I don't know the history of the phone so how would I found out about that and what if its stolen. Is the phone stillgood or did I throw a couple of hundred dollars in the trash.

You need to get a SIM card from your carrier. If there was a SIM card in it when you bought it, that'd be bad for the previous owner. You would then have access to their entire phone plan.