Written Contract Required for Consignment of Work of Art; Violation by Art Dealer Rendering Artist's Obligation Voidable

  1. Law
  2. Georgia Code
  3. Commerce and Trade
  4. Selling and Other Trade Practices
  5. Consignment of Art
  6. Written Contract Required for Consignment of Work of Art; Violation by Art Dealer Rendering Artist's Obligation Voidable

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  1. An art dealer may accept a work of art on a fee, commission, or other compensation basis on consignment from the artist who created the work of art only if prior to or at the time of acceptance the art dealer enters into a written contract with the artist establishing:
    1. The value of the work of art;
    2. The time within which the proceeds of the sale are to be paid to the artist if the work of art is sold; and
    3. The minimum price for the sale of the work of art.
  2. If an art dealer violates this Code section, a court may, at the request of the artist, void the obligation of the artist to that art dealer or to a person to whom the obligation is transferred other than a holder in due course.

(Code 1981, §10-1-523, enacted by Ga. L. 1995, p. 267, § 1.)


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