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Statute
California Statute - Civil Code §§ 1738, 1738.5-1738.9, Consignment of Fine Art Law
Citation
CAL. CIV. CODE §§ 1738, 1738.5-1738.9
Summary
After the art’s delivery, the art dealer (the consignee) becomes an agent of the artist (the consignor) and holds the artwork in trust for the consignor. Because it is held in trust, the art cannot be used to satisfy a creditor’s claim against the consignee. The consignee is also responsible for any damages to the art. If the consignee then tries to buy the consigned artwork outright, but resells the artwork to a third party before fully compensating the consignor, then the funds from the resale are held in trust for the consignor to pay any outstanding balances to him. Any contract provision waiving any part of this law is invalid
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