Consignment, effect
When an artist gives their artwork to an art dealer to sell (called consignment), three things happen by law. First, the art dealer becomes the artist's agent, meaning they act on the artist's behalf to sell or show the artwork in Missouri. Second, the artwork is protected — it belongs to the artist and cannot be taken by people the art dealer owes money to. Third, when the artwork sells, the money is held for the artist and must be paid to the artist first, unless the artist agrees in writing to something different.
407.904. , effect. — A consignment of a shall result in all of the following:
(1) The , after receipt of the work of fine art, shall constitute an of the artist for the purpose of sale or of the consigned work of fine art within the state of Missouri;
(2) The work of fine art shall constitute property by the for the of the artist who is the and shall not be subject to by a of the consignee;
(3) The from the sale of the work of fine art shall constitute funds held in trust by the consignee for the benefit of the artist who is the consignor, and such proceeds shall first be applied to pay any balance due to the artist who is the consignor, unless the artist who is the consignor expressly agrees otherwise in writing.
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Source & history notes
(L. 1984 S.B. 688 § 3)
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.