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State Statutes - Idaho - Title 28 - Chapter 11 - 28-11-103
Idaho Statutes
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28-11-103 - AGENCY RELATIONSHIP -- TRUST PROPERTY
A consignment of a work
of fine art results in the following:
(1) The art dealer, after delivery of the work of fine art, is an agent
of the artist for the purpose of sale or exhibition of the consigned work of
fine art within the state of Idaho. This relationship shall be defined in
writing and renewed at least every three (3) years by the art dealer and the
artist. It is the responsibility of the artist to identify clearly the work of
art by securely attaching identifying marking to or clearly signing the work
of art.
(2) The work of fine art constitutes property held in trust by the
consignee for the benefit of the consignor and is not subject to claim by a
creditor of the consignee.
(3) The consignee is responsible for the loss of or damage to the work of
fine art while in the possession of or on the premises of the consignee.
(4) The proceeds from the sale of the work of fine art constitute funds
held in trust by the consignee for the benefit of the consignor. The proceeds
shall first be applied to pay any balance due to the consignor, unless the
consignor expressly agrees otherwise in writing.
 
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