Michigan Laws 442.363 – Art merchant as agent for consignor or artist; liabilities; effect of good faith reliance on incorrect information
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Terms Used In Michigan Laws 442.363
- Art merchant: means a person who deals in multiples, or who by his or her occupation holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples, or who employs a broker, agent, or other intermediary who holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples. See Michigan Laws 442.351a
- Artist: means the creator of an image depicted by or in a master. See Michigan Laws 442.351a
- in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Sale: means sale or exchange. See Michigan Laws 442.351a
If for purposes of effecting the sale of a multiple, an art merchant has agreed to act as the agent for a consignor who is not an art merchant, or if for purposes of supplying the information required by this act, an art merchant has agreed to act as the agent for an artist, the art merchant shall incur the liabilities prescribed by this act with respect to a purchaser. However, if the art merchant can establish that his or her liability results from incorrect information which was provided to the art merchant in writing by the consignor or artist, and that the art merchant in good faith relied on the information, the consignor or artist shall similarly incur the liabilities with respect to the purchaser and the art merchant.