Terms Used In Tennessee Code > Title 47 > Chapter 25 > Part 10 - Consignment of Art

• Art dealer: means a person engaged in the business of selling works of art, other than a person exclusively engaged in the business of selling goods at public auction. See Tennessee Code 47-25-1002
• Artist: means the person who creates a work of art, or, if such person is deceased, such person's heir, legatee, or personal representative. See Tennessee Code 47-25-1002
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Consignment: means that no title to, estate in, or right to possession of, the work of art, superior to that of the consignor shall vest in the consignee, notwithstanding the consignee's power or authority to transfer and convey to a third person all of the right, title, and interest of the consignor in and to such work of art. See Tennessee Code 47-25-1002
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Fiduciary: A trustee, executor, or administrator.
• Legatee: A beneficiary of a decedent
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means an individual, partnership, corporation, association, or other group, however organized. See Tennessee Code 47-25-1002
• Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Work of art: means an original art work which is:
  (A) A visual rendition, including a painting, drawing, sculpture, mosaic, or photograph. See Tennessee Code 47-25-1002