Florida § 686.502 - Consignment relationship; notice; proceeds of sales held in trust; contract requirements.
Full text of Florida Florida Statutes § 686.502 — Consignment relationship; notice; proceeds of sales held in trust; contract requirements., with citation guidance and answers to common questions.
§ 686.502. Consignment relationship; notice; proceeds of sales held in trust; contract requirements.
(1) Whenever a consignor delivers, or causes to be delivered, a work of art to a consignee for the purpose of sale, or exhibition and sale, to the public on a commission, fee, or other basis of compensation, the delivery to and acceptance thereof by the art dealer is deemed to be “on consignment”; and, with respect to the work of art, such consignee shall thereafter be deemed to be the agent of such consignor. (2) Whenever a consignor delivers or causes to be delivered a work of art to a consignee, such consignor shall give notice to the public by affixing to such work of art a sign or tag which states that such work of art is being sold subject to a contract of consignment, or such consignee shall post a clear and conspicuous sign in the consignee’s place of business giving notice that some works of art are being sold subject to a contract of consignment. (3) The proceeds of sale of a work of art shall be held in trust by the consignee for the benefit of the consignor. Such proceeds shall be applied first in payment of any amount due to the consignor. (4) Any provision of a contract or agreement whereby the consignor waives any of the provisions of this section is void.
Source: official Florida text · Last verified 2026-08-27
Frequently Asked Questions About Florida § 686.502
What does Florida Statutes § 686.502 cover?
Section 686.502 ("Consignment relationship; notice; proceeds of sales held in trust; contract requirements.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 686.502?
A common citation format is "Florida Statutes § 686.502" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 686.502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.