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The Auctioneer is the Agent of the Seller in Every Auction: Buyer Gets the Better of Argument in Jenack Appeal Oral Argument. Are Auction Houses Ready if Result Stands?

Posted by Nicholas O'Donnell on November 19, 2013 at 5:01 AM

The New York Court of Appeals held oral argument last week in the appeal from the Appellate Division of the New York Supreme Court’s ruling in Jenack v. Rabizadeh that an auctioneer must disclose the name of any owner who has consigned the work for sale, or a sale against a successful bidder cannot be enforced consistent with New York General Obligations law § 5-701, the New York Statute of Frauds (video in Windows Player). The court actively questioned both sides before taking the case under advisement. The view here is that the buyer (Rabizadeh) got the better of the argument, but one has to wonder how the equities will weigh on the court in a case where the winning bidder simply repudiated a voluntary transaction.

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Topics: Legislation, New York General Obligations Law § 5-701, § 5-701(a)(6), Auctions, Jenack v. Rabizadeh, New York Court of Appeals, Ivan Petrovich Khlebnikov, Fine Russian Silver/Enamel Covered Box with Gilt I, New York Supreme Court, Chester, Statute of Frauds, 12 Wend. 548, William J. Jenack, Uniform Commercial Code, Hicks v. Wigmore

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The Art Law Report provides timely updates and commentary on legal issues in the museum and visual arts communities. It is authored by Nicholas M. O'Donnell, partner in our Art & Museum Law Practice.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

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