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.
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
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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
Jenack Case Set for Oral Argument, Appeal Tests Obligation for Auction Houses in New York to Disclose Seller’s Name
Posted by
Nicholas O'Donnell on July 22, 2013 at 4:56 AM
The New York Court of Appeals has set a hearing date on the appeal of the William J. Jenack action house of the Appellate Division’s ruling last year 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). The oral argument will be on November 13, 2013. The high court of New York elected to accept the appeal earlier this year, following coverage in the New York Times and elsewhere (in which the Art Law Report is quoted).
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Topics: Legislation, consignment, New York General Obligations Law § 5-701, Auctions, New York Court of Appeals, Ivan Petrovich Khlebnikov, Statute of Frauds, auction house, William J. Jenack, Hicks v. Wigmore
