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Florida Statute 686.502 - Full Text and Legal Analysis
Florida Statute 686.502 | Lawyer Caselaw & Research
Link to State of Florida Official Statute
F.S. 686.502 Case Law from Google Scholar Google Search for Amendments to 686.502

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS
Chapter 686
SALES, DISTRIBUTION, AND FRANCHISE RELATIONSHIPS
View Entire Chapter
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.
History.s. 2, ch. 86-118.

F.S. 686.502 on Google Scholar

F.S. 686.502 on CourtListener

Amendments to 686.502


Annotations, Discussions, Cases:

Cases Citing Statute 686.502

Total Results: 2  |  Sort by: Relevance  |  Newest First

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Shuttie v. Festa Restaurant, Inc., 566 So. 2d 554 (Fla. 3d DCA 1990).

Cited 2 times | Published | Florida 3rd District Court of Appeal | 1990 WL 116334

...e a third person of Shuttie's retained title/consignment arrangement. The plaintiff was not without adequate means to have afforded ample protection to his creations, by simultaneously providing similar warning or notice to third persons. Fla. Stat. 686.502 expressly so provides: `686.502 Consignment relationship; notice; proceeds of sales held in trust; contract requirements....
...Nor did the plaintiff comply with the mandatory "contract [consignment] Provisions" of Fla. Stat. 686.503. Standing alone, failure of compliance with F.S. 686.503 might not necessarily prove fatal to his cause. This is because had the mandatory public notice provisions of Fla. Stat. 686.502 been substantially complied with, no third person might then rely upon contrary ownership allegations of the consignor's agent....
...ithstanding any provision of the U.C.C.' Fla. Stat. 686.503(5). Such reliance is misplaced. Having either failed or overlooked compliance with sub-sections (1)-(4) of that Statute (Fla. Stat. 686.503) as well as the notice requirements of Fla. Stat. 686.502(2), the plaintiff is estopped to selectively rely upon only those portions of the controlling statutes which operate favorably while wholly disregarding those parts which may have contributed to his dilemna....
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Rayfield Inv. Co. v. Kreps, 35 So. 3d 63 (Fla. 4th DCA 2010).

Cited 1 times | Published | Florida 4th District Court of Appeal | 72 U.C.C. Rep. Serv. 2d (West) 110, 2010 Fla. App. LEXIS 6149, 2010 WL 1779891

...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." § 686.502(2), Fla....

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