What is a consignment agreement?

A consignment agreement is a legal contract typically used in the art world. It is an agreement between an artist and a gallery or other art dealer, which allows the gallery to act as a seller or agent on behalf of the artist. Under the agreement, the gallery agrees to exhibit the artist’s artwork for a specified period of time and the artist agrees to give the gallery a portion of any profits when the artwork is sold. In Mississippi, consignment agreements are usually governed by state law, and are considered to be a form of sale or contract of sale. Generally speaking, the consignment agreement should define the terms of the agreement in detail, such as the type of artwork included, the period in which the agreement is valid, the commissions and fees to be paid, the insurance and liability provisions, and any other terms that are important to the parties. The agreement should also identify the artist and gallery involved, and should be signed by both parties.

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What is a consignment agreement?

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