California § 1738.7. 1738.7. (Added by Stats. 1975, Ch. 953.)

California Statutes

§ 1738.7. — 1738.7. (Added by Stats. 1975, Ch. 953.)

California § 1738.7.

JurisdictionCalifornia

Code CIVCivil Code - CIV

Div. 3.DIVISION 3. OBLIGATIONS

Title1.

Part 4.TITLE 1. CONSIGNMENT OF FINE ART

Ch. 2.CHAPTER 2. General Provisions

This text of California § 1738.7. (1738.7. (Added by Stats. 1975, Ch. 953.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Civil Code - CIV Code § 1738.7. (2026).

Text

A work of fine art received as a consignment shall remain trust property, notwithstanding the subsequent purchase thereof by the consignee directly or indirectly for the consignee’s own account until the price is paid in full to the consignor. If such work is thereafter resold to a bona fide purchaser before the consignor has been paid in full, the proceeds of the resale received by the consignee shall constitute funds held in trust for the benefit of the consignor to the extent necessary to pay any balance still due to the consignor and such trusteeship shall continue until the fiduciary obligation of the consignee with respect to such transaction is discharged in
full.

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A work of fine art received as a consignment shall remain trust property, notwithstanding the subsequent purchase thereof by the consignee directly or indirectly for the consignee’s own account until the price is paid in full to the consignor. If such work is thereafter resold to a bona fide purchaser before the consignor has been paid in full, the proceeds of the resale received by the consignee shall constitute funds held in trust for the benefit of the consignor to the extent necessary to pay any balance still due to the consignor and such trusteeship shall continue until the fiduciary obligation of the consignee with respect to such transaction is discharged in
full.