§ 24-4-17-11 — Conditions of accepting an item for commission on consignment; remedies

Indiana § 24-4-17-11

• Jurisdiction: Indiana
• Art. 4: REGULATED BUSINESSES
• Ch. 17: Retail Consignment Sales

Text

(a) A retail merchant may accept an item for
commission on consignment from a person only if, not later than seven
(7) days after accepting the item, the retail merchant enters into a
written contract with the person that specifies the following:
(1) The value of the item.
(2) The time within which the proceeds from the sale must be
paid to the consignor if the item is sold.
(3) The commission the retail merchant is to receive if the item is
sold.
(4) The minimum price for the sale of the item.
(5) Any discounts ordinarily given by the retail merchant in the
regular course of business.
(b) If a retail merchant violates this section, the consignor may bring
an action in a court with jurisdiction to void the consignor's contractual
obligations to the retail merchant. A retail merchant who violates this
section is liable to the consignor in an amount equal to:
(1) fifty dollars ($50);
(2) any actual, consequential, or incidental damages sustained by
the consignor because of the violation of this section; and
(3) reasonable attorney's fees.

Legislative History

As added by P.L.85-2009, SEC.2. Amended by P.L.1-2010, SEC.97.