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  1. #1
    Join Date
    May 2008
    Location
    Michigan
    Posts
    13

    Default Consignment

    My question involves business law in the state of: Massachusetts

    I have a friend that is going into a partnership of selling antiques.

    The storefront is in a highly visible area 1/2 way accross the states. He called me to ask that I put some of my high end antiques in his shop.
    I am planing to pay him 20% once sold. IF I were to draw up an inventory and agreement would that be enought to safeguard my payment once sold?

    How can I make him and his partner liable for theft/damage?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Consignment

    Safeguard your payment how? Will having a written contract help you get paid sooner or faster if he's not trustworthy and doesn't live up to his obligations? No, but it should make things easier in court if you have to sue him.

    You can make your friend and his partner liable for theft or damage by entering into a contract with them to that effect, and making sure that you record the condition of the items as delivered and have documentation of their value. Consider carrying your own insurance on your items.

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