Agreement to Sell Artwork

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Agreement to Sell Artwork Powered By Docstoc
					This is an agreement between a buyer and seller for a piece of artwork subject to
certain conditions. As drafted, the owner retains all copyright and reproduction rights
and the buyer must obtain seller's permission to exhibit the artwork. In an agreement
to sell, unlike a contract of sale, transfer of property is to take place at a future time once
certain conditions have been satisfied. This is useful to a seller of a piece of artwork
who seeks to maintain copyright, reproduction, and exhibition control over the artwork.
     AGREEMENT TO SELL ARTWORK (Seller reserves rights)

THIS Agreement to Sell Artwork (the “Agreement”) made this ____ day of _________, 20__ by
and between ____________________, with an address of          ________________________
(hereinafter referred to as “Seller”) and ________________________ with an address of
_______________________ (hereinafter referred to as the “Buyer”), collectively referred to as
(the “Parties”).


                                                     RECITALS

WHEREAS, the Seller is the sole owner of certain artwork created by [Insert Name of Artist]
(the “Artwork”); and

WHEREAS the Seller desires to sell the said Artwork and the Buyer hereby agrees to purchase
and acquire the Artwork against the payment of the purchase price and upon the terms and
conditions hereunder.

NOW THEREFORE, the parties hereto agree and covenant as follows:

1. ARTWORK

Title: __________________________________

Medium: _______________________________

Size: __________________________________

Framing or Mounting: _____________________

Year of Creation: ___________

Signed by Artist: Yes_____ No__________

Status of Master image: ____________________

Size of edition: __________

Multiples signed: ________

Proofs that exist: ________

2. PURCHASE PRICE




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Buyer shall pay to the Seller for the purchase of the said Artwork hereunder an amount of
_____________________________ U.S. Dollars ($ _____________) as total purchase price for
the Artwork. The purchase price shall be paid upon execution of this Agreement.

3. TITLE

The Seller hereby acknowledges and agrees to convey good, clear, and marketable title in and to
the said Artwork. The Seller further warrants that the Artwork to be sold hereunder is free and
clear of all liens and encumbrances.

4. CLOSING

The closing of the sale of the Artwork, shall take place on or before ______________, 20__ at
the following place __________________ or at any such other place and date as mutually agreed
upon between the parties in writing. At the closing the Seller agrees to deliver clear and
marketable title and ownership to Buyer of the Artwork and agrees to execute all documents
necessary to effectuate this Agreement.

5. COPYRIGHT AND REPRODUCTION

The Seller all reproduction rights, including the right to claim any statutory copyright or
extensions thereof, in the Artwork. Buyer agrees that he shall not photograph, sketch, paint or
reproduce the Artwork in any manner whatsoever for any commercial purposes without the
written consent of the Seller. All approved reproductions shall bear the following copyright
notice:
By ___________ Date ____________.

6. TRANSFERS

Buyer covenants that in the event if Buyer desires to sell, grant, exchange, assign, transfer,
convey or alienate the Artwork in any manner whatsoever or if the Artwork is passed by
inheritance or bequest or by operation of law, or if the Artwork is destroyed and insurance
proceeds is being paid for the same, Buyer shall make every reasonable effort to notify the Seller
and file a transfer agreement with the Seller at the address set forth above within Forty Five days
of any such transfer, distribution, or payment of insurance proceeds by Buyer or any
representatives of the Buyer.

7. EXHIBITION

(a) In the event Buyer desires to exhibit the Artwork, Buyer shall give Seller written notice of his
intention to exhibit or permit others to exhibit the Artwork to the public. Such notice shall
provide Seller of all details of such proposed exhibition.

(b) Any failure on part of the Seller to respond to Buyer's notice within ____________ (___)
days from the receipt of the notice shall be deemed a waiver of Seller's rights hereunder, with
respect to such exhibition and shall be deemed to be a consent to such exhibition.



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8. NON-DESTRUCTION

Buyer agrees not to intentionally destroy, damage, alter, modify or change the Artwork in any
manner whatsoever. Buyer further agrees that in the event if any damage is caused to the
Artwork, Buyer shall notify the Seller prior to the commencement of any repairs or restoration
and Seller shall have the right to make any necessary repairs or restoration.
9. DISCLAIMER

EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, SELLER DOES NOT MAKE
ANY EXPRESS OR IMPLIED REPRESENTATIONS, STATEMENTS, WARRANTIES, OR
CONDITIONS OF ANY KIND OR NATURE WHATSOEVER CONCERNING THE
PURCHASED ARTWORK, INCLUDING (WITHOUT LIMITING THE GENERALITY OF
THE FOREGOING) ANY WARRANTIES REGARDING THE OWNERSHIP, CONDITION,
QUANTITY AND/OR QUALITY OF ANY OR ALL OF THE PURCHASED ARTWORK
AND ANY AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE ARE DISCLAIMED.

10. FORCE MAJEURE

No party hereto shall be responsible for any losses or damages to any other party caused due to
any delays in the performance or non-performance of any of the obligations under this
Agreement when caused due to any Act of God, strike, act of war, inability of supplies or
material or labor or any other cause beyond the reasonable control of the non-performing party.
No party is entitled to terminate this Agreement under such circumstances.

11. ASSIGNMENT

This Agreement shall be binding upon and inure to the benefit of the Seller and Buyer and their
respective successors and assigns. Buyer may, without providing any notice to Seller, assign all
of its rights and obligations under this Agreement to any affiliate of Buyer, and such assignment
shall release Buyer of all of its liabilities and obligations to Seller, provided such liabilities and
obligations are fully assumed by Buyer's assignee.

12. NOTICES

Any notice or other communication required or permitted to be given under this Agreement shall
be in writing and shall be sufficiently given or made by delivery or by post or by telecopy or
similar facsimile transaction (with confirmation of accurate or complete transmission obtained
by sender) or by other electronic means of communication to the respective Parties. Any notice
so given shall be deemed conclusively to have been given and received when so personally
delivered or posted or so telecopied, transmitted, except that any notice delivered after 5:00 p.m.
on the date prior to a non-business day shall be deemed to have been received at 9:00 a.m. on the
first business day following delivery. Any party may change its address, facsimile transmission
number by notice to the other of them in the manner set out above.




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Notices to the Seller shall be sent to:
__________________________
__________________________
__________________________
Notices to the Buyer shall be sent to:
___________________________
_____________________________
___________________________

13. TIME OF ESSENCE

The Parties expressly recognize and agree that time shall be of the essence with respect to any
and all times, dates, and deadlines set forth in this Agreement.

14. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties hereto and it is agreed and
understood that there are no other duties, obligations, liabilities or warranties, implied or
otherwise, except as referred to in an addendum if attached.

15. GOVERNING LAW; JURISDICTION

Any legal action brought by or against either party under the terms of this agreement shall be
determined by the laws of the State of _______________. Each of the Parties in any suit, action
or proceeding arising out of or relating to this Agreement, irrevocably (i) submits to the
jurisdiction of the state courts of the State of ______________, County of __________ over any
suit, action or proceeding arising out of or relating to this Agreement, (ii) waives to the fullest
extent enforceable under applicable law any objection which it may now or hereafter have to the
above venue of any such suit, action or proceeding and any claim that any such suit, action or
proceeding brought in such Court has been brought in an inconvenient forum, (iii) waives to the
fullest extent enforceable under applicable law any objection which it may now or hereafter have
to the above mentioned Court having jurisdiction of the Parties hereto and to the subject matter
of this Agreement, and (iv) acknowledges that a final judgment in any such suit, action or
proceeding brought in such Court, after all appropriate appeals, shall be conclusive and binding
upon it. In any suit regarding the Agreement, the prevailing party shall be entitled to reasonable
attorneys’ fees and costs.


16. COUNTERPARTS

This Agreement may be signed in counterparts, which together, shall be considered a single
instrument.




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17. WAIVER

Any delay or indulgence on the part of the Seller in enforcing any of the terms of this Agreement
or any forbearance or giving time by the Seller to the Buyer shall not be considered as a waiver
on the part of the Seller and the Seller shall be entitled to take action against the Buyer for the
breach or non-compliance of any terms and conditions of this Agreement by the Buyer.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed in
triplicate on the day and year first above written.


[SELLER]

By: _______________________________

Name: _____________________________

Title: ______________________________


[BUYER]

By: _______________________________

Name: _____________________________

Title: ______________________________




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DOCUMENT INFO
Description: This is an agreement between a buyer and seller for a piece of artwork subject to certain conditions. As drafted, the owner retains all copyright and reproduction rights and the buyer must obtain seller's permission to exhibit the artwork. In an agreement to sell, unlike a contract of sale, transfer of property is to take place at a future time once certain conditions have been satisfied. This is useful to a seller of a piece of artwork who seeks to maintain copyright, reproduction, and exhibition control over the artwork.