Curious to see its worth, Irene takes a beautiful oil painting that she inherited from her grandmother to Eleanor, a respected art appraiser. Eleanor tells Irene the artwork is a worthless piece of junk, so Irene sells the painting to Aziz at a yard sale for $50. The following week, Irene finds out that Aziz sold the painting for $12 million dollars at auction, after an appraiser at the auction house determined it is the work of a famous painter named Thomas Gainsborough. Furious, Irene sues Eleanor. What result

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Business

Jude Levy

24 April, 06:44

Curious to see its worth, Irene takes a beautiful oil painting that she inherited from her grandmother to Eleanor, a respected art appraiser. Eleanor tells Irene the artwork is a worthless piece of junk, so Irene sells the painting to Aziz at a yard sale for $50. The following week, Irene finds out that Aziz sold the painting for $12 million dollars at auction, after an appraiser at the auction house determined it is the work of a famous painter named Thomas Gainsborough. Furious, Irene sues Eleanor. What result

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Nathanial Shah · Answer 1

Answer: First, we must add the options:

a. Eleanor will not be liable, because most people would not know that the painting was by Thomas Gainsborough.

b. Eleanor will not be liable as long as she can prove that Aziz did not know the painting was valuable when he bought it.

c. Eleanor will be liable if Irene can prove that all appraisers would recognize the painting as being valuable.

d. Eleanor will be liable if Irene can prove that the best appraisers would know that the painting was by Thomas Gainsborough

The correct option is C.

Explanation: This result will depend on whether Irene can prove beyond reasonable doubt, that all art appraisers, on seeing the painting would be able to recognize it as priceless or valuable.

If Irene can prove this, then Eleanor will be liable.