An Art Collector Commissioned an Artist to Create a Sculpture

question 31

Essay

An art collector commissioned an artist to create a sculpture for the collector. The artist wanted a substantial amount of money for the sculpture. This caused the collector some worry regarding possible dissatisfaction with the artwork once it was completed. To ensure that payment would be made only if the collector was satisfied with the sculpture, a condition was written into the commission contract. It required that the collector would have to be satisfied with the artwork, relying on the collector's taste and judgment, before an obligation of payment would be created.??The artist never imagined that a collector could possibly refuse a creation of his and allowed the condition to be placed within the contract. At the completion of the sculpture, the collector claimed that she did not care for the artwork and therefore refused to pay. Can the artist force payment in this situation? Would it help if the artist could establish that the collector actually approves of the sculpture but has temporarily run short on funds, and that this is the true motivating factor in refusing to accept the sculpture?

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Definitions:

Resell Products

The act of selling again or selling something that one has bought, to another consumer or market.

Inelastic Demand

A situation where the demand for a product does not change significantly with a change in its price.

Price-Discriminating

A pricing strategy where a company charges different prices for the same product or service to different market segments based on willingness to pay.

Elastic Demand

Refers to a market situation where the quantity demanded of a product is highly responsive to changes in its price.