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Contracts Keyed to Fuller
Firestone & Parson, Inc. v. Union League of Philadelphia
Citation:
672 F. Supp. 819 (E.D. Pa. 1987)Facts
In August 1981, Firestone & Parson, Inc., art dealers, purchased a painting titled “Bombardment of Fort Sumter” from the Union League of Philadelphia for $500,000. At the time of sale, both parties believed the painting was the work of renowned American landscape artist Albert Bierstadt, and the defendant allegedly represented it as such. In spring 1985, art historians began expressing doubts about this attribution. Despite the plaintiffs bringing these concerns to the defendant’s attention, the Union League maintained that the painting was a Bierstadt. In February 1986, an article in “Antiques” magazine by art historian Alfred C. Harrison, Jr. definitively reattributed the painting to Confederate artist John Ross Key. This reattribution was subsequently accepted by art experts, causing the painting’s value to drop from over $500,000 to approximately $50,000. Plaintiffs filed suit in October 1986, seeking rescission and damages.
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