17:11
The field. smh.
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LSDefine
Simple English definitions for legal terms
droit de suite
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A quick definition of droit de suite:
Term: droit de suite
Definition: Droit de suite is a French term that means "right to follow." It has two meanings. Firstly, it refers to a creditor's right to recover a debtor's property after it has been sold to a third party. Secondly, it refers to an artist's resale royalty, which is the right of a work's creator to benefit from appreciation in the value of the work by receiving a portion of the profit from its later resales. This right is recognized in some European nations and is meant to encourage artists to create more works.
A more thorough explanation:
Droit de suite is a legal term that means "right to follow." It refers to two different things:
- When someone owes money to a creditor and sells their property to a third party, the creditor has the right to recover that property from the third party to pay off the debt.
- In some European countries, artists have the right to receive a portion of the profit when their artwork is resold. This is called an artist's resale royalty.
For example, let's say John owes money to a bank and he sells his car to Jane. If the bank has a droit de suite, they can take the car from Jane to pay off John's debt.
Another example is if an artist sells a painting for a low price when they are unknown, but later the painting becomes very valuable and is resold for a lot of money. If the artist has a droit de suite, they can receive a portion of the profit from the resale.