Question
Julia Pettergen, made the highest profits in her Accounting Consultancy business since she started 5 years ago.She decided it was time to increase the art
Julia Pettergen, made the highest profits in her Accounting Consultancy business since she started 5 years ago.She decided it was time to increase the art collection in her study.She visited the local Art Dealers, upon entering the gallery she was immediately drawn to a landscape painting that she felt looked familiar.When she communicated with the Dealer, Albert Archer, he stated as follows: "this is the genuine article, an original painted by the incomparable John Constable, an excellent price of $2.5 million dollars"
Julia Pettergen was really excited by the find and could not believe her luck, she immediately purchased the painting, which the Art Dealer wrapped carefully and carried it to her vehicle.
Now, a couple of months later Julia Pettergen has discovered that the painting is not actually a John Constable original, but a good forgery.
(a)Identify and define the possible defect that may have been committed by the Art Dealer.2 marks
(b)What would Julia Pettergen have to establish in order to succeed in the case?2 marks
(c)In identifying the likely type of defect, what would be the remedy available.6 marks
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