CONDITION OF SALE BIDDERS TAKE NOTICE Texas Quarter Horse Association (TQHA)
THIS SALE IS CONDUCTED IN ACCORDANCE WITH, AND ALL ACTS OF INTERESTED PARTIES AND/OR CLAIMS BY THEM SHALL BE GOVERNED BY, THE FOLLOWING CONDITIONS OF SALE: FIRST - APPLICABLE LAW: All horses in this sale are offered according to the laws of the State of Texas. The right to bid, as provided under law, is reserved for all consignors unless otherwise announced. SECOND-THEREISNOWARRANTY EXPRESSEDORIMPLIEDBYTHEAUCTIONEER, SPONSORS, OWNER OR CONSIGNOR, AS TO THE PERFORMING SOUNDNESS, MERCHANTABILITYORFITNESSFORANYPARTICULARPURPOSEOFANYHORSE OFFERED IN THIS SALE. ALL HORSES ARE SOLD ‘AS IS” WITH ALL EXISTING CONDITIONSANDDEFECTSEXCEPTASSETFORTHINCONDITIONSEIGHTH,NINTH, TENTH AND ELEVENTH BELOW BUYERS SHOULD EXAMINE HORSES PRIOR TO PURCHASING. THIRD - BIDDING PROCEDURE: The person making the highest bid recognized by auctioneer shall be the buyer. The auctioneer shall immediately present the buyer with a document entitled “Acknowledge of Purchase” for signature. Should such presentation not be made prior to commencement of bidding on the next lot offered, the buyer shall forthwith identify himself or herself to auctioneer as buyer and sign the Acknowledgement of Purchase. In the event that a person other than the recognized buyer signs Acknowledgement of Purchase, such action shall not give such other person any right or title to the horse; and immediately that such erroneous signing of Purchase becomes known to the auctioneer, he shall cause the Acknowledgement of Purchase to be presented to the recognized buyer for signature. If the highest bidder fails to immediately execute the Acknowledgement of Purchase or otherwise fails to comply with the Conditions of Sale, or in the event of a mistake by the auctioneer, Texas Quarter Horse Association reserves the option to re-sell the animal and such resale shall terminate all obligations of Texas Quarter Horse Association and the consignor to honor any prior bid. Unless waived by announcement, there shall be an upset bid of $1000 on any animal entering the sales ring. If an opening bid in the amount of the upset price is not immediately forthcoming to the auctioneer’s call, the animal shall be passed out as unsold. FOURTH - BIDDING DISPUTES: Should any dispute arise between or among two or more bidders, the auctioneer shall forthwith adjudicate the dispute, and his decision shall be absolute, final and binding on all parties. Bids received by personnel employed by the undersigned have the same stature as bids received by auctioneer. In case of dispute, the bidding shall be reopened for advanced bids, and if there be no advanced bid, the horse is sold to the person from whom auctioneer recognized the last bid. Advanced bidding shall be restricted to the disputing parties,unless the bid be reduced below the level of the recognized bid at commencement of dispute, in which case bidding is reopened to all. The auctioneer reserves the right to reject any or all bids. FIFTH - TITLE AND DELIVERY: Title passes to buyer at fall of the hammer. All risk of injury to the horse becomes buyer’s risk at passing of title. Horse will be held for buyer by consignor untilbuyermakessettlementasprovidedinCONDITIONSIXTHbelow.Buyershallimmediately present himself or herself to make settlement if requested by auctioneer, but in any case shall so present himself or herself within thirty minutes of conclusion of the sales session in which the horse was purchased. Upon settlement by buyer, horse will be delivered pursuant to a “stable release” provided by undersigned to buyer or his or her representative. Buyer or his or her representative shall present “stable release” to designee of undersigned to remove horse from sales premises after taking possession, but in any case taking possession of the horse by buyer or his or her representative shall
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