Rudioso Sale-aug2017-Rev1

pri ate and de ter mine whether ei ther items (1), (2), or 3) is ap pli ca ble, and if so, the
sale shall be can cel led, the horse re turned and pay ment re funded. Ruidoso
Horse Sale Co.’s de ci sion shall be de ter mi na tive and bind ing upon Con signor
and Pur chaser.
THIRD-BIDDING PRO CE DURE: Un less waived by an nounce ment, there shall
be an up set price of $1,500 on any an i mal en ter ing the sales ring. If an open ing
bid in the amount of the up set price is not im me di ately forth com ing to the auction
eer’s call, the an i mal shall be passed out as un sold. The per son mak ing the
high est bid rec og nized by auc tion eer shall be the buyer. The auc tion eer shall
im me di ately pres ent the buyer with a doc u ment en ti tled Ac knowl edge ment Of
Pur chase. Should such pre sen ta tion not be made prior to com mence ment of
bid ding on the next lot of fered, the buyer shall forth with iden tify him self or herself
to auc tion eer as the buyer and sign the Ac knowl edge ment Of Pur chase. In
the event that a per son other than the rec og nized buyer signs the Ac knowl edgement
Of Pur chase, such ac tion shall not give such other per son any right or ti tle
to the horse. Im me di ately af ter such er ro ne ous sign ing of the Ac knowl edge ment
Of Pur chase be comes known to the auc tion eer, he shall cause the Ac knowledge
ment Of Pur chase to be pre sented to the rec og nized buyer for sig na ture. If
the high est bid der fails to im me di ately ex e cute the Ac knowl edge ment Of Purchase
or oth er wise fails to com ply with the Con di tions of Sale, or in the event of a
mis take by the auc tion eer, Ruidoso Horse Sales Com pany Re serves the op tion to
re-sell the an i mal and such re sale shall ter mi nate all ob li ga tions of Ruidoso Horse
Sales Com pany and the con signor to honor any prior bid.
FOURTH-BIDDING DIS PUTES: Should any dis pute arise be tween or among
two or more bid ders, the auc tion eer shall forth with ad ju di cate the dis pute, and
his de ci sion shall be ab so lute, fi nal and bind ing on all par ties. Bids re ceived by
per son nel em ployed by the un der signed have the same stat ure as bids received
by auc tion eer. In case of dis pute, the bid ding shall be re opened for advanced
bids, and if there be no ad vanced bid, the horse is sold to the per son
from whom auc tion eer rec og nized the last bid. Ad vanced bid ding shall be restricted
to the dis put ing par ties, un less the bid be re duced be low the level of the
rec og nized bid at com mence ment of dis pute, in which case bid ding is re opened
to all. The auc tion eer re serves the right to re ject any or all bids.
FIFTH-TI TLE AND DE LIVERY: Ti tle passes to buyer at fall of the ham mer. All
risk of in jury to the horse be comes buyer’s risk at pass ing of ti tle. Horse will be
held for buyer by con signor un til buyer makes set tle ment as pro vided in CON DI-
TION SIXTH be low. Buyer shall im me di ately pres ent him self or her self to make
set tle ment if re quested by auc tion eer, but in any case shall so pres ent him self or
her self within thirty min utes of con clu sion of the sales ses sion in which the horse
was pur chased. Upon set tle ment by buyer, horse will be de liv ered pur su ant to a
“sta ble re lease” pro vided by un der signed to buyer or his or her rep re sen ta tive.
Buyer or his or her rep re sen ta tive shall pres ent “sta ble re lease” to designee of
un der signed to re move horse from sales pre mises af ter tak ing pos ses sion, but
in any case tak ing pos ses sion of the horse by buyer or his or her rep re sen ta tive
shall con sti tute de liv ery. Upon de liv ery, buyer shall cause horse to be re moved
promptly from the sales pre mises, or shall be sub ject to sta ble charges as de termined
by un der signed. In ad di tion, should pur chaser fail to cause horse to be
re moved promptly, un der signed may cause horse to be re moved from sales
pre mises at buyer’s risk and ex pense.
SIXTH-TERMS FOR SET TLE MENT: Buyer shall make set tle ment with cash ier
of the un der signed. Pay ments to oth ers, in clud ing con sign ors or their rep re senta
tives, do not con sti tute set tle ment. Buyer shall pres ent him self or her self to
make set tle ment as pro vided in CON DI TION FIFTH above for the full pur chase
price, such set tle ment to be in form of U.S. cur rency or equiv a lent ac cept able to
cash ier. The Ac knowl edge ment of Pur chase is not trans fer able with out the approval
of Ruidoso Horse Sales Com pany and the copy of the Ac knowl edge ment
of Pur chase re tained by the buyer must be pre sented by the buyer at the time of
set tle ment.
SEV ENTH-DE FAULTERS: SHOULD BUYER FAIL TO COMPLY IN ANY RE-
SPECT WITH CON DI TIONS FIFTH AND SIXTH ABOVE, THE UN DER-