|
October Sale of Yearlings
|
|
|
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 AND DEFINITIONS: All horses in this sale are offered according
to the laws of the State of California. BUYER ACKNOWLEDGES THAT CALIFORNIA PENAL CODE SECTION 598c
PROVIDES THAT IT IS UNLAWFUL FOR ANY PERSON TO POSSESS, IMPORT, EXPORT,
SELL, BUY, GIVE AWAY, HOLD, OR ACCEPT ANY HORSE WITH THE INTENT OF KILLING
IT OR HAVING IT KILLED IF HE/SHE KNOWS OR SHOULD HAVE KNOWN THAT ANY PART
OF THE HORSE WILL BE USED FOR HUMAN CONSUMPTION.
BUYER WARRANTS AND REPRESENTS THAT NO PURCHASE IN CONNECTION WITH
THIS SALE VIOLATES SAID SECTION 598c.
The Glossary of definitions published in the catalog for this sale
are incorporated herein by reference and are an integral part of these
Conditions. SECOND -
THERE IS NO WARRANTY: EXPRESS
OR IMPLIED BY THE AUCTIONEER, SPONSORS, OR CONSIGNOR, AS TO THE RACING
SOUNDNESS, BREEDING STATUS, BREEDING QUALITIES, FERTILITY, MERCHANTABILITY
OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY HORSE OFFERED IN THIS SALE,
AND ALL HORSES ARE SOLD "AS IS" AND WITH ALL DEFECTS EXCEPT
ONLY AS EXPRESSLY SET FORTH IN THESE CONDITIONS OF SALE.
BUYER IS BOUND BY ALL ANNOUNCEMENTS FROM THE AUCTION STAND AT THE
COMMENCEMENT OF THE SESSION IN WHICH THE HORSE IS SOLD AND AT THE TIME
OF SALE. NO WARRANTY OR REPRESENTATION MADE BY
BARRETTS OR CONSIGNOR SHALL BE BINDING OR EFFECTIVE UNLESS CONTAINED HEREIN,
CONTAINED IN AN ANNOUNCEMENT FROM THE AUCTION STAND, OR APPROVED IN WRITING
BY BARRETTS. THIRD -
BIDDING PROCEDURE: The right to bid, as provided under law,
is reserved for all consignors unless otherwise announced. All bidders must be at least 18 years
of age and be prepared to present written proof of age and identity. Unless waived by announcement, there shall
be an upset price on any horse offered as set forth on page one of this
catalog. If an opening bid
of the upset price is not immediately forthcoming to the auctioneer's
call, the horse shall be led out unsold.
Minimum, acceptable increases in bidding are:
$100 until the bid reaches $20,000, and $500, thereafter. The person making the highest bid recognized
by the auctioneer shall be the buyer, who shall forthwith identify himself/herself
to the auctioneer as buyer, and shall sign the Acknowledgement of Purchase
when it is presented. In
the event that a person other than buyer signs the Acknowledgement of
Purchase, such action shall not give such person any right or title to
the horse; and immediately that such erroneous signing of the Acknowledgement
of Purchase becomes known to auctioneer, he/she shall cause the Acknowledgement
of Purchase to be presented to buyer for signature. Except as otherwise provided in this CONDITION, the person
signing the Acknowledgment of Purchase shall be personally, jointly and
severally liable as the buyer, regardless of the manner in which the Acknowledgement
of Purchase is signed or whether such signature indicates the Acknowledgement
is signed as an agent and discloses the identity of a principal, unless
the agent has filed with Barretts an approved Agent Authorization form
for this sale, has disclosed the identity of the principal on the Acknowledgement
of Purchase, and is not also listed on the Acknowledgement of Purchase
as principal. FOURTH -
BIDDING DISPUTES: Should any dispute arise between or among
two or more bidders, the auctioneer shall forthwith adjudicate the dispute,
and his/her decision shall be absolute, final and binding on all parties.
Bids tendered after fall of the hammer are not valid grounds for
dispute. Bids received by bid spotters have the same stature as bids
received by auctioneer. In
case of dispute, the bidding shall be reopened for advance bids, and if
there be no advance bid, the horse is sold to the person from whom auctioneer
recognized the last bid. Advance
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. Buyer agrees to release, defend, indemnify and hold Barretts,
and the owners and/or operators of the facilities and their directors,
officers, employees, agents and representatives, harmless from all losses,
damages, expenses, claims, causes of action and attorneys' fees arising out of or related
to the possession, care, custody, control or maintenance after the fall
of the hammer of any horse on which he/she or she is the successful bidder,
whether resulting in whole or in part from their own negligence, including
but not limited to any claims arising out of injuries or damage caused
by the horse after the fall of the hammer.
The horse will be held for buyer by consignor until buyer makes
settlement as provided at CONDITION SIXTH below solely as an accommodation
to buyer. Buyer shall immediately present himself/herself
to make settlement if requested by auctioneer, but in any case shall so
present himself/herself within thirty (30) minutes of conclusion of the
sales session in which the horse was purchased.
Upon settlement by buyer, horse will be delivered by means of a
"stable release" provided by undersigned to buyer or his/her
representative. Buyer or
his/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/her representative
shall constitute delivery and acceptance.
Buyer shall take delivery and possession of the horse no later
than noon of the day following the sale.
Upon delivery, buyer shall cause horse to be removed promptly from
the Barretts sales barns, or shall be subject to stable charges as determined
by undersigned. In addition,
should purchaser fail to cause horse to be removed promptly, undersigned
may cause horse to be removed from sales premises at buyer's risk and
expense. SIXTH -
TERMS FOR SETTLEMENT: Buyer shall make settlement with cashier
of the undersigned. Payments
to others, including consignors or their representatives, do not constitute
settlement. Buyer shall present
himself/herself to make settlement as provided at CONDITION FIFTH above
for the full purchase price, such settlement to be in form of U.S. currency
or equivalent acceptable to cashier of undersigned, unless credit has
been extended in advance by the undersigned. Bidders are cautioned that the fact that they may have been
extended credit at a prior sale does not establish credit at this sale;
they must reestablish credit prior to bidding.
Any buyer to whom credit is extended grants to undersigned a "Security
Interest" in all horses purchased, and their Jockey Club certificates
of registration and in any proceeds, in the amount of any outstanding
sum owed to the undersigned, and may be required, in the absolute discretion
of the undersigned, to execute appropriate "Financing Statement"
and "Security Agreement". In the event credit is extended, the full purchase price and
all charges shall be due and payable fifteen (15) days from the date of
sale and there shall be applied a finance charge in the amount of one
and one-half percent (1 1/2%) per month from the date of sale; however,
if payment is timely made within said fifteen (15) days, finance charges
will be waived. Buyer's account will be charged Seventy-Five
Dollars ($75.00) for each check returned unpaid by buyer's bank for any
reason. In no event shall
credit be extended beyond said fifteen (15) days unless such extension
is specifically approved in writing by an authorized Barretts representative;
in the absence of such written approval, any Buyer with an unpaid balance
after fifteen (15) days from the date of sale shall be in default. SEVENTH - DEFAULTERS: Should buyer fail to comply in any respect
with CONDITIONS FIFTH and/or SIXTH above, the undersigned may, in its
absolute discretion, pursue any remedy available against the defaulting
buyer, including, but not limited to, taking possession of the horse,
its papers, resale of the horse at public auction or by private treaty
for account of defaulter, and buyer shall be liable for any deficit in
his/her account, all costs of maintenance and resale, attorneys' fees,
costs of litigation, and any other damages available to seller by law.
Barretts, may in its sole and exclusive discretion, pay in part
or in whole a consignor despite a default by buyer, and such payment shall
not constitute a waiver of Barretts' right to withhold from any consignor
any amount not so paid. Time
is of the essence as to all of Buyer's obligations including but not limited
to matters involving settlement of his or her account, payment, taking
possession of and removal of the horse from the premises, and warranty
and arbitration claims. EIGHTH -
RIGHT TO INSPECTION: Buyer acknowledges that he/she has had
the opportunity to inspect and examine, by veterinarian or otherwise,
each horse he/she has purchased and accepts any horse he/she purchases
with all conditions and defects except those which are specifically warranted
in these Conditions. Buyer
further acknowledges that he/she has had the opportunity to inspect the
medication report in the possession of the official state sale veterinarian
pursuant to the California Horse Racing Board regulations set forth in
the catalog. NINTH -
BARRETTS SALES STAKES RACE: The information set forth in this Catalog
regarding Barretts Sales Stakes race is incorporated herein by reference
and is binding upon buyer and consignor. TENTH -
LIMITED WARRANTIES AS TO SOUNDNESS: Unless expressly announced from the auction
stand, or by official publication of the undersigned, or as hereinafter
provided, there is no guarantee of any kind as to the soundness or condition
or other quality of any horse sold in this sale. No statement or representation by Consignor, Barretts, or any
of their agents or employees shall constitute a warranty binding upon
Barretts or Consignor; the warranty provisions authorized by these Conditions
of Sale and announcements from the auction stand shall be exclusive and
are intended to constitute the entire agreement between the parties as
to warranties and the horse's physical condition, and supersede all prior
statements, negotiations and representations.
Any horse whose sexual description is not accurately set forth
in the catalog must be so announced.
Horses which have impaired vision or injury to the eye, are cribbers
or are afflicted with locomotor ataxia (wobbler syndrome) must be so announced.
Yearlings sold after July 1 of their yearling year, horses described
as two-year-olds in training and horses of racing age which, on laryngoscopic
examination, are found to have any defect of wind materially affecting
suitability for racing; have at the time of sale an injury to or disease
of the bone structure which will more likely than not have a material,
chronic and adverse affect upon their suitability to be trained for racing;
are nerved; are currently on the Starter's, Stewards', or Veterinarian's
list at a licensed race course; or are officially designated as "bleeders"
must be so announced. The warranties contained in this CONDITION
shall terminate, regardless of whether seventy-two (72) hours (see CONDITION
FOURTEENTH – Rights of Return) have elapsed, immediately upon removal of the horse
from Barretts sales barns, or use of the horse "under tack"
after buyer or representative discovers or should have discovered facts
indicating there may exist any condition or claim which would permit return
hereunder. Buyer acknowledges
and agrees that there are numerous conditions, injuries and diseases which
may adversely affect a horse's suitability to be trained for racing or
breeding for which no warranty is provided. Consignors are obligated to disclose only those conditions for
which a warranty is expressly provided herein. TWELFTH - WARRANTIES AS TO BROODMARES: Unless otherwise announced
there is no representation or warranty as to the pregnancy and breeding
status of any horse described at time of sale as a horse of racing age. Each mare described as a broodmare or
broodmare prospect in this sale will be offered with veterinary certificate
provided by consignor in a form acceptable to undersigned setting forth
the pregnancy and breeding status of the mare in the opinion of the examining
veterinarian based on manual examination within ten (10) days prior to
date of sale, unless so announced.
Such a mare whose pregnancy and breeding status is not as so represented
may be returned as unsold pursuant to CONDITION FOURTEENTH, provided that
buyer makes a claim in writing to the undersigned within twenty-four (24)
hours after the fall of hammer and prior to removal of the mare from the
Barretts sales barns with a veterinary certificate based upon manual examination
from a veterinarian acceptable to the undersigned so stating attached,
unless such pregnancy or breeding status has materially changed after
the fall of hammer. Any contractual agreement between an owner
of a broodmare in this sale and an owner of a stallion to which the mare
has been bred, the possible return of a mare to any stallion, or the possible
refund of any stud fee does not go with any broodmare unless so announced
at time of sale. THIRTEENTH - CATALOG, ANNOUNCEMENTS AND MEDICATION: Horses
cataloged in this sale are offered by the consignor with the right to
convey unencumbered title, the pedigrees, racing records, eligibility
for incentive programs, engagements and similar matters, breeding status,
produce records, breeders of record, locations where bred, and health
and immunization records as represented by the consignor, and undersigned
is not responsible for the accuracy of information provided. In case of error or omission, buyer shall seek redress only
from consignor. While certain
information may have been procured by undersigned from third parties on
behalf of consignor, it is nonetheless solely the responsibility of consignor
to verify the accuracy of such information and to notify the undersigned
of any corrections prior to sale.
Any horse which the official state veterinarian has determined
to have been medicated must have its medication accurately set forth in
the required medication report to said veterinarian.
Any claim regarding inaccuracy of any such information not otherwise
provided for must be presented in writing to the undersigned within twenty-one
days (21) of the date of sale after which buyer shall have no right to
make any such claims. Time is of the essence. With respect to any claim regarding identity
or the consignor's right to convey unencumbered title to a horse, the
horse shall be subject to return to consignor with refund of purchase
price and reimbursement by consignor for reasonable expenses of keep,
maintenance, and transportation of the horse from fall of the hammer,
provided that immediately on learning of such defect, buyer shall forthwith
notify undersigned in writing; buyer's
right to return the horse on such grounds shall be on condition that such
horse is returnable in substantially the same condition as at the fall
of the hammer. Consignor shall have the right, at his/her
sole and absolute discretion, to cure any defect of identity, title or
claims of encumbrances in lieu of the return provided for herein. With respect to any claim that the horse
is not eligible as announced for any incentive program, engagement or
similar matter, the consignor shall have the right, in his/her sole and
absolute discretion, to establish current eligibility. Eligibility for
stakes engagements, incentive programs and similar matters are as of the
date of sale only, and all payments for such eligibility which are due
after date of sale are solely the responsibility of buyer whose obligation
it is to immediately determine when such payments are due and to promptly
notify the proper organization of new ownership to receive direct billing. Buyers and sellers hereby hold Barretts
Equine Limited and its employees harmless from any responsibility or liability
for the maintenance of Jockey Club Certificates after six months from
the date of sale. Buyer hereby
authorizes Barretts to utilize in its advertising and promotion the name,
photograph, likeness and related information regarding buyer and any horse(s)
buyer purchases in this sale. As
an accommodation to consignors and buyers, Barretts provides timing information
for previews and workouts. While
Barretts uses its best efforts to accurately time and report performances,
Barretts cannot guarantee such accuracy.
Buyer and consignor have the right to engage a clocker or otherwise
determine or verify the timing of any performance, and hereby release
Barretts and its employees, representatives and independent contractors
from any liability or claims arising out of or relating to the timing
or filming of any workouts or performances and the reporting thereof,
whether based upon their own negligence or otherwise.
The remedies of buyer set forth herein shall be his/her sole and
exclusive remedies against undersigned and consignor with respect to such
claims, and neither undersigned nor consignor shall be liable for any
further or consequential damages other than those set forth herein. FOURTEENTH - RIGHT OF RETURN: Any horse sold in this sale whose condition
must be announced as provided for at CONDITIONS TENTH, ELEVENTH, TWELFTH
and THIRTEENTH above, and is not so announced, shall be subject to return
to consignor with refund of purchase price and reimbursement by consignor
for reasonable expenses of keep, maintenance, and transportation of the
horse from fall of the hammer, provided that immediately on learning of
such defect, buyer shall forthwith notify undersigned in writing and provide
veterinary certificate as to the condition based on examination within
the applicable warranty period.
All warranties terminate seventy-two (72) hours
after the last sales session, unless specifically otherwise provided herein,
after which buyer shall have no right of return under this CONDITION. In addition, all warranties on any horse
of racing age, except those contained in CONDITION THIRTEENTH, terminate
immediately that such horse starts in a race, regardless of time elapsed
since date of sale. Further,
any use of any horse of racing age "under tack" after buyer
or his/her representative discovers or should have discovered facts indicating
there may exist any condition of such horse which would permit its return
as provided herein, shall void all right of return and terminate all warranties. Time is of the essence in these provisions.
The right of buyer to return the horse as provided herein shall
be his/her sole and exclusive remedy against undersigned and consignor
with respect to warranties, and neither undersigned nor consignor shall
be liable for any further action or consequential damages other than those
set forth herein. Regardless of whether a warranty or other
claim is made, Barretts shall be entitled to pay the sale proceeds to
Consignor. In any event,
Barretts shall not be liable to Buyer for sale proceeds or any other amounts;
Buyer shall look solely to Consignor for any amount to which Buyer is
entitled including but not limited to purchase price, sales tax, reimbursement
of expenses, interest or damages of any kind. FIFTEENTH - ARBITRATION: (A) Any controversy arising out of a claim
made for a sale session of two-year-olds in training or for a sale of
a yearling sold after July of its yearling year at a sale exclusively
of yearlings under CONDITIONS TENTH or ELEVENTH and where such claim in
writing is properly made to the undersigned at the place of sale within
forty-eight (48) hours after the end of the session in which the horse
is sold, shall be settled by arbitration between the parties as follows:
Simultaneously with the presentment of a claim to Barretts, buyer shall,
personally or through his/her authorized representative, based upon an
examination of the Veterinary Arbitration Panel ("PANEL") member
list for said sale at the Barretts Sales Office, in writing notify Barretts
of any member of the PANEL which he/she seeks to disqualify on the ground
that the member has a direct financial interest in the purchase or sale
of the subject horse, or is otherwise biased in favor of or against either
party, specifically identifying the basis of such challenge.
Upon Barretts' determination that a claim has been timely and properly
presented by buyer, Barretts shall notify the consignor of the claim,
and consignor shall forthwith similarly notify Barretts in writing of
any such challenge he/she may have to any PANEL member on said grounds.
Barretts shall, in its sole discretion, determine the validity
of any such challenge, and shall appoint members of the PANEL to arbitrate
the claim. Barretts shall determine the number of
members who shall arbitrate a claim, but shall appoint at least three
(3) members if the sale price, exclusive of any sales tax, is more than
$100,000.00. The appointed
members shall determine the claim (by majority if there is more than one
arbitrator) and the arbitrators may engage such consultants and conduct
such investigation, tests and examinations as they see fit.
The arbitrators shall determine the claim and shall all sign notice
of such determination, which signatures shall indicate that the majority
of such arbitrators joined in such determination.
The undersigned shall determine the amount of reimbursement due
to a buyer whose claim is found to be valid, and may, in its discretion,
conduct a hearing to do so; and such determination shall be incorporated
in the award. In addition,
the non-prevailing party shall pay Barretts the sum of $750 toward reimbursement
of the cost of arbitration, plus any additional costs incurred by the
arbitrators in determining the claim.
Barretts may augment the list of PANEL members if it deems such
action appropriate, and upon such notification, the parties shall notify
Barretts of any challenge on the grounds set forth above to any new PANEL
member. In the event of a claim to which this Condition Fifteenth (A)
applies and which is based upon Condition Eleventh relating to a two-year-old
in training for which the consignor has submitted appropriate radiographs
to the Radiograph and Laryrngoscopic Videotape Repository (see "Important
Notices" contained in your catalogue), then the warranty provisions
and procedure specified by these Conditions shall be modified in the following
respects only: the Panel
shall make an initial determination as to whether the radiographs disclose
the condition upon which the claim is based; if the Panel determines the
condition is so disclosed, then a determination of the Panel that the
claim is valid (and the horse is subject to return) may be made only if
the Panel also determines (1) that the horse has an injury to or disease
of the bone structure and (2) such injury or disease will to a
medical certainty have a material, chronic and adverse effect upon its
suitability to be trained for racing. (B) Any controversy arising out of a claim
made under CONDITION TENTH or TWELFTH hereof to which subdivision (A)
of this CONDITION FIFTEENTH does not apply shall be settled by arbitration
between the parties as follows:
Upon the sales company's determination that a claim has been timely
and properly presented by buyer, and upon notice from the sales company,
the buyer and the consignor shall each select a licensed veterinarian
specializing in equine medicine.
If the veterinarians fail to agree as to the validity of the claim,
they or their principals shall agree upon a third licensed veterinarian
and the panel of three shall conduct any tests, investigation or examinations
that they deem necessary, and shall determine the validity of the claim.
If the two veterinarians or their principals are unable to promptly
agree upon the third veterinarian, the undersigned shall appoint one. The third veterinarian's fee and costs
shall be paid by the party whose property the horse is determined to be. The undersigned shall determine the amount
of reimbursement due to a buyer whose claim is found to be valid, and
may, in its discretion, conduct a hearing to do so; and such determination
shall be incorporated in the award.
(C) Any other claim or controversy between a consignor, buyer and/or
the undersigned arising out of or relating to this sale, or any agreement,
consignment or horse in relation to this sale, shall be settled by arbitration
between the parties in accordance with the rules of the American Arbitration
Association; the Association shall utilize for its proposed panel members
only former Judges. (D) Arbitration
shall take place in Los Angeles, California. Judgment upon any award rendered by the arbitrator(s) may be
entered in any court having jurisdiction thereof, and petitions to confirm
or vacate any such award may be served by certified mail. In the event of any arbitration or litigation,
the prevailing party will be entitled to reasonable attorneys' fees and
legal costs. No party shall
be liable for consequential or special damages except as specifically
set forth herein. Barretts
shall be entitled to recover any costs or expenses incurred in connection
with the care and maintenance of the subject horse, including but not
limited to the third veterinarian's fee, along with its attorneys' fees
and legal and arbitration costs. SIXTEENTH - SALES TAX: If buyer intends to ship any horse he/she
purchases out of state or out of county, he/she agrees to sign and deliver
to auctioneer prior to sale a Pre-sale Interstate Delivery Agreement directing
such shipment at his/her risk and expenses via a licensed carrier to him/her
at that point. Barretts shall
deliver such horse only in accordance with instructions and arrangements
that buyer shall provide for shipment.
Buyer acknowledges that to qualify for a sales tax exemption, such
horse MAY NOT BE TRAINED OR OTHERWISE USED IN CALIFORNIA while awaiting
shipment out of state. Should
sales tax be imposed on any purchase for any reason, buyer will be solely
responsible for such sales tax and will pay it upon demand. SEVENTEENTH - AGREEMENT: These Conditions of Sale, the Acknowledgement
of Purchase and any documents incorporated herein or concurrently executed
shall constitute the entire agreement between the parties hereto with
respect to the subject matter hereof and shall supersede all prior agreements,
understandings, warranties, representations and negotiations of any party
herein, including but not limited to Barretts, the buyer and the Consignor,
concerning the subject matter hereof. None of the terms and conditions set forth herein made shall
be modified or waived except as approved in writing by Barretts and the
party affected thereby. Barretts
shall not be bound by any oral or written agreement or alleged agreement
varying from these Conditions of Sale between the buyer and the consignor
unless agreed to in writing Barretts, and any controversy or claim between
the buyer and the consignor arising under any such agreement shall be
a matter for their resolution by settlement, litigation, arbitration or
otherwise as they determine. EIGHTEENTH - SEVERABILITY: If any provision of these Conditions of
Sale is held to be illegal or invalid, such illegality or invalidity shall
not affect the remaining provisions of these Conditions of Sale, and they
shall be continued and enforced as if such illegal or invalid provision
had never been inserted herein. NINETEENTH - LIMITATIONS OF ACTION: Any action or proceeding arising out of
or related to these Conditions of Sale or the purchase of a horse in this
sale must be commenced within one (1) year after the date of the sale,
regardless of when the facts giving rise to the claim are discovered;
provided, however, that such limitation shall not apply to any action
by the undersigned against buyer for purchase price, foreclosing a lien
or other damages.
|
||
HOME PAGE |
GENERAL INFORMATION |
CURRENT CATALOGUE |
NEWS LINE |
TRAINING PREVIEWS |
FOR JAPANESE |
Best browsed with Netscape 2.0 or better