Terms and Conditions of Sales

Conditions of Sale

1. In these Conditions of Sale the term "Auctioneer" refers to Kaye's Auction House Inc.

2. The Auctioneer is selling all goods as an agent for the seller of the goods (unless otherwise specifically declared).

3. The buyer shall be the person making the highest bid which is acceptable to the Auctioneer. In the event of a dispute as to the identity of the highest bidder either before or immediately after the sale of any lot the Auctioneer may, at the Auctioneer's sole discretion, determine the successful bidder of re-offer the lot for sale.

4. The Auctioneer has the sole discretion to refuse any bid, advance the bidding, withdraw or divide any lot, combine one lot with another or others and to exclude any person from the auction premises.

5. The Auctioneer shall have the right to bid on behalf of any person.

6. While the Auctioneer has made a reasonable effort to catalogue and describe the various goods or lots to be sold, neither the Auctioneer nor the seller makes any representation as to the correctness of the catalogue description of any lot or item in a lot. All buyers agree that they are purchasing the goods on an "as is" where is basis, in reliance solely on their own inspection of the goods and that the sale is not subject to any express, implied or statutory warranties or conditions as to merchantability, fitness for a particular purpose.

Bidder acknowledges that it is his/her responsibility to inspect all equipment and to make his/her own inquiries. All merchandise purchased as is where is with all its faults. There shall be no guarantees or warranties expressed or implied statutory or otherwise of any nature whatsoever, each and every lot will be sold "as is, where is". Specifically but not to restrict the generality of the foregoing, the auctioneer make no representation or warranty that any of the lots the subject of the auction: (A) conform to any safety or pollution standard or to any other standard or requirement or any applicable authority, law or regulation, or (B) are fit for any particular purpose, or (C) are merchantable or financeable or (D) are of any particular age, year of manufacturer, model, make or condition.

7. The buyer shall be responsible for any loss or damage to the goods immediately after being accepted as the successful bidder, but title to the goods shall not pass to the buyer until the purchase price has been paid in full.

8. Unless exempted by law all buyers are required to pay Goods and Services Tax and Retail Sales Tax on all purchases.

9. Unless otherwise specified, the purchase price is due on the day of the sale. Buyers shall pay the seller interest on any unpaid portion of the purchase price at the rate of 2% per month (26.8% per annum).

10. Buyers may pay the purchase price to the Auctioneer by way of cash and when specified by the Auctioneer, Visa, Mastercard, Interac, bank draft, certified cheque or cheque. In the case of payment by cheque, title to the goods shall not pass to the buyer until the buyers cheque has been honoured. All cheques shall be made payable to the Auctioneer unless otherwise specified by the Auctioneer.

11. Buyers shall not have the right to remove goods from the auction premises until they have paid the purchase price in full or tendered a cheque for the purchase price in full.

12. Buyers shall remove goods from the auction premises at their own expense before the close of business on the day following the sale by such earlier or later time as may be announced by the Auctioneer at the sale. If goods are not removed within the time specified the buyer shall pay the Auctioneer or other person on whose premises the goods are located, reasonable storage charges.

13. If a Buyer fails to pay for any goods purchased the Auctioneer shall have the right to (a) retake possession of the goods and may enter onto any premises where the goods be located for that purpose, (b) to resell the goods by public auction or otherwise without notice to the buyer, in which case the buyer shall be responsible to the Auctioneer and the seller for any difference between the price bid by the buyer and the price received on the subsequent sale after deducting all expenses of taking possession of the goods and the sale, including costs on a solicitor and own client basis, and the seller shall be entitled to retain any surplus which may result on such resale (c) to register financing statements or other notices in appropriate registries claiming a security interest in the goods, (d) to sue the buyer for the unpaid purchase price and to exercise any other remedies which may be available at law.

14. These Conditions of Sale may be modified for a particular auction by specific conditions of sale printed on any advertisement or catalogue given by the Auctioneer for that auction but may not be modified by any oral statements made by a representative of the Auctioneer of the seller ANNOUNCED OR POSTED BY THE AUCTIONEER AT OR BEFORE THE AUCTION.

INJURY AND DAMAGE: Bidder acknowledges responsibility for any personal injury or property damage caused by the bidder or his/her agent, and further agrees to hold the auctioneer and owner harmless for any personal injury to himself/herself or his/her agents or any property, incurred on sale premises.

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