Page 88 - Bonhams Royal Collection Fine Japanese Art London Nov. 2019

4 FITNESS FOR PURPOSE AND SATISFACTORY 7.2 The Seller is entitled to withhold possession from you notice to sell, Without Reserve, any of your other
QUALITY of any other Lot he has sold to you at the same or property in the possession of the Seller and/or of
at any other Sale and whether currently in Bonhams’ Bonhams (as bailee for the Seller) for any purpose
4.1 The Seller does not make and does not agree possession or not, until payment in full and in cleared (including, without limitation, other goods sold to
to make any contractual promise, undertaking, funds of the Purchase Price and all other sums due you) and to apply any monies due to you as a result
obligation, guarantee, warranty, or representation of to the Seller and/or Bonhams in respect of the Lot. of such Sale in satisfaction or part satisfaction of any
fact in relation to the satisfactory quality of the Lot or amounts owed to the Seller or to Bonhams; and
its fitness for any purpose. 7.3 You should note that Bonhams has reserved the right
not to release the Lot to you until its investigations 8.1.10 so long as such goods remain in the possession
4.2 The Seller will not be liable for any breach of any under paragraph 3.11 of the Buyers’ Agreement of the Seller or Bonhams as its bailee, to rescind
undertaking, whether implied by the Sale of Goods set out in Appendix 2 have been completed to the contract for the Sale of any other goods sold to
Act 1979 or otherwise, as to the satisfactory quality Bonhams’ satisfaction. you by the Seller at the Sale or at any other auction
of the Lot or its fitness for any purpose. or by private treaty and apply any monies received
7.4 You will collect and remove the Lot at your own from you in respect of such goods in part or full
5 RISK, PROPERTY AND TITLE expense from Bonhams’ custody and/ or control or satisfaction of any amounts owed to the Seller or to
from the Storage Contractor’s custody in accordance Bonhams by you.
5.1 Risk in the Lot passes to you after 7 days from the with Bonhams’ instructions or requirements.
day upon which it is knocked down to you on the 8.2 You agree to indemnify the Seller against all legal
fall of the Auctioneer’s hammer in respect of the 7.5 You will be wholly responsible for packing, handling and other costs of enforcement, all losses and other
Lot, or upon collection of the Lot if earlier. The Seller and transport of the Lot on collection and for expenses and costs (including any monies payable
will not be responsible thereafter for the Lot prior complying with all import or export regulations in to Bonhams in order to obtain the release of the
to you collecting it from Bonhams or the Storage connection with the Lot. Lot) incurred by the Seller (whether or not court
Contractor, with whom you have separate contract(s) proceedings will have been issued) as a result of
as Buyer. You will indemnify the Seller and keep the 7.6 You will be wholly responsible for any removal, Bonhams taking steps under this paragraph 8 on
Seller fully indemnified from and against all claims, storage or other charges or expenses incurred by a full indemnity basis together with interest thereon
proceedings, costs, expenses and losses arising in the Seller if you do not remove the Lot in accordance (after as well as before judgement or order) at the
respect of any injury, loss and damage caused to with this paragraph 7 and will indemnify the Seller rate specified in paragraph 8.1.6 from the date upon
the Lot beyond 7 days from the day of the fall of the against all charges, costs, including any legal costs which the Seller becomes liable to pay the same until
Auctioneer’s hammer until you obtain full title to it. and fees, expenses and losses suffered by the Seller payment by you.
by reason of your failure to remove the Lot including
5.2 Title to the Lot remains in and is retained by the any charges due under any Storage Contract. All 8.3 On any resale of the Lot under paragraph 8.1.2, the
Seller until: (i) the Purchase Price and all other such sums due to the Seller will be payable on Seller will account to you in respect of any balance
sums payable by you to Bonhams in relation to demand. remaining from any monies received by him or on
the Lot have been paid in full to and received in his behalf in respect of the Lot, after the payment of
cleared funds by Bonhams, and (ii) Bonhams has 8 FAILURE TO PAY FOR THE LOT all sums due to the Seller and to Bonhams, within
completed its investigations pursuant to clause 3.11 28 days of receipt of such monies by him or on his
of the Buyer’s Agreement with Bonhams set out in 8.1 If the Purchase Price for a Lot is not paid to behalf.
Appendix 2 in the catalogue. Bonhams in full in accordance with the Contract for
Sale, the Seller will be entitled, with the prior written 9 THE SELLER’S LIABILITY
6 PAYMENT agreement of Bonhams but without further notice to
you, to exercise one or more of the following rights 9.1 The Seller will not be liable for any injury, loss or
6.1 Your obligation to pay the Purchase Price arises (whether through Bonhams or otherwise): damage caused by the Lot after the fall of the
when the Lot is knocked down to you on the fall of Auctioneer’s hammer in respect of the Lot.
the Auctioneer’s hammer in respect of the Lot. 8.1.1 to terminate immediately the Contract for Sale of the
Lot for your breach of contract; 9.2 Subject to paragraph 9.3 below, except for breach of
6.2 Time will be of the essence in relation to payment of the express undertaking provided in paragraph 2.1.5,
the Purchase Price and all other sums payable by 8.1.2 to resell the Lot by auction, private treaty or any the Seller will not be liable for any breach of any term
you to Bonhams. Unless agreed in writing with you other means on giving seven days’ written notice to that the Lot will correspond with any Description
by Bonhams on the Seller’s behalf (in which case you of the intention to resell; applied to it by or on behalf of the Seller, whether
you must comply with the terms of that agreement), implied by the Sale of Goods Act 1979 or otherwise.
all such sums must be paid to Bonhams by you in 8.1.3 to retain possession of the Lot;
the currency in which the Sale was conducted by 9.3 Unless the Seller sells the Lot in the course of a
not later than 4.30pm on the second working day 8.1.4 to remove and store the Lot at your expense; Business and the Buyer buys it as a Consumer,
following the Sale and you must ensure that the
funds are cleared by the seventh working day after 8.1.5 to take legal proceedings against you for any sum 9.3.1 the Seller will not be liable (whether in negligence,
the Sale. Payment must be made to Bonhams by due under the Contract for Sale and/or damages for other tort, breach of contract or statutory duty or in
one of the methods stated in the Notice to Bidders breach of contract; restitution or under the Misrepresentation Act 1967,
unless otherwise agreed with you in writing by or in any other way) for any lack of conformity with,
Bonhams. If you do not pay in full any sums due in 8.1.6 to be paid interest on any monies due (after as well or inaccuracy, error, misdescription or omission in
accordance with this paragraph, the Seller will have as before judgement or order) at the annual rate any Description of the Lot or any Entry or Estimate in
the rights set out in paragraph 8 below. of 5% per annum above the base rate of National relation to the Lot made by or on behalf of the Seller
Westminster Bank Plc from time to time to be (whether made in writing, including in the Catalogue,
7 COLLECTION OF THE LOT calculated on a daily basis from the date upon which or on the Website, or orally, or by conduct or
such monies become payable until the date of actual otherwise) and whether made before or after this
7.1 Unless otherwise agreed in writing with you by payment; agreement or prior to or during the Sale;
Bonhams, the Lot will be released to you or to your
order only when: (i) Bonhams has received cleared 8.1.7 to repossess the Lot (or any part thereof) which has
funds to the amount of the full Purchase Price not become your property, and for this purpose
and all other sums owed by you to the Seller and (unless the Buyer buys the Lot as a Consumer from
to Bonhams and (ii) Bonhams has completed its the Seller selling in the course of a Business) you
investigations pursuant to clause 3.11 of the Buyer’s hereby grant an irrevocable licence to the Seller by
Agreement with Bonhams set out in Appendix 2 in himself and to his servants or agents to enter upon
the catalogue. all or any of your premises (with or without vehicles)
during normal Business hours to take possession of
the Lot or part thereof;
8.1.8 to retain possession of any other property sold to
you by the Seller at the Sale or any other auction
or by private treaty until all sums due under the
Contract for Sale shall have been paid in full in
cleared funds;
8.1.9 to retain possession of, and on three months’ written

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