Conditions of Sale

LeitzArt2008

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THESE CONDITIONS OF SALE ARE OUR ENTIRE AGREEMENT WITH THE BUYER, WITH RESPECT TO THE PROPERTY LISTED IN THIS VIRTUAL CATALOGUE. THE CONDITIONS OF SALE AND ALL OTHER CONTENTS OF THIS WEBSITE MAY BE AMENDED BY POSTED NOTICES OR ORAL ANNOUNCEMENTS MADE DURING THE SALE. THE PROPERTY WILL BE OFFERED BY US UNLESS THE VIRTUAL CATALOGUE INDICATES OTHERWISE. BY PURCHASING OR LEASING TO OWN, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS.

A. The authenticity of the authorship of property listed in the virtual catalogue is guaranteed to be the work of Leitz and is warranted to be authentic and not counterfeit, unless the description of such work is qualifiedly stated to be the work of another in which case the authenticity of authorship is not guaranteed. The term "authorship" refers to the creator of the property. All property is sold "AS IS" without any representations or warranties by us as to the merchantability, fitness for a particular purpose, description, size, quality, rarity, importance, medium, provenance, exhibition history, literature or historical relevance of any property. No statement set forth in this virtual catalogue or made in the bill of sale, lease agreement or otherwise, whether oral or written, shall be deemed such a warranty, representation or assumption of liability. We make no representations and warranties, express or implied, as to whether the purchaser acquires any copyrights for any reproduction rights in any property. We are not responsible for errors and omissions in the virtual catalogue or any supplemental material.

B. The purchase price payable by a buyer will be the sum of the price plus any applicable sales or compensating use tax. In the case of a lease-to-own arrangement, the buyer will make twelve monthly lease payments for one year, each lease payment being the sum of one tenth of the price plus any applicable sales or compensating use tax.

C. We reserve the right to withdraw any property before or at the sale and shall have no liability whatsoever for such withdrawal.

D. We reserve the right to cancel the sale or to reoffer and resell any property.

E. Title to the offered property passes to the buyer upon written confirmation that the property has been sold, subject to compliance by the buyer with all other Conditions of Sale. The buyer assumes full risk and responsibility for the property and shall immediately pay the full purchase price, or in the case of a lease-to-own agreement, shall pay monthly lease payments, or such part as we, in our sole discretion, require. In addition, the buyer may be required to sign a confirmation of purchase or lease. We reserve the right to impose a late charge of 16% per annum on the total outstanding balance if payment is not made in accordance with this paragraph.

F. No property may be delivered until the buyer has paid the purchase price in full, or in the case of a lease-to-own agreement, paid one lease payment, or has satisfied such terms as we, in our sole discretion, shall require. Subject to the foregoing, all properties are to be paid in full or initial lease payents are to be made no later than 5:00 p.m. on the seventh calendar day following the purchase or lease.

G. We may remove the property from an offsite gallery at the risk of the buyer. We are not responsible for our acts or omissions in the handling, packing, or shipping of purchased property or those of other handlers, packers or carriers of purchased property. Packing and handling of purchased property are at the entire risk of the buyer. If we arrange and bill for such services via invoice or credit card, we will include an administration charge.

H. If the buyer fails to comply with any of these Conditions of Sale, we may, in addition to asserting all remedies available by law, including the right to hold such defaulting buyer liable for the purchase price, (1) cancel the sale, retaining as liquidated damages any payment made by the buyer, (2) resell the property on seven days' notice to the buyer, (3) take such other action as we deem necessary or appropriate. If we resell the property pursuant to clause (2) above, the defaulting buyer shall be liable for the payment of any deficiency between the purchase price and the price obtained upon resale pursuant to clause (2) above and all costs and expenses, including administration, handling, insurance, warehousing, the expenses of both sales, reasonable attorney's fees, commissions, incidental damages and all other charges due hereunder. In the event that a portion of the purchase price for any or all property purchased, we shall apply the payment received to such property or properties that we, in our sole discretion, deem appropriate. Any buyer who fails to comply with these Conditions of Sale will be deemed to have granted us a security interest in, and we may retain as collateral security for such buyer's obligation to us, any property purchased or leased from us by such buyer.

I. The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the sale shall be governed and interpreted by the laws of the state of Connecticut. By purchasing or leasing-to-own, whether present in person or by agent, telephone, e-mail, or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the courts of such state and the Federal courts sitting in such state. The buyer expressly agrees that (1) we shall not be liable, in whole or in part, for any special, indirect or consequential damages, including, without limitation, loss of profits and (2) the buyer's damages are limited exclusively to the original purchase price paid for the property, and in the case of a lease-to-own agreement, the first payment paid for the property.

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