2002 RAZORBACK ROUNDUP TERMS AND CONDITIONS OF SALE

Applicable Law - All horses are offered according to the laws of the State of Arkansas.  There are no warranties or guarantees implied as to the fitness for any particular purpose(s) of any horse offered in this sale.  All known unsoundnesses or vices shall be documented, placed in notebooks, and made available for review before the sale. Buyers are cautioned to examine these notebooks and the horses closely before purchasing. Every effort has been made to give complete disclosure of all known negative factors (health, disposition, management, etc.) on all horses in the sale.  However, no agent of The University of Arkansas can or shall be considered responsible for any oversight of a fault.  Any desired Veterinary examinations are to be conducted prior to sale day at the Buyer's expense, and by appointment only.  There are no guarantees whatsoever regarding broodmares in foal, pregnancy status, future "breedability" or eventual foaling. All horses are sold "caveat emptor" (buyer beware)!  All sales are final.  All sales are absolute.

Public Inspection - Horses are available for public inspection from 4:00 PM - 6:00 PM, November 8th. As our primary mission is education, and disruption of classes and laboratories is detrimental, we respectfully request that inspection of sale horses be confined to these dates and times.

Bidding Procedure - Highest bidder shall sign an Acknowledgment of Purchase.  Absentee bids must have payment method approved prior to the sale.  The D. E. King Program Director will decline any bids made by parties who have defaulted on former purchases, or persons who in her sole judgment are not responsible bidders, and the Program Director's decision shall be final.  To prevent selling horses at or below slaughter price, the Program Director reserves the right to set a "floor price" on each horse.  The floor price shall be determined by the following formula; weight of horse x current per pound price of slaughter horses + $50.  Besides this, no other reserves shall be made.

Bidding Disputes - Should any dispute arise between any two bidders, the Program Director shall adjudicate the dispute and her decision shall be absolute.  Bids received after the fall of the "hammer" are not valid. In case of dispute advanced bidding shall be restricted to the contending parties, but should the recognized bid have to be reduced below the bid at commencement of the dispute, then bidding shall be reopened to all bidders.

Risk to Horses - The purchaser, at the gavel fall, assumes all risk and responsibility for the horse.  All horses must be removed from the farm immediately following the sale or during open barn hours the following morning (Saturday, November 9, 9:30 am - 2:00 pm). To take possession a stable release form will be required. During the stay of the horse, students and staff shall continue to provide all normal care.  Students or staff will be available to assist with wrapping legs (wraps are not provided, in the interest of safety to your new horse we recommend bringing wraps or bandages) and loading of horses, but without any liability being accepted for injury or accidents to animals, persons or equipment.  A $25 a day boarding fee will be assessed for horses left after open barn hours (starting at 2:00 pm, November 9th) and an appointment will have to be made for barn staff to assist with pick up and loading.  During the stay of the horse, neither the University of Arkansas, its employees, officers or agents shall be liable for any accidents, disease, death or injury to any horse.  Nor shall the aforementioned agents be responsible for any accidents or injuries inflicted by the horse on any persons, facilities or equipment.

Payment - Purchaser must make payment by cash, cashier's check or personal check within thirty minutes of the conclusion of the sale, at which time a stable release form for the horse shall be given.  Make all checks payable to The University of Arkansas Equine Program.  On purchases by personal check, title and/or registration papers shall be held until funds clear the bank, at which time they shall be mailed or may be picked up by the new owner.  Horses purchased by cash or cashier's check shall have their title and/or registration papers transferred at the time of payment.  Purchaser may not stop payment on a check given in payment for a horse or its board for any reason.

Public Liability - Neither The University of Arkansas, its employees, officers or agents assume any responsibility for any injury, death, or damage to a person or animal of any kind. For liability reasons, horses may only be handled and ridden by students in the University of Arkansas program. Examine horses at your own risk.  The public is cautioned to be extremely careful while on the grounds examining horses and particularly while horses are being ridden.  Do not enter stalls or paddocks unattended under any conditions. A student or staff member will be happy to assist you in viewing the horses.