CONDITIONS OF SALE

SPECIAL CONDITIONS

A. Users of the Magic Millions Live Bidding site must be 18 years of age or older and be able to enter into a legal and binding contract.

B. Auctioneer is not responsible for bids that were not processed due to technical problems and or delays.

C. Purchasers experiencing any loss from the use of the Magic Millions Live Bidding site agree to indemnify and hold the Auctioneer harmless regarding losses or damages experienced through the use of the Magic Millions Live Bidding Website. This includes losses as a direct result or errors or problems on the Internet or on the service or any other condition arising that is beyond the Auctioneers' control.

D. The Auctioneer shall not be liable for any special, incidental or consequential damages or for loss, damage, or expense directly or indirectly arising from Purchaser's use of or inability to use the service.

E. The Auctioneer cannot guarantee prevention of any inappropriate use of the system or of users registering with any false information or the preservation of any material, information and records posted on the Web site. 

Please read relevant Sale Conditions below:

Magic Millions 2010 National Weanling Sale
Magic Millions 2010 National Broodmare Sale
Magic Millions 2010 National Yearling & Racehorse Sale

MAGIC MILLIONS 2010 NATIONAL WEANLING SALE

IMPORTANT: PLEASE READ
All bids and offers to purchase shall be treated as offers made upon the following Conditions of Sale and all persons attending the Sale or bidding at the Sale shall be deemed to have notice of such Conditions of Sale.

1.            INTERPRETATION
1.1          In these Conditions:
                'Auctioneer' means Magic Millions Sales Pty Limited (ABN 54 078 396 317) and having Auctionneer's and Agent's Licence No. 2005419 and includes its officers and agents; 'Purchaser' means the person or corporation to whom any Lot is sold as referred to in Condition 2; 'Vendor' means the person or corporation on whose behalf any Lot is sold by the Auctioneer and where more than one shall mean each severally and any two or more jointly; 'Promoter' means Magic Millions Promotions Pty Limited (ABN 41 088 197 200) or any other party, identified in the Sale catalogue or other documentation issued in respect of the Sale as the promoter or sponsor of the Sale or of a closed race series or incentive race series in association with which the Sale is conducted; 'Series Race' means the closed race series or incentive race series (if any) identified in the Sale catalogue or other documentation issued in respect of the Sale; 'Lot' or 'horse' includes gelding, colt and filly.  The expression 'colt' includes rig or crypt orchid, namely male animals in which one or both testes have not descended into the scrotum from the abdomen.
1.2          Where the Purchaser of any Lot comprises more than one person or corporation these Conditions shall bind each such person or corporation severally and any two or more of such persons or corporations jointly.
1.3          A bidder is taken to be a principal unless, before bidding, the bidder has given to the Auctioneer a copy of a written authority from a third party principal to bid for or on behalf of that third party principal.

2.            CONDUCT OF SALE
2.1          The Vendor shall have the right to bid personally or through an agent.
2.2          All bidders must have registered their names and addresses with the Auctioneer prior to the commencement of the sale.
2.3          The highest bidder shall be the Purchaser, subject to any Reserve Price.  Should any dispute arise concerning bidding, the Lot shall be immediately put up for Sale at the last undisputed bid or the dispute may be determined by the Auctioneer, whose decision shall be final and binding.
2.4          The Auctioneer shall have the right, in its absolute discretion to;
2.4.1      determine who is the Purchaser;
2.4.2      settle any dispute in such manner as it thinks fit;
2.4.3      withdraw any Lot before or during the Sale;       
2.4.4      advance the bidding as it thinks fit;
2.4.5      exclude any person from the Sale venue; or
2.4.6      refuse to acknowledge any bid without giving any reason therefore, and the Auctioneer's decision shall be final and binding upon all persons;
2.4.7      determine an upset price on each Lot entering the ring.  If an opening bid of the appropriate figure is not forthcoming to the Auctioneer's call within thirty (30) seconds, a Lot may be passed out of the ring.  The Vendor shall be entitled to instruct the Auctioneer to re-offer that Lot on completion of the Auction and the horse shall be re-offered without reserve;
2.4.8      bid as an Agent on behalf of a principal.
2.5          Subject to any Reserve Price, all Lots are sold at the final bid accepted by the Auctioneer in Australian currency dollars.  (Any other bids or currencies displayed on the Indicator Board are displayed as a guide only.)
2.6          As soon as practical after the fall of the hammer the Purchaser will sign an agreement (if any), for sale/acknowledgement of purchase form in a form requested by the Selling Agent.
2.7          Any Auctioneer's announcements on the day of the sale which are announcements from the Auctioneer's stand will take precedence over:
2.7.1      these Conditions;
2.7.2      any statements in the Sale Catalogue; or
2.7.3      any other written or oral statement, particular or representation previously published or made.
2.8          Any further or different conditions relating to any sale or any Lot or any Purchaser must be recorded in writing and signed prior to the Auction by or on behalf of the Vendor, the Purchaser and the Auctioneer, and ,if not so recorded, shall be of no effect.

3.            RESERVED SALE
3.1          Where the Sale is conducted as a Reserved Sale, the following provisions will apply.
3.2          Reserve cards will be mandatory.  The Vendor must advise the Auctioneer in writing of the reserve price for each Lot before the Lot is offered for Sale. Where no reserve card is provided the Vendor or his representative must attend in the Auctioneer's rostrum to advise the Auctioneer and will be required to sign a reserve card before leaving the rostrum if the Lot is passed in.  Should there be no reserve card, no Vendor or Vendor's representative in the Auctioneer's rostrum at the time that the Lot is offered for Sale, then the Lot shall be sold to the highest bidder and the Vendor shall pay the full commission and any other amounts payable.
3.3          The last bidder shall have the option to buy at the reserve price of a passed in Lot.  This option must be exercised prior to the Lot leaving the Sale ring.  The Auctioneer shall be entitled to commission on any Lot so sold, as if it were sold under the hammer.

4.            RISK AND EXPENSE
4.1          Upon the fall of the hammer each Lot shall be at the risk and expense in all respects of the Purchaser and the Purchaser shall indemnify the Auctioneer in respect of and pay to the Auctioneer on demand all loss, damage, costs and expenses incurred or suffered by the Auctioneer in respect of the Lot while the Lot is at the Purchaser's risk and expense.  In particular, the Purchaser will be liable for livery, agistment and transport charges for Lots not removed on the day of the Sale and they may be moved to alternate stables or agistment at the Auctioneer's discretion.  Payment for Lots shall not be regarded as made until such charges have been paid.
4.2          Prior to the fall of the hammer each  Lot shall be at the risk and expense in all respects of the Vendor, and the Vendor shall indemnify the Auctioneer in respect of and pay to the Auctioneer on demand all loss, damage, costs and expenses incurred or suffered by the Auctioneer in respect of the Lot while the Lot is at the Vendor's risk and expense.
4.3          Notwithstanding any other provisions hereof, the Auctioneer shall not be liable for any damage, loss or injury occurring to any Lot or to any person or property caused by any Lot, whether caused by disease, accident, the negligence of the Auctioneer or otherwise and whether the Lot shall be in the custody, control or possession of the Auctioneer or otherwise.
4.4          The Auctioneer may upon receipt of written instructions so to do or where the Auctioneer in its absolute discretion considers it desirable to do so, make arrangements on the Purchaser's or Vendor's behalf for the stabling, feeding, transportation or general attendance to Lots while at the Sales venue provided that the Auctioneer accepts no responsibility for any act or omission whether negligent or otherwise in respect of the stabling, feeding, transportation or general attendance of any Lot.
4.5          Any Lot not sold or in respect of which any Sale is subsequently terminated shall remain at or revert to the risk and expense in all respects of the Vendor who shall arrange for the removal of the Lot immediately following the Sale.

5.            INSPECTION AND EXAMINATION
5.1          All Lots may be inspected at reasonable times prior to Sale.  Prior to Sale, a prospective Purchaser may arrange for a veterinary examination of a Lot with the Vendor.  Such examination shall be carried out in the privacy of a stable and may not be carried out in the Sale ring or within the public view.  The cost of this examination shall be paid for by the prospective Purchaser, solely to whom the veterinarian should make his report.  The Auctioneer or Vendor may refuse examination.
5.2          The Purchaser assumes all consequences and risk arising from failure to carry out an inspection or to seek an inspection or to seek an examination of a Lot.

6.            PURCHASE AND PAYMENT
6.1          On the fall of the hammer the Purchaser shall give his name and address and the name and address of the principal for whom he bids (if applicable) to the Auctioneer and shall immediately complete, sign and hand to the Auctioneer an acknowledgement of his purchase in such form as shall be required  by the Auctioneer and provide to the Auctioneer any such other information in respect of the purchase as the Auctioneer may reasonably require.
6.2          If the Purchaser fails to comply with the requirements of Condition 6.1, then the Auctioneer may elect to declare the Purchaser in default and cancel the sale and re-sell the Lot.  If, on resale of the Lot, a lower price is obtained, then the difference in price plus any expenses of the resale shall be a debt owing by the Purchaser to the Vendor payable on demand, with interest at the rate of 1% per month from the date of resale until payment.
6.3          Horses are sold with all engagements, if any.
6.4          Subject to Condition 9, the full purchase price shall be due and payable to the Auctioneer in Australian currency within one hour of purchase or within such other period of time as the Auctioneer or Vendor may permit pursuant to Condition 9 below, time being of the essence, notwithstanding that delivery may not have been made.
6.5          The Auctioneer may in its absolute discretion reject payment otherwise than in cash or an unendorsed bank cheque.
6.6          The Purchaser shall pay the Auctioneer on demand all collection costs and expenses (including legal costs on a Solicitor & own client basis) incurred in recovering any payment from the Purchaser.
6.7          The Purchaser authorises the Auctioneer to disclose information relating to the Purchaser's creditworthiness or default in payment to a credit reporting agency if the Purchaser is in arrears in making payments relating to credit provided (1) sixty (60) days have elapsed since the day on which payment was due and payable by the Purchaser, and, (2) the Auctioneer has sent written notice to the last known address of the Purchaser advising the Purchaser of the overdue payment and requesting payment of the amount outstanding.
6.8          The Purchaser shall not, until the full purchase price is paid and all other obligations to the Vendor and the Auctioneer are fulfilled, register or attempt to register any security interest in the Lot.
6.9          If the person signing the Purchaser's Acknowledgement or bidding on behalf of the Purchaser is not the Purchaser (whether the person is a director, agent, attorney or otherwise), such person guarantees to the Vendor and to the Auctioneer the performance of the Purchaser under these terms and conditions, and indemnifies the Vendor and the Auctioneer for any loss and damage arising from any default or breach by the Purchaser.  This guarantee and indemnity may only be waived in writing by a director of the Auctioneer or by the acceptance by the Auctioneer of a duly completed Appointment of Agent form.

7.            GOODS AND SERVICES TAX (GST)
7.1          All lots are offered on a GST exclusive basis.
7.2          Goods and Services Tax ("GST") is payable on the auction price of thoroughbreds where the vendor is registered for GST.
7.3          The GST registration status of Vendors is noted on the catalogue page for each lot offered.
7.4          Where a Vendor is fully registered, GST of 10% will be added to the final bid price.
7.5          Where a Vendor is not registered no GST is added to the final bid price.
7.6          The Vendor and the purchaser undertake to do all things necessary to ensure that the provisions of the GST Act are met in relation to sales that do not, or claimed not to attract GST.
7.7          Magic Millions Sales Pty Limited accepts (and it is agreed by the vendor and purchaser) no liability for any GST liability arising as between the Purchaser and the Vendor and the ATO in respect of bloodstock sold through Magic Millions Sales Pty Limited either at auction or by private treaty.
7.8          Vendors who are not residents of Australia agree that they will offer their horse/s for sale on the basis that the sale/s will be made in Australia.
7.9          GST is payable on all services provided by or through Magic Millions Sales Pty Limited.

8.            GST & EXPORT
8.1          In accordance with a Private Ruling issued by the Australian Taxation Office on 25th March 2002 the Auctioneer is required to charge GST on all Lots sold (subject to Conditions 7.4 and 7.5).
8.2          The Purchaser must pay to the Auctioneer all GST invoiced.
8.3          The Vendor and the Purchaser acknowledge that it is their responsibility to acquaint themselves with and comply with the requirements of the GST Act at their cost
8.4          The Vendor acknowledges that the Auctioneer has no responsibility to pay the GST to the Vendor until such time as it is paid by the Purchaser.
8.5          If a Lot is purchased by a Non-Resident for the purpose of export the following conditions apply:
8.5.1.1   If a Purchaser, who is not registered or required to be registered for GST desires to export a Lot and signs and gives to the Auctioneer a properly completed and signed Magic Millions Export Declaration Form (such form being prescribed by and available upon request from the Auctioneer), then the Auctioneer will not add GST to the price of the Lot sold, except in the circumstances set forth in the Magic Millions Export Declaration Form where the Purchaser of the Lot acknowledges and accepts that GST is payable in respect of the Lot.
8.5.1.2   It is the responsibility of the Purchaser to ensure that the Lot is exported within sixty (60) days.
8.5.2      The Auctioneer will give the Vendor of a Lot referred to in Condition 8.5.1, a copy of the relevant Magic Millions Export Declaration Form within 7 days after it is executed by the Purchaser.
8.5.3      The Purchaser will comply with all obligations imposed upon the Purchaser in the Magic Millions Export Declaration Form
8.5.4      The Purchaser of a Lot referred to in Condition 8.5.1 must notify the Auctioneer and the Vendor in writing:
8.5.4.1   Within 7 days after the Lot has been exported from Australia that the export has taken place;
8.5.4.2   At least 4 weeks prior to the expiration of the period of time permitted or approved by the Australian Taxation Office for the export of the Lot from Australia as to whether or not the Lot has been exported and what is intended in relation to is exportation.
8.5.5      The Purchaser acknowledges that it is liable for GST of 10% of the purchase price of the Lot if it is not exported within the period allowed by the Australian Taxation Office to export the Lot. If GST is payable in respect of that Lot and is not paid within 30 days of the Purchaser receiving notification that payment is due, the Purchaser agrees that the amount of the GST is a liquidated debt and will consent to entry of judgement against it for the amount of the GST and it agrees that an Affidavit sworn by the Vendor or his solicitor shall be prima facie evidence of the amount of GST payable by the Purchaser.

9.            CREDIT ARRANGEMENTS
9.1          Any Purchaser requiring credit from the Auctioneer or Vendor must enter into a satisfactory credit or terms agreement with the Auctioneer or Vendor in writing prior to the Sale.  All such agreements entered into at any time prior to delivery of the Lot shall be made by the Auctioneer as principal and not as Agent of the Vendor and such agreements shall not form part of any Sale and purchase whether made by auction or private.
9.2          Purchasers are cautioned that approval of credit for prior Sales does not establish credit for Purchasers at this Sale.  To avoid misunderstandings clients must re-establish credit before bidding.
9.3          The Auctioneer shall not be obliged to acknowledge or accept any credit or terms agreement entered into between the Purchaser and the Vendor until the Auctioneer has received satisfactory written evidence of such credit or terms agreement signed by the Vendor.
9.4          With regard to the insurance of any Lot purchased by any Purchaser, such Purchaser will strictly comply with his obligations to insure the Lot as is set out in Condition 12.1.2 of these Conditions.
9.5          If a Purchaser requires credit from the Auctioneer or a Vendor, the Purchaser consents to the party asked to provide credit seeking and receiving information from a credit reporting agency with respect to the Purchaser, seeking information from any party to enable the party providing credit to assess the creditworthiness of the Purchaser and allowing the party providing credit to disclose the information obtained as to the Purchaser's creditworthiness to trade insurers and credit reporting agencies.  The Purchaser agrees to a credit reporting agencies and trade insurers providing to, and collecting from, the party asked to provide credit, information about the Purchaser’s creditworthiness.

10.          INTEREST
10.1        Without prejudice to the Purchaser's payment obligations pursuant to Condition 6, the Purchaser shall pay to the Auctioneer on demand interest at the rate of 1% per month, on;
10.1.1    the purchase price of any Lot or part thereof which remains unpaid as at the date of Sale, from the date of Sale to the date of payment;
10.1.2    all other monies payable by the Purchaser to the Auctioneer pursuant to these Conditions, from the date which the same become payable to the Auctioneer to the date of payment; and
10.1.3    all collection costs and expenses (including legal costs on a Solicitor & own client basis) incurred in recovering payment of any monies from the Purchaser from the date that the same are incurred to the date of payment by the Purchaser; such interest to be calculated monthly on daily rates and be capitalised monthly.

11.          DELIVERY
11.1        The Auctioneer shall not be obliged to deliver any Lot to the Purchaser until:
11.1.1    the Auctioneer shall have received from the Purchaser full payment of all monies payable by the Purchaser to the Auctioneer pursuant to these Conditions (including the purchase price for the Lot, unless the Auctioneer is satisfied that a prior credit or terms agreement in writing has been made with the Auctioneer or Vendor) or any other agreement, oral or written, entered into between the Auctioneer or Vendor and the Purchaser, and until all bills of exchange tendered in payment have been honoured;
11.1.2    the Purchaser shall have completed, signed and delivered to the Auctioneer a delivery slip in such form as shall be required by the Auctioneer;
11.1.3    the Purchaser shall have complied to the satisfaction of the Auctioneer, with all his other obligations under these Conditions of Sale, including without limitation, his obligations in respect of insurance of the Lot pursuant to Condition 12; and
11.1.4    where the Purchaser requires the Lot to be delivered to his Agent, the Auctioneer has received a written direction from the Purchaser directing the Auctioneer to deliver the Lot to such Agent providing that nothing in this condition shall oblige the Auctioneer to obtain such written authority from an Agent prior to delivering any Lot to such Agent.
11.2        The Purchaser shall remove his Lot from the Sale venue within twenty four (24) hours of the sale of the Lot.  The Purchaser shall ensure that the Auctioneer has firstly checked and confirmed the identity of the Lot prior to its removal.

12.          INSURANCE
12.1        Where the Auctioneer or the Vendor agrees to deliver any Lot to the Purchaser (subject at all times to Conditions 9 and 11 above):
12.1.1    Prior to the Auctioneer receiving from the Purchaser full purchase price for the Lot; or
12.1.2    further to Condition 9.4, where a credit or terms agreement is made between the Auctioneer and the Purchaser or the Vendor and the Purchaser whether before or after the Sale;
                the Purchaser shall effect and maintain at the Purchaser's cost and expense, mortality insurance (in an amount not less than the purchase price of the Lot) with a reputable insurance company approved by the Auctioneer or the Vendor as the case may be in respect of the Lot until such time as the Auctioneer and or the Vendor shall have received all monies payable in respect of the Lot or repayable by the Purchaser pursuant to any credit agreement entered into in respect of the purchase of the Lot and the Purchaser shall ensure that the policy of insurance bears an endorsement noting the Auctioneer's and the Vendor's (as the case may be) interest in the Lot and the Purchaser shall execute such documents as may in the opinion of the Auctioneer be necessary to transfer to the Auctioneer and/or the Vendor all the Purchaser's interest under such insurance absolutely. 
12.2        The Purchaser will immediately deliver to the Auctioneer or the Vendor (as the case may be) a certificate of currency confirming that the Purchaser has complied with his obligations to insure as set out in Condition 12.1.2.
12.3        The Auctioneer and the Promoter recommend that the Purchaser immediately effects and maintains for the life of the Lot insurance for any damage, injury or death caused by the Lot in an amount sufficient to protect the Purchaser for each claim as advised by the Purchaser's insurance adviser.

13.          PURCHASER OF MORE THAN ONE LOT
13.1        Where a Purchaser purchases more than one Lot at any one Auction, the Auctioneer may, in the absence of written directions from the Purchaser to the effect that a payment of the Purchase Price is to be a payment of the Purchase Price for a specific Lot, appropriate such payment as it elects to do so and may allocate the payment in relation to any particular Lot or Lots that it determines.
13.2        Where a Purchaser does not nominate payment for a specific Lot and the Auctioneer splits a payment made by a Purchaser across a number of Lots, such that each Lot is partly paid, the Purchaser accepts, acknowledges and agrees that title to any of those Lots will not pass to the Purchaser until such time as the full Purchase Price for all the Lots has been paid by the Purchaser.
13.3        In the circumstances envisaged by point 2 above, the Purchaser accepts, acknowledges and agrees that the Auctioneer is entitled to retain the Horse Identification Papers for all Lots until payment for all the Lots purchased at the one Auction have been paid for.

14.          TITLE TO LOTS
14.1        Notwithstanding any express or implied provisions hereof to the contrary and notwithstanding that delivery of any Lot may have been made or possession obtained, title in a Lot shall not pass to the Purchaser until all monies payable by the Purchaser to the Auctioneer and or the Vendor pursuant to these Conditions of Sale in respect of the Lot shall have been received by the Auctioneer and or the Vendor, and all bills of exchange tendered in payment of such monies have been honoured.
14.2        Where delivery of any Lot is made to the Purchaser prior to title in the Lot passing to the Purchaser pursuant to these Conditions of Sale, the Purchaser shall hold the Lot as bailee only and shall not deal with the Lot in any manner inconsistent with the reasonable directions which may be given from time to time by the Vendor and/or the Auctioneer.
14.3        Until title of the horse has passed to the Purchaser, the Purchaser shall not exercise or purport to exercise any rights of ownership or possession including, without limitation, registering or racing the horse.

15.          DEFAULT BY PURCHASER
15.1        In the event that the Purchaser breaches any of these Conditions and fails to remedy such breach within reasonable time after receiving written notice from the Vendor or Auctioneer requiring such breach to be remedied, or all monies payable by the Purchaser to the Auctioneer pursuant to these Conditions shall not have been paid and liquidated by the due date for payment thereof, or where the Auctioneer has, in its discretion, agreed to an extension of the date for payment (in which event time shall be of the essence in respect of such extended date) and the same shall not have been paid and liquidated by such extended date, the Auctioneer or the Vendor may at any time without prejudice to any other rights or remedies which the Auctioneer or Vendor may have at law or in equity and without notice to the Purchaser;
15.1.1    terminate the Sale of the Lot; and/or
15.1.2    immediately re-take possession of the Lot and for that purpose the Purchaser hereby irrevocably grants to the Auctioneer and/or Vendor full leave and license to enter into or upon any premises controlled by the Purchaser upon which the Lot may be or may reasonably be believed to be situated and to use any reasonable force as may be necessary for the purpose of repossessing the Lot, or as agent of the Purchaser to enter upon any other premises upon which the Lot may be or may reasonably be believed to be situated upon which the Purchaser may enter for the purpose of repossessing the Lot, without notice to the Purchaser and without liability to the Purchaser or any person claiming under the Purchaser; and/or
15.1.3    resell the Lot by auction or private Sale at the risk and expense of the Purchaser and
                (i) If upon re-Sale the Net Proceeds of Sale exceed that for which the Purchaser had agreed to buy the Lot (and any other fees and charges payable by the Purchaser in respect of the Lot), the Auctioneer or Vendor is entitled to keep that excess and the Purchaser shall make no claim to that excess, or;
                (ii) if upon such re-Sale a lower price is obtained than that for which the Purchaser had agreed to buy the Lot, the Auctioneer or Vendor may recover the difference from the Purchaser as a debt due on demand together with interest from the date of sale to the date of payment; and/or
15.1.4    exercise such other rights and remedies as the Vendor or Auctioneer may have against the Purchaser in respect of the Purchaser's default including, without limitation, recovering from the Purchaser all costs and expenses incurred in repossessing or attempting to repossess the Lot together with interest thereon and recovering from the Purchaser any expense of Sale, re-Sale, livery and agistment and Auctioneer commission so incurred; and/or
15.1.5    retain any deposit or part payment to the extent of twenty-five percent (25%) of the purchase price for the benefit of the Vendor;
15.1.6    sue the Purchaser for any damages or loss.
15.1.7    in addition to its rights pursuant to Conditions 6.7 and 9.5, in its absolute discretion and with the irrevocable consent of the Purchaser, refer the default and all details with respect thereto to, and request any credit information of, or/and details with respect to, the Purchaser, to any credit or commercial recovery agent of its choice, and, disseminate, disclose and use the information so obtained in its absolute discretion.

16.          RIGHTS AND LIABILITIES OF AUCTIONEER
16.1        The Auctioneer in selling any Lot at the Sale acts as agent for the Vendor whose name and address is disclosed in the Sales catalogue in respect of the Lot.  Further particulars of the Vendor of any Lot shall be furnished by the Auctioneer immediately upon request.  Except as otherwise expressly provided to the contrary, the Auctioneer has no liability or rights as principal in the capacity of a Vendor.
16.2        In the event of any dispute including without limitation, as to defects in title, misdescription, pedigree, condition or otherwise, the Purchaser and the Vendor shall settle the matter between themselves and the Purchaser shall have no rights against nor return any Lot to the Auctioneer which acts in respect of the Sale merely as agent for the disclosed Vendor.
16.3        Notwithstanding any representation or action by the Auctioneer which may indicate the contrary, the Auctioneer shall be under no liability to the Vendor in respect of the Purchaser's failure to complete his purchase in accordance with these Conditions of Sale.
16.4        If the Auctioneer accounts to the Vendor for the purchase price or the balance of the purchase price, then in addition to the other rights conferred on the Auctioneer by these terms and conditions, the Auctioneer is entitled to exercise in its own name or the name of the Vendor any of the Vendor's rights including the right to be paid the purchase price and to repossess the Lot or exercise any security interest of the Vendor, registered or otherwise. 
16.5        The description of all Lots has been provided by the Vendors and the Auctioneer shall not be liable or responsible for any error whatsoever in the description of any Lot including, without limitation, any error in relation to the eligibility of the Lot for inclusion in the Australian Stud Book, or the Lot's compliance with the requirements for inclusion, or continued inclusion.
16.6        The rights and remedies of the Auctioneer under these Conditions shall not be affected by reason of the selling commission and charges of the Auctioneer having been deducted by the Auctioneer from any payment made by the Auctioneer to the Vendor.  As between the Purchaser and the Auctioneer, the Purchaser waives all rights of set off, if any, the Purchaser may otherwise have had against the Vendor.
16.7        The Auctioneer or its servants may sign the Sale Book or any Memorandum of Sale on behalf of either the Vendor or the Purchaser or both.
16.8        The Auctioneer reserves all rights to use or publish details of bidding, the identity of the Vendor and the Purchaser and all matters related to the Sale of any Lot as it thinks fit.
16.9        If any sale is cancelled for any reason, the Auctioneer shall remain entitled to receive its commission on the sale, and to be paid or reimbursed for all money owing to it by either the Vendor or the Purchaser, for any charges, dues (including stabling and yard dues, fees and the like), interest and any other money owing to the Auctioneer.

17.          CONDITIONS AND WARRANTIES
17.1        Other than for any express conditions, warranties or representations included herein, or as may be implied by Federal or State legislation (including the Trade Practices Act 1974 [Cwth]) and which may be excluded by agreement;
17.1.1    all conditions, warranties and representations in respect of a Lot or a Sale are hereby excluded;
17.1.2    no condition, warranty or representation is given or implied or may be inferred from any affirmation made at or before the Sale or any of the circumstances of the Sale; and
17.1.3    the Purchaser acknowledges that, in making any purchase, he is relying solely on his own enquiries and inspection, and that he has not relied or been induced by any statement or representation made by the Vendor or the Auctioneer or the Promoter or by any person purporting to act on their behalf and, subject to these Conditions of Sale, the Purchaser shall take the Lot in its present condition and subject to all defects, faults, imperfections and the like, if any, whether latent or patent.
17.2        Where any Lot is described in the Sales catalogue or by the Auctioneer or Vendor to be a 'colt' the Purchaser shall not be entitled to make any objection and shall not have any claim against the Auctioneer or Vendor if such Lot is an animal in which one or both testes have not descended into the scrotum from the abdomen.
17.3        Whereby if a dispute arises between the Vendor and the Purchaser in relation to a Lot, this must be resolved between them only.  The Lot cannot be returned to the Auctioneer or it's stables. 
17.4        The Vendor acknowledges having read and understand the Conditions of Nomination of the Sale.
17.5        If a company, the Vendor warrants and represents to the Auctioneer and the Purchaser that there are no fixed charges affecting the Lot, that there are no floating charges affecting the Lot or such charges are not in default, and that the Vendor and no officer thereof is aware of any circumstances by which any floating charge in relation to the Vendor may have crystallised.  The Vendor warrants and represents that the Lot is being sold in the ordinary course of business.

18.          WINDSUCKERS, WOBBLERS AND IMPAIRED VISION
18.1        For the purposes of this Condition:
                "Windsucker" shall mean a Lot which suffers from the vice of noisily drawing in and swallowing air through its mouth;
                "Wobbler" shall mean a Lot which stands or moves unsteadily or with uncertain direction;
                "Impaired Vision" refers to impaired sight in one or both eyes.
18.2        Should any Lot be a Windsucker or Wobbler or to the knowledge of the Vendor have shown any symptoms of being so, the Vendor shall disclose such fact to the Auctioneer to enable the Auctioneer to disclose such fact to prospective bidders.  Any horse with impaired vision will not knowingly be offered for Sale.
18.3        In the event that:
18.3.1    any Lot proves within seven (7) days after the Sale to be a Windsucker or Wobbler or to have been sold with impaired vision;
18.3.2    the Purchaser produces to the Auctioneer or Vendor prior written certification obtained at the cost of the Purchaser that the Lot is a Windsucker or Wobbler or has impaired vision, as the case may be, signed by an independent veterinarian nominated by the Auctioneer; and
18.3.3    the Auctioneer or Vendor did not disclose at the Sale that the Lot was or showed symptoms of being a Windsucker or Wobbler, as the case may be; the Purchaser may terminate his purchase of the Lot by giving the Auctioneer written notice of termination within seven (7) days after the date of Sale provided that the Purchaser shall upon termination at his own cost and expense return the Lot to the address of the Vendor specified in the Sales catalogue.  The decision of the independent veterinarian nominated by the Auctioneer as to whether any Lot is a Windsucker or Wobbler or has impaired vision, shall be final and binding on all parties.
18.4        Where the Purchaser terminates his purchase and returns the Lot to the Vendor pursuant to Condition 18.3, or cancels the sale pursuant to Condition 19 below,  he shall be entitled to a refund from the Vendor of all purchase monies paid in respect of the Lot and upon receiving the same shall have no further claim against the Auctioneer or Vendor.

19.          ATTORNEY
19.1        The Vendor and the Purchaser for the purpose of enabling the Auctioneer to give full force and effect to these Conditions, each irrevocably appoint the Auctioneer his true and lawful attorney, with full power in his name or in the name of the Auctioneer to do all such things to take all such action, to sign and execute all such documents and to give such instructions for the purposes of these Conditions as may be necessary or in the Auctioneer's opinion desirable and hereby agrees to ratify and affirm anything done by the Auctioneer as such attorney.
19.2        Without limiting clause 19.1, the Auctioneer may exercise the power of attorney so granted for the purpose of removing, waiving, or otherwise discharging any security interest purportedly granted by the Purchaser and in particular (to the extent the Purchaser is capable of doing so) removing the registration of such an interest.

20.          GOVERNING LAW AND PRIVATE SALES
20.1        Neither the Vendor nor the Purchaser may institute court proceedings (including without limitation proceedings for interlocutory relief) in relation to any dispute arising out of or relating to this agreement in any court other than a court in the State of Queensland.  The Vendor and the Purchaser equivocally submit to the jurisdiction of the courts of the State of Queensland.
20.2        These Conditions shall, in so far as possible, apply to the private Sale by the Auctioneer of any Lot entered for the Sale.
20.3        If any provision of these Conditions is or becomes unenforceable or invalid, the remaining provisions shall not be affected by but shall remain in full force and effect to the fullest extent permitted by law.

21.          X-RAYS AND REPOSITORY
21.1        Definitions 
21.1.1    "Repository" means the repository to be established by the Auctioneer/Promoter at the Complex at least four days prior to the commencement of the Auction, the conditions of entry into which and use of the services of which are set out in the Repository Conditions displayed at the Repository, the terms of which the Purchaser acknowledges having read and understood prior to the purchase of a Lot;
21.1.2    "Repository Conditions" means the conditions of entry into the Repository for the purpose of inspecting the X-rays and other terms and conditions relating to the terms and conditions of access and inspection as displayed at the Repository;
21.1.3    "X-rays" means the set of X-rays deposited at the Repository, albeit physical or digital format, (along with any reports, certificates, notes, writings or information deposited therewith) made available by the Vendor with respect to a Lot for inspection by the Purchaser's qualified licensed veterinary expert, such X-rays being in the minimum number and taken strictly in accordance with the specifications detailed in the Repository Conditions and otherwise subject to the Repository Conditions displayed at the Repository, the terms of which the Purchaser acknowledges as having read and understood prior to the purchase of a Lot.
21.2        Vendor's Acknowledgments, Obligations and Warranties
21.2.1    The Vendor acknowledges that he has been encouraged by the Auctioneer/Promoter to provide X rays with respect to each Lot offered for sale by the Vendor;
21.2.2    The Vendor must deliver the X-rays to the Auctioneer/Promoter at the Repository no later than 4.00pm four (4) days prior to the first day of the Sale.  No X-rays will be accepted by the Auctioneer/Promoter subsequent to the stated dates and times;
21.2.3    The Vendor warrants that the X-rays provided to the Auctioneer/Promoter will be certified as originals by a qualified licensed veterinary expert and will meet all the requirements set out in the Repository Conditions;
21.2.4    The Vendor warrants that he has the right to use the X-rays and irrevocably authorises the Auctioneer/Promoter to release the X-rays for inspection by prospective purchaser's qualified licensed veterinary experts prior to and during the Sale as provided in the Repository Conditions;
21.2.5    Subject to the Auctioneer's/Promoter's/Vendor's right to refuse any person, including a prospective Purchaser from inspecting the X-rays, the X-rays provided by a Vendor will be available for inspection by a Purchaser's qualified licensed veterinary expert (in the absence of written instructions from the Vendor to the contrary) at the Repository subject to the Repository Conditions;
21.2.6    The Vendor releases the Auctioneer/Promoter from any liability in the event of damage, loss or theft of the x-rays while in the possession of the Auctioneer/Promoter;
21.2.7    The Vendor warrants the quality, accuracy, validity, authenticity and completeness of the X-rays and that they comply strictly with the minimum requirements set out in the Repository Conditions;
21.2.8    The Vendor acknowledges that the Promoter/Auctioneer do not warrant the accuracy of the data contained in the X-rays and that the Promoter/Auctioneer do not review or evaluate the X-rays, and the Vendor releases them from all claims, damages, liability, actions, damages and losses whatsoever arising from the inspection of the X-rays, any defect or inaccuracy in the X-rays, and, the purchase of any Lot where a purchase followed an inspection of the X-rays;
21.2.9    The Vendor acknowledges that, once the X-rays are deposited at the Repository, the Vendor must not remove the X-rays from the Repository, nor, deposit any material or information with the X-rays.
21.3        Purchaser's Acknowledgements, Obligations and Warranties
21.3.1    The Purchaser acknowledges that his qualified licensed veterinary expert (and any other person authorised in writing by the Vendor) must register at the Repository and otherwise strictly comply with the Repository Conditions prior to and during inspection of the X-rays;
21.3.2    The Purchaser acknowledges that it is his sole responsibility to determine the quality, accuracy and completeness of the X-rays and to obtain independent advice with respect thereto from a qualified licensed veterinary expert;
21.3.3    The Purchaser acknowledges that X-rays may not be removed from the Repository or copied or reproduced in any form without the prior written consent of the owner thereof;
21.3.4    The Purchaser acknowledges that any Vendor may, in his absolute discretion, determine not to provide X-rays for a Lot, and, accordingly the Purchaser will purchase such Lot with all defects, latent and patent, and otherwise subject to the Conditions of Sale;
21.3.5    The Purchaser acknowledges and accepts the acknowledgments, obligations and warranties referred to in Condition 21.2 above and if the Purchaser alleges a breach of the Vendor's warranties, then the Purchaser and the Vendor must resolve their respective rights and liabilities and the provisions of Condition 17.3 apply;
21.3.6    The Purchaser acknowledges that he should fully inspect each Lot and the X-rays, subject to these Conditions of Sale and the Repository Conditions, along with his qualified licensed veterinary expert, prior to purchasing or attempting to purchase a Lot, and, failure to inspect or seek the said advice will be at the Purchaser's sole risk;
21.3.7    The purchaser acknowledges that once the Lot has been sold, there will be no further access to the X-rays for any purpose whatsoever.
21.3.8    The Purchaser warrants that in inspecting the X-rays that he will at all times act in a bona fide manner.
21.4        Vendor's/Purchaser's Acknowledgments and Indemnities
21.4.1    The Vendor and the Purchaser acknowledge and accept that neither the Auctioneer nor the Promoter will review the X-rays and therefore makes no warranty or assurance of any kind concerning the authenticity, quality, accuracy or completeness of the X-rays, the responsibility for which lies with the Vendor;
21.4.2    The Vendor and the Purchaser acknowledge and accept that the depositing and inspection of the X-rays, and, the use of the Repository, will not vary or amend the terms of these Conditions of Sale which shall continue to be binding upon the Vendor and the Purchaser, nor does such deposit, inspection or use create any additional express or implied warranties upon which either the Vendor or the Purchaser can rely, other than those allowed by statute or law;
21.4.3    The Vendor and the Purchaser acknowledge and accept that neither the Auctioneer nor the Promoter will be liable for any claim, damages, liability, actions, demands or losses whatsoever in the event that the X-rays are of poor quality, inaccurate, invalid or incomplete;
21.4.4    The Vendor and the Purchaser acknowledge and accept that the sale and purchase of a Lot is effected on the fall of the hammer pursuant to Condition 2 of the Conditions of Sale and, subject to the Conditions of Sale, the Purchaser purchases each Lot with all faults and defects, latent and patent.  The Vendor acknowledges and accepts that the Auctioneer will be entitled to its commission immediately upon the effecting of the sale (subject to the Conditions of Sale) and the Vendor's obligation to pay the commission will stand notwithstanding any subsequent dispute between the Vendor and the Purchaser;
21.4.5    The Vendor and the Purchaser acknowledge that the Vendor has instructed the Auctioneer/Promoter to restrict access to the X-rays, in the absence of written instructions to the contrary, to qualified licensed veterinary experts.
21.4.6    The Vendor and the Purchaser acknowledge that the X-rays remain the legal property of the Veterinarian who took them.  Subject to Condition 21.5.3, permission must be obtained by the said Veterinarian prior to removing the X-rays from the Repository.
21.5        Auctioneer's/Promoter's Acknowledgment And Obligations
21.5.1    The Auctioneer/Promoter will, at their cost, provide and make available the Repository for use by the Vendor, the Purchaser and the Purchaser's qualified licensed veterinary expert in accordance with these Conditions of Sale and the Repository Conditions;
21.5.2    The Auctioneer/Promoter will make the Repository available to receive the X-rays from the Vendor, and, make available the X-rays for inspection, in the absence of written instructions from the Vendor to the contrary, by the Purchaser's qualified licensed veterinary expert subject to these Repository Conditions and the Standard Conditions of Sale;
21.5.3    Subject to the Auctioneer's/Promoter's right to retain possession of the X-rays for whatever reason and for so long as the Auctioneer/Promoter chooses, the Auctioneer/Promoter will allow the Vendor or his nominated agent in writing, to collect the X-rays from the Repository after the expiration of forty two (42) days from the last day of the Sale;
21.5.4    The Auctioneer/Promoter has requested each Vendor of a Lot to provide X-rays of each Lot in accordance with the Repository Conditions but will not be liable for any claim, damages, liability, actions, demands or losses whatsoever, from the Vendor, Purchaser or any person or party by virtue of the fact that a Vendor elects not to provide X-rays with respect to any Lot;
21.5.5    The Vendor will, in accordance with the Repository Conditions, be entitled to inspect (or have an agent authorised in writing to inspect) a register, kept for that purpose, of any party who has inspected the X-rays of a Lot submitted by that Vendor.
22.          NO REPRESENTATION AS TO SUITABILITY FOR TRAINING OR RACING OF A LOT
The Purchaser acknowledges that the Vendor/Auctioneer/Promoter does not warrant or represent the physical condition of any Lot, or, that any Lot is suitable for being trained as a race horse, or, capable of being trained as a race horse, or, suitable or capable of competing in races or any other activities involving thoroughbred race horses, or for any purpose whatsoever.

23.          AGENCY
The Auctioneer/Promoter act as agents for Magic Millions Partnership (ABN 99 519 379 694).

24.          CONDITIONS OF NOMINATION AND REPOSITORY CONDITIONS
The Vendor acknowledges having read the Conditions of Nomination and the Repository Conditions and accepts them.  The Purchaser acknowledges having read the Repository Conditions and accepts them.  Further, the Vendor and the Purchaser will abide and be bound by all reasonable practices and business methods employed by the Auctioneer/Promoter in the conduct of their business and the Sale, and, acknowledge that these Conditions may be changed or amended from time to time in the absolute discretion of the Auctioneer/Promoter.  The Purchaser acknowledges that the Vendor has instructed the Auctioneer/Promoter, in the absence of written instructions to the contrary, to restrict access to the X-rays to qualified licensed veterinary experts, and, further acknowledge that it is the responsibility of the Purchaser to obtain written authority from the Vendor if the purchaser requires a person other than a qualified licensed veterinary expert to examine the X-rays.

25.          OCCUPATIONAL HEALTH AND SAFETY
25.1        To the extent that a vendor or purchaser or their employees or agents may conduct any activities on the auctioneer's premises then that vendor or purchaser shall be responsible, to the exclusion of the auctioneer, for establishing and observing appropriate occupational health and safety procedures, and for complying with any relevant legislation provisions, in relation to those activities.
25.2        A vendor or purchaser conducting any activities on the auctioneer's premises does so at his own risk in all respects and must indemnify the auctioneer in respect of any claims for personal injury or damage to property which may be made against the auctioneer arising out of any such activities.

26.          VENDOR'S ADDITIONAL WARRANTIES: LOT DESCRIPTION, TITLE AND POSSESSION
The Vendor warrants that:
26.1        The description, pedigree and other information in respect of the Lot is as specified in the Sale Catalogue; and
26.2        The Vendor has the right to sell the Lot and can give good title to the Lot; and
26.3        The Purchaser will obtain quiet possession on completion of the Purchaser's obligations under these Conditions.

IMPORTANT DISCLAIMERS
For the information of Purchasers, the Auctioneer and the Promoter have provided certain information on the horses catalogued for Sale.  Any information is obviously subject to constant change and revision and the Auctioneer and the Promoter, their subsidiaries, officers and agents for themselves and for those for whom they act, provide all such information without responsibility and give no guarantee nor make any representations whatsoever as to its accuracy.

Not withstanding Condition 26, all persons who attend the Sale do so entirely at their own risk and neither Magic Millions Sales Pty Limited (ABN 54 078 396 317) nor Magic Millions Promotions Pty Limited (ABN 41 088 197 200) nor their subsidiaries, officers or agents for themselves and for those whom they act, assume or accept any responsibility or liability of whatever nature for any injury or damage whatsoever which may occur to any person or property.

MAGIC MILLIONS 2010 NATIONAL BROODMARE SALE

IMPORTANT: PLEASE READ
All bids and offers to purchase shall be treated as offers made upon the following Conditions of Sale and all persons attending the Sale or bidding at the Sale shall be deemed to have notice of such Conditions of Sale.

1.            INTERPRETATION
1.1          In these Conditions:
                'Auctioneer' means Magic Millions Sales Pty Limited (ABN 54 078 396 317) and having Auctionneer's and Agent's Licence No. 2005419 and includes its officers and agents; 'Purchaser' means the person or corporation to whom any Lot is sold as referred to in Condition 2; 'Vendor' means the person or corporation on whose behalf any Lot is sold by the Auctioneer and where more than one shall mean each severally and any two or more jointly; 'Promoter' means Magic Millions Promotions Pty Limited (ABN 41 088 197 200) or any other party, identified in the Sale catalogue or other documentation issued in respect of the Sale as the promoter or sponsor of the Sale or of a closed race series or incentive race series in association with which the Sale is conducted; 'Series Race' means the closed race series or incentive race series (if any) identified in the Sale catalogue or other documentation issued in respect of the Sale; 'Lot' or 'horse' includes gelding, colt and filly.  The expression 'colt' includes rig or crypt orchid, namely male animals in which one or both testes have not descended into the scrotum from the abdomen.
1.2          Where the Purchaser of any Lot comprises more than one person or corporation these Conditions shall bind each such person or corporation severally and any two or more of such persons or corporations jointly.
1.3          A bidder is taken to be a principal unless, before bidding, the bidder has given to the Auctioneer a copy of a written authority from a third party principal to bid for or on behalf of that third party principal.

2.            CONDUCT OF SALE
2.1          The Vendor shall have the right to bid personally or through an agent.
2.2          All bidders must have registered their names and addresses with the Auctioneer prior to the commencement of the sale.
2.3          The highest bidder shall be the Purchaser, subject to any Reserve Price.  Should any dispute arise concerning bidding, the Lot shall be immediately put up for Sale at the last undisputed bid or the dispute may be determined by the Auctioneer, whose decision shall be final and binding.
2.4          The Auctioneer shall have the right, in its absolute discretion to;
2.4.1      determine who is the Purchaser;
2.4.2      settle any dispute in such manner as it thinks fit;
2.4.3      withdraw any Lot before or during the Sale;       
2.4.4      advance the bidding as it thinks fit;
2.4.5      exclude any person from the Sale venue; or
2.4.6      refuse to acknowledge any bid without giving any reason therefore, and the Auctioneer's decision shall be final and binding upon all persons;
2.4.7      determine an upset price on each Lot entering the ring.  If an opening bid of the appropriate figure is not forthcoming to the Auctioneer's call within thirty (30) seconds, a Lot may be passed out of the ring.  The Vendor shall be entitled to instruct the Auctioneer to re-offer that Lot on completion of the Auction and the horse shall be re-offered without reserve;
2.4.8      bid as an Agent on behalf of a principal.
2.5          Subject to any Reserve Price, all Lots are sold at the final bid accepted by the Auctioneer in Australian currency dollars.  (Any other bids or currencies displayed on the Indicator Board are displayed as a guide only.)
2.6          As soon as practical after the fall of the hammer the Purchaser will sign an agreement (if any), for sale/acknowledgement of purchase form in a form requested by the Selling Agent.
2.7          Any Auctioneer's announcements on the day of the sale which are announcements from the Auctioneer's stand will take precedence over:
2.7.1      these Conditions;
2.7.2      any statements in the Sale Catalogue; or
2.7.3      any other written or oral statement, particular or representation previously published or made.
2.8          Any further or different conditions relating to any sale or any Lot or any Purchaser must be recorded in writing and signed prior to the Auction by or on behalf of the Vendor, the Purchaser and the Auctioneer, and ,if not so recorded, shall be of no effect.

3.            RESERVED SALE
3.1          Where the Sale is conducted as a Reserved Sale, the following provisions will apply.
3.2          Reserve cards will be mandatory.  The Vendor must advise the Auctioneer in writing of the reserve price for each Lot before the Lot is offered for Sale. Where no reserve card is provided the Vendor or his representative must attend in the Auctioneer's rostrum to advise the Auctioneer and will be required to sign a reserve card before leaving the rostrum if the Lot is passed in.  Should there be no reserve card, no Vendor or Vendor's representative in the Auctioneer's rostrum at the time that the Lot is offered for Sale, then the Lot shall be sold to the highest bidder and the Vendor shall pay the full commission and any other amounts payable.
3.3          The last bidder shall have the option to buy at the reserve price of a passed in Lot.  This option must be exercised prior to the Lot leaving the Sale ring.  The Auctioneer shall be entitled to commission on any Lot so sold, as if it were sold under the hammer.

4.            RISK AND EXPENSE
4.1          Upon the fall of the hammer each Lot shall be at the risk and expense in all respects of the Purchaser and the Purchaser shall indemnify the Auctioneer in respect of and pay to the Auctioneer on demand all loss, damage, costs and expenses incurred or suffered by the Auctioneer in respect of the Lot while the Lot is at the Purchaser's risk and expense.  In particular, the Purchaser will be liable for livery, agistment and transport charges for Lots not removed on the day of the Sale and they may be moved to alternate stables or agistment at the Auctioneer's discretion.  Payment for Lots shall not be regarded as made until such charges have been paid.
4.2          Prior to the fall of the hammer each  Lot shall be at the risk and expense in all respects of the Vendor, and the Vendor shall indemnify the Auctioneer in respect of and pay to the Auctioneer on demand all loss, damage, costs and expenses incurred or suffered by the Auctioneer in respect of the Lot while the Lot is at the Vendor's risk and expense.
4.3          Notwithstanding any other provisions hereof, the Auctioneer shall not be liable for any damage, loss or injury occurring to any Lot or to any person or property caused by any Lot, whether caused by disease, accident, the negligence of the Auctioneer or otherwise and whether the Lot shall be in the custody, control or possession of the Auctioneer or otherwise.
4.4          The Auctioneer may upon receipt of written instructions so to do or where the Auctioneer in its absolute discretion considers it desirable to do so, make arrangements on the Purchaser's or Vendor's behalf for the stabling, feeding, transportation or general attendance to Lots while at the Sales venue provided that the Auctioneer accepts no responsibility for any act or omission whether negligent or otherwise in respect of the stabling, feeding, transportation or general attendance of any Lot.
4.5          Any Lot not sold or in respect of which any Sale is subsequently terminated shall remain at or revert to the risk and expense in all respects of the Vendor who shall arrange for the removal of the Lot immediately following the Sale.

5.            INSPECTION AND EXAMINATION
5.1          All Lots may be inspected at reasonable times prior to Sale.  Prior to Sale, a prospective Purchaser may arrange for a veterinary examination of a Lot with the Vendor.  Such examination shall be carried out in the privacy of a stable and may not be carried out in the Sale ring or within the public view.  The cost of this examination shall be paid for by the prospective Purchaser, solely to whom the veterinarian should make his report.  The Auctioneer or Vendor may refuse examination.
5.2          The Purchaser assumes all consequences and risk arising from failure to carry out an inspection or to seek an inspection or to seek an examination of a Lot.

6.            PURCHASE AND PAYMENT
6.1          On the fall of the hammer the Purchaser shall give his name and address and the name and address of the principal for whom he bids (if applicable) to the Auctioneer and shall immediately complete, sign and hand to the Auctioneer an acknowledgement of his purchase in such form as shall be required  by the Auctioneer and provide to the Auctioneer any such other information in respect of the purchase as the Auctioneer may reasonably require.
6.2          If the Purchaser fails to comply with the requirements of Condition 6.1, then the Auctioneer may elect to declare the Purchaser in default and cancel the sale and re-sell the Lot.  If, on resale of the Lot, a lower price is obtained, then the difference in price plus any expenses of the resale shall be a debt owing by the Purchaser to the Vendor payable on demand, with interest at the rate of 1.25% per month from the date of resale until payment.
6.3          Horses are sold with all engagements, if any.
6.4          Subject to Condition 9, the full purchase price shall be due and payable to the Auctioneer in Australian currency within one hour of purchase or within such other period of time as the Auctioneer or Vendor may permit pursuant to Condition 9 below, time being of the essence, notwithstanding that delivery may not have been made.
6.5          The Auctioneer may in its absolute discretion reject payment otherwise than in cash or an unendorsed bank cheque.
6.6          The Purchaser shall pay the Auctioneer on demand all collection costs and expenses (including legal costs on a Solicitor & own client basis) incurred in recovering any payment from the Purchaser.
6.7          The Purchaser authorises the Auctioneer to disclose information relating to the Purchaser's creditworthiness or default in payment to a credit reporting agency if the Purchaser is in arrears in making payments relating to credit provided (1) sixty (60) days have elapsed since the day on which payment was due and payable by the Purchaser, and, (2) the Auctioneer has sent written notice to the last known address of the Purchaser advising the Purchaser of the overdue payment and requesting payment of the amount outstanding.
6.8          The Purchaser shall not, until the full purchase price is paid and all other obligations to the Vendor and the Auctioneer are fulfilled, register or attempt to register any security interest in the Lot.
6.9          If the person signing the Purchaser's Acknowledgement or bidding on behalf of the Purchaser is not the Purchaser (whether the person is a director, agent, attorney or otherwise), such person guarantees to the Vendor and to the Auctioneer the performance of the Purchaser under these terms and conditions, and indemnifies the Vendor and the Auctioneer for any loss and damage arising from any default or breach by the Purchaser.  This guarantee and indemnity may only be waived in writing by a director of the Auctioneer or by the acceptance by the Auctioneer of a duly completed Appointment of Agent form.

7.            GOODS AND SERVICES TAX (GST)
7.1          All lots are offered on a GST exclusive basis.
7.2          Goods and Services Tax ("GST") is payable on the auction price of thoroughbreds where the vendor is registered for GST.
7.3          The GST registration status of Vendors is noted on the catalogue page for each lot offered.
7.4          Where a Vendor is fully registered, GST of 10% will be added to the final bid price.
7.5          Where a Vendor is not registered no GST is added to the final bid price.
7.6          The Vendor and the purchaser undertake to do all things necessary to ensure that the provisions of the GST Act are met in relation to sales that do not, or claimed not to attract GST.
7.7          Magic Millions Sales Pty Limited accepts (and it is agreed by the vendor and purchaser) no liability for any GST liability arising as between the Purchaser and the Vendor and the ATO in respect of bloodstock sold through Magic Millions Sales Pty Limited either at auction or by private treaty.
7.8          Vendors who are not residents of Australia agree that they will offer their horse/s for sale on the basis that the sale/s will be made in Australia.
7.9          GST is payable on all services provided by or through Magic Millions Sales Pty Limited.

8.            GST & EXPORT
8.1          In accordance with a Private Ruling issued by the Australian Taxation Office on 25th March 2002 the Auctioneer is required to charge GST on all Lots sold (subject to Conditions 7.4 and 7.5).
8.2          The Purchaser must pay to the Auctioneer all GST invoiced.
8.3          The Vendor and the Purchaser acknowledge that it is their responsibility to acquaint themselves with and comply with the requirements of the GST Act at their cost
8.4          The Vendor acknowledges that the Auctioneer has no responsibility to pay the GST to the Vendor until such time as it is paid by the Purchaser.
8.5          If a Lot is purchased by a Non-Resident for the purpose of export the following conditions apply:
8.5.1.1   If a Purchaser, who is not registered or required to be registered for GST desires to export a Lot and signs and gives to the Auctioneer a properly completed and signed Magic Millions Export Declaration Form (such form being prescribed by and available upon request from the Auctioneer), then the Auctioneer will not add GST to the price of the Lot sold, except in the circumstances set forth in the Magic Millions Export Declaration Form where the Purchaser of the Lot acknowledges and accepts that GST is payable in respect of the Lot.
8.5.1.2   It is the responsibility of the Purchaser to ensure that the Lot is exported within sixty (60) days.
8.5.2      The Auctioneer will give the Vendor of a Lot referred to in Condition 8.5.1, a copy of the relevant Magic Millions Export Declaration Form within 7 days after it is executed by the Purchaser.
8.5.3      The Purchaser will comply with all obligations imposed upon the Purchaser in the Magic Millions Export Declaration Form
8.5.4      The Purchaser of a Lot referred to in Condition 8.5.1 must notify the Auctioneer and the Vendor in writing:
8.5.4.1   Within 7 days after the Lot has been exported from Australia that the export has taken place;
8.5.4.2   At least 4 weeks prior to the expiration of the period of time permitted or approved by the Australian Taxation Office for the export of the Lot from Australia as to whether or not the Lot has been exported and what is intended in relation to is exportation.
8.5.5      The Purchaser acknowledges that it is liable for GST of 10% of the purchase price of the Lot if it is not exported within the period allowed by the Australian Taxation Office to export the Lot. If GST is payable in respect of that Lot and is not paid within 30 days of the Purchaser receiving notification that payment is due, the Purchaser agrees that the amount of the GST is a liquidated debt and will consent to entry of judgement against it for the amount of the GST and it agrees that an Affidavit sworn by the Vendor or his solicitor shall be prima facie evidence of the amount of GST payable by the Purchaser.

9.            CREDIT ARRANGEMENTS
9.1          Any Purchaser requiring credit from the Auctioneer or Vendor must enter into a satisfactory credit or terms agreement with the Auctioneer or Vendor in writing prior to the Sale.  All such agreements entered into at any time prior to delivery of the Lot shall be made by the Auctioneer as principal and not as Agent of the Vendor and such agreements shall not form part of any Sale and purchase whether made by auction or private.
9.2          Purchasers are cautioned that approval of credit for prior Sales does not establish credit for Purchasers at this Sale.  To avoid misunderstandings clients must re-establish credit before bidding.
9.3          The Auctioneer shall not be obliged to acknowledge or accept any credit or terms agreement entered into between the Purchaser and the Vendor until the Auctioneer has received satisfactory written evidence of such credit or terms agreement signed by the Vendor.
9.4          With regard to the insurance of any Lot purchased by any Purchaser, such Purchaser will strictly comply with his obligations to insure the Lot as is set out in Condition 12.1.2 of these Conditions.
9.5          If a Purchaser requires credit from the Auctioneer or a Vendor, the Purchaser consents to the party asked to provide credit seeking and receiving information from a credit reporting agency with respect to the Purchaser, seeking information from any party to enable the party providing credit to assess the creditworthiness of the Purchaser and allowing the party providing credit to disclose the information obtained as to the Purchaser's creditworthiness to trade insurers and credit reporting agencies.  The Purchaser agrees to a credit reporting agencies and trade insurers providing to, and collecting from, the party asked to provide credit, information about the Purchaser’s creditworthiness.

10.          INTEREST
10.1        Without prejudice to the Purchaser's payment obligations pursuant to Condition 6, the Purchaser shall pay to the Auctioneer on demand interest at the rate of 1.25% per month, on;
10.1.1    the purchase price of any Lot or part thereof which remains unpaid as at the date of Sale, from the date of Sale to the date of payment;
10.1.2    all other monies payable by the Purchaser to the Auctioneer pursuant to these Conditions, from the date which the same become payable to the Auctioneer to the date of payment; and
10.1.3    all collection costs and expenses (including legal costs on a Solicitor & own client basis) incurred in recovering payment of any monies from the Purchaser from the date that the same are incurred to the date of payment by the Purchaser; such interest to be calculated monthly on daily rates and be capitalised monthly.

11.          DELIVERY
11.1        The Auctioneer shall not be obliged to deliver any Lot to the Purchaser until:
11.1.1    the Auctioneer shall have received from the Purchaser full payment of all monies payable by the Purchaser to the Auctioneer pursuant to these Conditions (including the purchase price for the Lot, unless the Auctioneer is satisfied that a prior credit or terms agreement in writing has been made with the Auctioneer or Vendor) or any other agreement, oral or written, entered into between the Auctioneer or Vendor and the Purchaser, and until all bills of exchange tendered in payment have been honoured;
11.1.2    the Purchaser shall have completed, signed and delivered to the Auctioneer a delivery slip in such form as shall be required by the Auctioneer;
11.1.3    the Purchaser shall have complied to the satisfaction of the Auctioneer, with all his other obligations under these Conditions of Sale, including without limitation, his obligations in respect of insurance of the Lot pursuant to Condition 12; and
11.1.4    where the Purchaser requires the Lot to be delivered to his Agent, the Auctioneer has received a written direction from the Purchaser directing the Auctioneer to deliver the Lot to such Agent providing that nothing in this condition shall oblige the Auctioneer to obtain such written authority from an Agent prior to delivering any Lot to such Agent.
11.2        The Purchaser shall remove his Lot from the Sale venue within twenty four (24) hours of the sale of the Lot.  The Purchaser shall ensure that the Auctioneer has firstly checked and confirmed the identity of the Lot prior to its removal.

12.          INSURANCE
12.1        Where the Auctioneer or the Vendor agrees to deliver any Lot to the Purchaser (subject at all times to Conditions 9 and 11 above):
12.1.1    Prior to the Auctioneer receiving from the Purchaser full purchase price for the Lot; or
12.1.2    further to Condition 9.4, where a credit or terms agreement is made between the Auctioneer and the Purchaser or the Vendor and the Purchaser whether before or after the Sale;
                the Purchaser shall effect and maintain at the Purchaser's cost and expense, mortality insurance (in an amount not less than the purchase price of the Lot) with a reputable insurance company approved by the Auctioneer or the Vendor as the case may be in respect of the Lot until such time as the Auctioneer and or the Vendor shall have received all monies payable in respect of the Lot or repayable by the Purchaser pursuant to any credit agreement entered into in respect of the purchase of the Lot and the Purchaser shall ensure that the policy of insurance bears an endorsement noting the Auctioneer's and the Vendor's (as the case may be) interest in the Lot and the Purchaser shall execute such documents as may in the opinion of the Auctioneer be necessary to transfer to the Auctioneer and/or the Vendor all the Purchaser's interest under such insurance absolutely. 
12.2        The Purchaser will immediately deliver to the Auctioneer or the Vendor (as the case may be) a certificate of currency confirming that the Purchaser has complied with his obligations to insure as set out in Condition 12.1.2.
12.3        The Auctioneer and the Promoter recommend that the Purchaser immediately effects and maintains for the life of the Lot insurance for any damage, injury or death caused by the Lot in an amount sufficient to protect the Purchaser for each claim as advised by the Purchaser's insurance adviser.

13.          PURCHASER OF MORE THAN ONE LOT
13.1        Where a Purchaser purchases more than one Lot at any one Auction, the Auctioneer may, in the absence of written directions from the Purchaser to the effect that a payment of the Purchase Price is to be a payment of the Purchase Price for a specific Lot, appropriate such payment as it elects to do so and may allocate the payment in relation to any particular Lot or Lots that it determines.
13.2        Where a Purchaser does not nominate payment for a specific Lot and the Auctioneer splits a payment made by a Purchaser across a number of Lots, such that each Lot is partly paid, the Purchaser accepts, acknowledges and agrees that title to any of those Lots will not pass to the Purchaser until such time as the full Purchase Price for all the Lots has been paid by the Purchaser.
13.3        In the circumstances envisaged by point 2 above, the Purchaser accepts, acknowledges and agrees that the Auctioneer is entitled to retain the Horse Identification Papers for all Lots until payment for all the Lots purchased at the one Auction have been paid for.

14.          TITLE TO LOTS
14.1        Notwithstanding any express or implied provisions hereof to the contrary and notwithstanding that delivery of any Lot may have been made or possession obtained, title in a Lot shall not pass to the Purchaser until all monies payable by the Purchaser to the Auctioneer and or the Vendor pursuant to these Conditions of Sale in respect of the Lot shall have been received by the Auctioneer and or the Vendor, and all bills of exchange tendered in payment of such monies have been honoured.
14.2        Where delivery of any Lot is made to the Purchaser prior to title in the Lot passing to the Purchaser pursuant to these Conditions of Sale, the Purchaser shall hold the Lot as bailee only and shall not deal with the Lot in any manner inconsistent with the reasonable directions which may be given from time to time by the Vendor and/or the Auctioneer.
14.3        Until title of the horse has passed to the Purchaser, the Purchaser shall not exercise or purport to exercise any rights of ownership or possession including, without limitation, registering or racing the horse.

15.          DEFAULT BY PURCHASER
15.1        In the event that the Purchaser breaches any of these Conditions and fails to remedy such breach within reasonable time after receiving written notice from the Vendor or Auctioneer requiring such breach to be remedied, or all monies payable by the Purchaser to the Auctioneer pursuant to these Conditions shall not have been paid and liquidated by the due date for payment thereof, or where the Auctioneer has, in its discretion, agreed to an extension of the date for payment (in which event time shall be of the essence in respect of such extended date) and the same shall not have been paid and liquidated by such extended date, the Auctioneer or the Vendor may at any time without prejudice to any other rights or remedies which the Auctioneer or Vendor may have at law or in equity and without notice to the Purchaser;
15.1.1    terminate the Sale of the Lot; and/or
15.1.2    immediately re-take possession of the Lot and for that purpose the Purchaser hereby irrevocably grants to the Auctioneer and/or Vendor full leave and license to enter into or upon any premises controlled by the Purchaser upon which the Lot may be or may reasonably be believed to be situated and to use any reasonable force as may be necessary for the purpose of repossessing the Lot, or as agent of the Purchaser to enter upon any other premises upon which the Lot may be or may reasonably be believed to be situated upon which the Purchaser may enter for the purpose of repossessing the Lot, without notice to the Purchaser and without liability to the Purchaser or any person claiming under the Purchaser; and/or
15.1.3    resell the Lot by auction or private Sale at the risk and expense of the Purchaser and
                (i) If upon re-Sale the Net Proceeds of Sale exceed that for which the Purchaser had agreed to buy the Lot (and any other fees and charges payable by the Purchaser in respect of the Lot), the Auctioneer or Vendor is entitled to keep that excess and the Purchaser shall make no claim to that excess, or;
                (ii) if upon such re-Sale a lower price is obtained than that for which the Purchaser had agreed to buy the Lot, the Auctioneer or Vendor may recover the difference from the Purchaser as a debt due on demand together with interest from the date of sale to the date of payment; and/or
15.1.4    exercise such other rights and remedies as the Vendor or Auctioneer may have against the Purchaser in respect of the Purchaser's default including, without limitation, recovering from the Purchaser all costs and expenses incurred in repossessing or attempting to repossess the Lot together with interest thereon and recovering from the Purchaser any expense of Sale, re-Sale, livery and agistment and Auctioneer commission so incurred; and/or
15.1.5    retain any deposit or part payment to the extent of twenty-five percent (25%) of the purchase price for the benefit of the Vendor;
15.1.6    sue the Purchaser for any damages or loss.
15.1.7    in addition to its rights pursuant to Conditions 6.7 and 9.5, in its absolute discretion and with the irrevocable consent of the Purchaser, refer the default and all details with respect thereto to, and request any credit information of, or/and details with respect to, the Purchaser, to any credit or commercial recovery agent of its choice, and, disseminate, disclose and use the information so obtained in its absolute discretion.
16.          RIGHTS AND LIABILITIES OF AUCTIONEER
16.1        The Auctioneer in selling any Lot at the Sale acts as agent for the Vendor whose name and address is disclosed in the Sales catalogue in respect of the Lot.  Further particulars of the Vendor of any Lot shall be furnished by the Auctioneer immediately upon request.  Except as otherwise expressly provided to the contrary, the Auctioneer has no liability or rights as principal in the capacity of a Vendor.
16.2        In the event of any dispute including without limitation, as to defects in title, misdescription, pedigree, condition or otherwise, the Purchaser and the Vendor shall settle the matter between themselves and the Purchaser shall have no rights against nor return any Lot to the Auctioneer which acts in respect of the Sale merely as agent for the disclosed Vendor.
16.3        Notwithstanding any representation or action by the Auctioneer which may indicate the contrary, the Auctioneer shall be under no liability to the Vendor in respect of the Purchaser's failure to complete his purchase in accordance with these Conditions of Sale.
16.4        If the Auctioneer accounts to the Vendor for the purchase price or the balance of the purchase price, then in addition to the other rights conferred on the Auctioneer by these terms and conditions, the Auctioneer is entitled to exercise in its own name or the name of the Vendor any of the Vendor's rights including the right to be paid the purchase price and to repossess the Lot or exercise any security interest of the Vendor, registered or otherwise. 
16.5        The description of all Lots has been provided by the Vendors and the Auctioneer shall not be liable or responsible for any error whatsoever in the description of any Lot including, without limitation, any error in relation to the eligibility of the Lot for inclusion in the Australian Stud Book, or the Lot's compliance with the requirements for inclusion, or continued inclusion.
16.6        The rights and remedies of the Auctioneer under these Conditions shall not be affected by reason of the selling commission and charges of the Auctioneer having been deducted by the Auctioneer from any payment made by the Auctioneer to the Vendor.  As between the Purchaser and the Auctioneer, the Purchaser waives all rights of set off, if any, the Purchaser may otherwise have had against the Vendor.
16.7        The Auctioneer or its servants may sign the Sale Book or any Memorandum of Sale on behalf of either the Vendor or the Purchaser or both.
16.8        The Auctioneer reserves all rights to use or publish details of bidding, the identity of the Vendor and the Purchaser and all matters related to the Sale of any Lot as it thinks fit.
16.9        If any sale is cancelled for any reason, the Auctioneer shall remain entitled to receive its commission on the sale, and to be paid or reimbursed for all money owing to it by either the Vendor or the Purchaser, for any charges, dues (including stabling and yard dues, fees and the like), interest and any other money owing to the Auctioneer.

17.          CONDITIONS AND WARRANTIES
17.1        Other than for any express conditions, warranties or representations included herein, or as may be implied by Federal or State legislation (including the Trade Practices Act 1974 [Cwth]) and which may be excluded by agreement;
17.1.1    all conditions, warranties and representations in respect of a Lot or a Sale are hereby excluded;
17.1.2    no condition, warranty or representation is given or implied or may be inferred from any affirmation made at or before the Sale or any of the circumstances of the Sale; and
17.1.3    the Purchaser acknowledges that, in making any purchase, he is relying solely on his own enquiries and inspection, and that he has not relied or been induced by any statement or representation made by the Vendor or the Auctioneer or the Promoter or by any person purporting to act on their behalf and, subject to these Conditions of Sale, the Purchaser shall take the Lot in its present condition and subject to all defects, faults, imperfections and the like, if any, whether latent or patent.
17.2        Where any Lot is described in the Sales catalogue or by the Auctioneer or Vendor to be a 'colt' the Purchaser shall not be entitled to make any objection and shall not have any claim against the Auctioneer or Vendor if such Lot is an animal in which one or both testes have not descended into the scrotum from the abdomen.
17.3        Whereby if a dispute arises between the Vendor and the Purchaser in relation to a Lot, this must be resolved between them only.  The Lot cannot be returned to the Auctioneer or it's stables. 
17.4        The Vendor acknowledges having read and understand the Conditions of Nomination of the Sale.
17.5        If a company, the Vendor warrants and represents to the Auctioneer and the Purchaser that there are no fixed charges affecting the Lot, that there are no floating charges affecting the Lot or such charges are not in default, and that the Vendor and no officer thereof is aware of any circumstances by which any floating charge in relation to the Vendor may have crystallised.  The Vendor warrants and represents that the Lot is being sold in the ordinary course of business.

18.          WINDSUCKERS, WOBBLERS AND IMPAIRED VISION
18.1        For the purposes of this Condition:
                "Windsucker" shall mean a Lot which suffers from the vice of noisily drawing in and swallowing air through its mouth;
                "Wobbler" shall mean a Lot which stands or moves unsteadily or with uncertain direction;
                "Impaired Vision" refers to impaired sight in one or both eyes.
18.2        Should any Lot be a Windsucker or Wobbler or to the knowledge of the Vendor have shown any symptoms of being so, the Vendor shall disclose such fact to the Auctioneer to enable the Auctioneer to disclose such fact to prospective bidders.  Any horse with impaired vision will not knowingly be offered for Sale.
18.3        In the event that:
18.3.1    any Lot proves within seven (7) days after the Sale to be a Windsucker or Wobbler or to have been sold with impaired vision;
18.3.2    the Purchaser produces to the Auctioneer or Vendor prior written certification obtained at the cost of the Purchaser that the Lot is a Windsucker or Wobbler or has impaired vision, as the case may be, signed by an independent veterinarian nominated by the Auctioneer; and
18.3.3    the Auctioneer or Vendor did not disclose at the Sale that the Lot was or showed symptoms of being a Windsucker or Wobbler, as the case may be; the Purchaser may terminate his purchase of the Lot by giving the Auctioneer written notice of termination within seven (7) days after the date of Sale provided that the Purchaser shall upon termination at his own cost and expense return the Lot to the address of the Vendor specified in the Sales catalogue.  The decision of the independent veterinarian nominated by the Auctioneer as to whether any Lot is a Windsucker or Wobbler or has impaired vision, shall be final and binding on all parties.
18.4        Where the Purchaser terminates his purchase and returns the Lot to the Vendor pursuant to Condition 18.3, or cancels the sale pursuant to Condition 19 below,  he shall be entitled to a refund from the Vendor of all purchase monies paid in respect of the Lot and upon receiving the same shall have no further claim against the Auctioneer or Vendor.

19.          UPPER RESPIRATORY LARYNGOSCOPIC EVALUATION (RACING PROPOSITIONS ONLY)
19.1        ROARERS.  Should any lot show symptoms of being a roarer this must be disclosed in writing by the Vendor to the Auctioneer prior to the sale and the fact will be disclosed by the Auctioneer at the time of the sale.  If the Vendor or the Auctioneer shall fail to make the said disclosure and if the lot shall prove to be a roarer within twenty-four (24) hours of the sale, then subject to Condition 19.4 and subject to the Purchaser producing at his expense written evidence, signed by a veterinary surgeon selected by the Auctioneer, certifying that the said lot is a roarer, the sale shall be deemed to be cancelled.
19.2        Notwithstanding any other provision of these Conditions of Sale and notwithstanding any prior custom and usage of the trade, Lots which are sold in this sale may be subject to a post sale upper respiratory laryngoscopic evaluation (excluding the trachea) by a veterinary surgeon approved by the Auctioneer obtained at the purchaser's expense within twenty-four (24) hours of the fall of the hammer.  If the veterinary surgeon appointed by the purchaser is unable to conduct the upper respiratory laryngoscopic evaluation due to the refusal of the lot to be evaluated and/or the veterinary surgeon deems it unsafe to either the horse and/or scoping staff to conduct the evaluation, the time in which the evaluation is to be conducted will be extended for a further 48 hours.  If the lot is still unable to be evaluated within this period the purchaser may in their absolute discretion cancel the sale by notice in writing to the Auctioneer.
19.3        If a veterinary surgeon, so approved, is of the opinion that the Lot has any of the following conditions:-
                (i)laryngeal hemiplegia (grossly deficient abductor function of one or both Arytenoid cartilages, Grades 4 and 5 Lane Bain Fallon Proceedings 1993);
                (ii)rostral displacement of the palatopharyngeal arch;
                (iii)epiglottic entrapment;
                (iv)persistent dorsal displacement of the soft palate;
                (v)arytenoid chondritis or chondroma; or
                (vi)sub epiglottic cyst(s)
                (vii)cleft palate
                and this/these condition(s) have not been announced prior to the Lot being offered for Sale, then the purchaser may cancel the Sale by notice in writing to the Auctioneer within twenty-four hours (24) of the fall of the hammer.
19.4        Any purchaser who wishes to have a post Sale upper respiratory laryngoscopic evaluation, as above, is advised that this examination must be conducted by the veterinary surgeon, so approved, prior to the Lot being removed from the Auctioneer's complex.
19.5        The Auctioneer reserves the right to obtain a confirmatory opinion by a panel of not more than three (3) veterinary surgeons appointed by the Auctioneer before a notice of cancellation of sale is accepted by it.

20.          ATTORNEY
20.1        The Vendor and the Purchaser for the purpose of enabling the Auctioneer to give full force and effect to these Conditions, each irrevocably appoint the Auctioneer his true and lawful attorney, with full power in his name or in the name of the Auctioneer to do all such things to take all such action, to sign and execute all such documents and to give such instructions for the purposes of these Conditions as may be necessary or in the Auctioneer's opinion desirable and hereby agrees to ratify and affirm anything done by the Auctioneer as such attorney.
20.2        Without limiting clause 20.1, the Auctioneer may exercise the power of attorney so granted for the purpose of removing, waiving, or otherwise discharging any security interest purportedly granted by the Purchaser and in particular (to the extent the Purchaser is capable of doing so) removing the registration of such an interest.

21.          GOVERNING LAW AND PRIVATE SALES
21.1        Neither the Vendor nor the Purchaser may institute court proceedings (including without limitation proceedings for interlocutory relief) in relation to any dispute arising out of or relating to this agreement in any court other than a court in the State of Queensland.  The Vendor and the Purchaser equivocally submit to the jurisdiction of the courts of the State of Queensland.
21.2        These Conditions shall, in so far as possible, apply to the private Sale by the Auctioneer of any Lot entered for the Sale.
21.3        If any provision of these Conditions is or becomes unenforceable or invalid, the remaining provisions shall not be affected by but shall remain in full force and effect to the fullest extent permitted by law.

22.          X-RAYS AND REPOSITORY
22.1        Definitions 
22.1.1    "Repository" means the repository to be established by the Auctioneer/Promoter at the Complex at least four days prior to the commencement of the Auction, the conditions of entry into which and use of the services of which are set out in the Repository Conditions displayed at the Repository, the terms of which the Purchaser acknowledges having read and understood prior to the purchase of a Lot;
22.1.2    "Repository Conditions" means the conditions of entry into the Repository for the purpose of inspecting the X-rays and other terms and conditions relating to the terms and conditions of access and inspection as displayed at the Repository;
22.1.3    "X-rays" means the set of X-rays deposited at the Repository, albeit physical or digital format, (along with any reports, certificates, notes, writings or information deposited therewith) made available by the Vendor with respect to a Lot for inspection by the Purchaser's qualified licensed veterinary expert, such X-rays being in the minimum number and taken strictly in accordance with the specifications detailed in the Repository Conditions and otherwise subject to the Repository Conditions displayed at the Repository, the terms of which the Purchaser acknowledges as having read and understood prior to the purchase of a Lot.
22.2        Vendor's Acknowledgments, Obligations and Warranties
22.2.1    The Vendor acknowledges that he has been encouraged by the Auctioneer/Promoter to provide X rays with respect to each Lot offered for sale by the Vendor;
22.2.2    The Vendor must deliver the X-rays to the Auctioneer/Promoter at the Repository no later than 4.00pm four (4) days prior to the first day of the Sale.  No X-rays will be accepted by the Auctioneer/Promoter subsequent to the stated dates and times;
22.2.3    The Vendor warrants that the X-rays provided to the Auctioneer/Promoter will be certified as originals by a qualified licensed veterinary expert and will meet all the requirements set out in the Repository Conditions;
22.2.4    The Vendor warrants that he has the right to use the X-rays and irrevocably authorises the Auctioneer/Promoter to release the X-rays for inspection by prospective purchaser's qualified licensed veterinary experts prior to and during the Sale as provided in the Repository Conditions;
22.2.5    Subject to the Auctioneer's/Promoter's/Vendor's right to refuse any person, including a prospective Purchaser from inspecting the X-rays, the X-rays provided by a Vendor will be available for inspection by a Purchaser's qualified licensed veterinary expert (in the absence of written instructions from the Vendor to the contrary) at the Repository subject to the Repository Conditions;
22.2.6    The Vendor releases the Auctioneer/Promoter from any liability in the event of damage, loss or theft of the x-rays while in the possession of the Auctioneer/Promoter;
22.2.7    The Vendor warrants the quality, accuracy, validity, authenticity and completeness of the X-rays and that they comply strictly with the minimum requirements set out in the Repository Conditions;
22.2.8    The Vendor acknowledges that the Promoter/Auctioneer do not warrant the accuracy of the data contained in the X-rays and that the Promoter/Auctioneer do not review or evaluate the X-rays, and the Vendor releases them from all claims, damages, liability, actions, damages and losses whatsoever arising from the inspection of the X-rays, any defect or inaccuracy in the X-rays, and, the purchase of any Lot where a purchase followed an inspection of the X-rays;
22.2.9    The Vendor acknowledges that, once the X-rays are deposited at the Repository, the Vendor must not remove the X-rays from the Repository, nor, deposit any material or information with the X-rays.
22.3        Purchaser's Acknowledgements, Obligations and Warranties
22.3.1    The Purchaser acknowledges that his qualified licensed veterinary expert (and any other person authorised in writing by the Vendor) must register at the Repository and otherwise strictly comply with the Repository Conditions prior to and during inspection of the X-rays;
22.3.2    The Purchaser acknowledges that it is his sole responsibility to determine the quality, accuracy and completeness of the X-rays and to obtain independent advice with respect thereto from a qualified licensed veterinary expert;
22.3.3    The Purchaser acknowledges that X-rays may not be removed from the Repository or copied or reproduced in any form without the prior written consent of the owner thereof;
22.3.4    The Purchaser acknowledges that any Vendor may, in his absolute discretion, determine not to provide X-rays for a Lot, and, accordingly the Purchaser will purchase such Lot with all defects, latent and patent, and otherwise subject to the Conditions of Sale;
22.3.5    The Purchaser acknowledges and accepts the acknowledgments, obligations and warranties referred to in Condition 22.2 above and if the Purchaser alleges a breach of the Vendor's warranties, then the Purchaser and the Vendor must resolve their respective rights and liabilities and the provisions of Condition 17.3 apply;
22.3.6    The Purchaser acknowledges that he should fully inspect each Lot and the X-rays, subject to these Conditions of Sale and the Repository Conditions, along with his qualified licensed veterinary expert, prior to purchasing or attempting to purchase a Lot, and, failure to inspect or seek the said advice will be at the Purchaser's sole risk;
22.3.7    The purchaser acknowledges that once the Lot has been sold, there will be no further access to the X-rays for any purpose whatsoever.
22.3.8    The Purchaser warrants that in inspecting the X-rays that he will at all times act in a bona fide manner.
22.4        Vendor's/Purchaser's Acknowledgments and Indemnities
22.4.1    The Vendor and the Purchaser acknowledge and accept that neither the Auctioneer nor the Promoter will review the X-rays and therefore makes no warranty or assurance of any kind concerning the authenticity, quality, accuracy or completeness of the X-rays, the responsibility for which lies with the Vendor;
22.4.2    The Vendor and the Purchaser acknowledge and accept that the depositing and inspection of the X-rays, and, the use of the Repository, will not vary or amend the terms of these Conditions of Sale which shall continue to be binding upon the Vendor and the Purchaser, nor does such deposit, inspection or use create any additional express or implied warranties upon which either the Vendor or the Purchaser can rely, other than those allowed by statute or law;
22.4.3    The Vendor and the Purchaser acknowledge and accept that neither the Auctioneer nor the Promoter will be liable for any claim, damages, liability, actions, demands or losses whatsoever in the event that the X-rays are of poor quality, inaccurate, invalid or incomplete;
22.4.4    The Vendor and the Purchaser acknowledge and accept that the sale and purchase of a Lot is effected on the fall of the hammer pursuant to Condition 2 of the Conditions of Sale and, subject to the Conditions of Sale, the Purchaser purchases each Lot with all faults and defects, latent and patent.  The Vendor acknowledges and accepts that the Auctioneer will be entitled to its commission immediately upon the effecting of the sale (subject to the Conditions of Sale) and the Vendor's obligation to pay the commission will stand notwithstanding any subsequent dispute between the Vendor and the Purchaser;
22.4.5    The Vendor and the Purchaser acknowledge that the Vendor has instructed the Auctioneer/Promoter to restrict access to the X-rays, in the absence of written instructions to the contrary, to qualified licensed veterinary experts.
22.4.6    The Vendor and the Purchaser acknowledge that the X-rays remain the legal property of the Veterinarian who took them.  Subject to Condition 22.5.3, permission must be obtained by the said Veterinarian prior to removing the X-rays from the Repository.
22.5        Auctioneer's/Promoter's Acknowledgment And Obligations
22.5.1    The Auctioneer/Promoter will, at their cost, provide and make available the Repository for use by the Vendor, the Purchaser and the Purchaser's qualified licensed veterinary expert in accordance with these Conditions of Sale and the Repository Conditions;
22.5.2    The Auctioneer/Promoter will make the Repository available to receive the X-rays from the Vendor, and, make available the X-rays for inspection, in the absence of written instructions from the Vendor to the contrary, by the Purchaser's qualified licensed veterinary expert subject to these Repository Conditions and the Standard Conditions of Sale;
22.5.3    Subject to the Auctioneer's/Promoter's right to retain possession of the X-rays for whatever reason and for so long as the Auctioneer/Promoter chooses, the Auctioneer/Promoter will allow the Vendor or his nominated agent in writing, to collect the X-rays from the Repository after the expiration of forty two (42) days from the last day of the Sale;
22.5.4    The Auctioneer/Promoter has requested each Vendor of a Lot to provide X-rays of each Lot in accordance with the Repository Conditions but will not be liable for any claim, damages, liability, actions, demands or losses whatsoever, from the Vendor, Purchaser or any person or party by virtue of the fact that a Vendor elects not to provide X-rays with respect to any Lot;
22.5.5    The Vendor will, in accordance with the Repository Conditions, be entitled to inspect (or have an agent authorised in writing to inspect) a register, kept for that purpose, of any party who has inspected the X-rays of a Lot submitted by that Vendor.
23.          NO REPRESENTATION AS TO SUITABILITY FOR TRAINING OR RACING OF A LOT
The Purchaser acknowledges that the Vendor/Auctioneer/Promoter does not warrant or represent the physical condition of any Lot, or, that any Lot is suitable for being trained as a race horse, or, capable of being trained as a race horse, or, suitable or capable of competing in races or any other activities involving thoroughbred race horses, or for any purpose whatsoever.

24.          AGENCY
The Auctioneer/Promoter act as agents for Magic Millions Partnership (ABN 99 519 379 694).
25.          CONDITIONS OF NOMINATION AND REPOSITORY CONDITIONS
The Vendor acknowledges having read the Conditions of Nomination and the Repository Conditions and accepts them.  The Purchaser acknowledges having read the Repository Conditions and accepts them.  Further, the Vendor and the Purchaser will abide and be bound by all reasonable practices and business methods employed by the Auctioneer/Promoter in the conduct of their business and the Sale, and, acknowledge that these Conditions may be changed or amended from time to time in the absolute discretion of the Auctioneer/Promoter.  The Purchaser acknowledges that the Vendor has instructed the Auctioneer/Promoter, in the absence of written instructions to the contrary, to restrict access to the X-rays to qualified licensed veterinary experts, and, further acknowledge that it is the responsibility of the Purchaser to obtain written authority from the Vendor if the purchaser requires a person other than a qualified licensed veterinary expert to examine the X-rays.

26.          OCCUPATIONAL HEALTH AND SAFETY
26.1        To the extent that a vendor or purchaser or their employees or agents may conduct any activities on the auctioneer's premises then that vendor or purchaser shall be responsible, to the exclusion of the auctioneer, for establishing and observing appropriate occupational health and safety procedures, and for complying with any relevant legislation provisions, in relation to those activities.
26.2        A vendor or purchaser conducting any activities on the auctioneer's premises does so at his own risk in all respects and must indemnify the auctioneer in respect of any claims for personal injury or damage to property which may be made against the auctioneer arising out of any such activities.

27.          VENDOR'S ADDITIONAL WARRANTIES: LOT DESCRIPTION, TITLE AND POSSESSION
The Vendor warrants that:
27.1        The description, pedigree and other information in respect of the Lot is as specified in the Sale Catalogue; and
27.2        The Vendor has the right to sell the Lot and can give good title to the Lot; and
27.3        The Purchaser will obtain quiet possession on completion of the Purchaser's obligations under these Conditions.

IMPORTANT DISCLAIMERS
For the information of Purchasers, the Auctioneer and the Promoter have provided certain information on the horses catalogued for Sale.  Any information is obviously subject to constant change and revision and the Auctioneer and the Promoter, their subsidiaries, officers and agents for themselves and for those for whom they act, provide all such information without responsibility and give no guarantee nor make any representations whatsoever as to its accuracy.

Not withstanding Condition 26, all persons who attend the Sale do so entirely at their own risk and neither Magic Millions Sales Pty Limited (ABN 54 078 396 317) nor Magic Millions Promotions Pty Limited (ABN 41 088 197 200) nor their subsidiaries, officers or agents for themselves and for those whom they act, assume or accept any responsibility or liability of whatever nature for any injury or damage whatsoever which may occur to any person or property.

MAGIC MILLIONS 2010 NATIONAL YEARLING & RACEHORSE SALE

IMPORTANT: PLEASE READ
All bids and offers to purchase shall be treated as offers made upon the following Conditions of Sale and all persons attending the Sale or bidding at the Sale shall be deemed to have notice of such Conditions of Sale.

1.            INTERPRETATION
1.1          In these Conditions:
                'Auctioneer' means Magic Millions Sales Pty Limited (ABN 54 078 396 317) and having Auctionneer's and Agent's Licence No. 2005419 and includes its officers and agents; 'Purchaser' means the person or corporation to whom any Lot is sold as referred to in Condition 2; 'Vendor' means the person or corporation on whose behalf any Lot is sold by the Auctioneer and where more than one shall mean each severally and any two or more jointly; 'Promoter' means Magic Millions Promotions Pty Limited (ABN 41 088 197 200) or any other party, identified in the Sale catalogue or other documentation issued in respect of the Sale as the promoter or sponsor of the Sale or of a closed race series or incentive race series in association with which the Sale is conducted; 'Series Race' means the closed race series or incentive race series (if any) identified in the Sale catalogue or other documentation issued in respect of the Sale; 'Lot' or 'horse' includes gelding, colt and filly.  The expression 'colt' includes rig or crypt orchid, namely male animals in which one or both testes have not descended into the scrotum from the abdomen.
1.2          Where the Purchaser of any Lot comprises more than one person or corporation these Conditions shall bind each such person or corporation severally and any two or more of such persons or corporations jointly.
1.3          A bidder is taken to be a principal unless, before bidding, the bidder has given to the Auctioneer a copy of a written authority from a third party principal to bid for or on behalf of that third party principal.

2.            CONDUCT OF SALE
2.1          The Vendor shall have the right to bid personally or through an agent.
2.2          All bidders must have registered their names and addresses with the Auctioneer prior to the commencement of the sale.
2.3          The highest bidder shall be the Purchaser, subject to any Reserve Price.  Should any dispute arise concerning bidding, the Lot shall be immediately put up for Sale at the last undisputed bid or the dispute may be determined by the Auctioneer, whose decision shall be final and binding.
2.4          The Auctioneer shall have the right, in its absolute discretion to;
2.4.1      determine who is the Purchaser;
2.4.2      settle any dispute in such manner as it thinks fit;
2.4.3      withdraw any Lot before or during the Sale;       
2.4.4      advance the bidding as it thinks fit;
2.4.5      exclude any person from the Sale venue; or
2.4.6      refuse to acknowledge any bid without giving any reason therefore, and the Auctioneer's decision shall be final and binding upon all persons;
2.4.7      determine an upset price on each Lot entering the ring.  If an opening bid of the appropriate figure is not forthcoming to the Auctioneer's call within thirty (30) seconds, a Lot may be passed out of the ring.  The Vendor shall be entitled to instruct the Auctioneer to re-offer that Lot on completion of the Auction and the horse shall be re-offered without reserve;
2.4.8      bid as an Agent on behalf of a principal.
2.5          Subject to any Reserve Price, all Lots are sold at the final bid accepted by the Auctioneer in Australian currency dollars.  (Any other bids or currencies displayed on the Indicator Board are displayed as a guide only.)
2.6          As soon as practical after the fall of the hammer the Purchaser will sign an agreement (if any), for sale/acknowledgement of purchase form in a form requested by the Selling Agent.
2.7          Any Auctioneer's announcements on the day of the sale which are announcements from the Auctioneer's stand will take precedence over:
2.7.1      these Conditions;
2.7.2      any statements in the Sale Catalogue; or
2.7.3      any other written or oral statement, particular or representation previously published or made.
2.8          Any further or different conditions relating to any sale or any Lot or any Purchaser must be recorded in writing and signed prior to the Auction by or on behalf of the Vendor, the Purchaser and the Auctioneer, and ,if not so recorded, shall be of no effect.

3.            RESERVED SALE
3.1          Where the Sale is conducted as a Reserved Sale, the following provisions will apply.
3.2          Reserve cards will be mandatory.  The Vendor must advise the Auctioneer in writing of the reserve price for each Lot before the Lot is offered for Sale. Where no reserve card is provided the Vendor or his representative must attend in the Auctioneer's rostrum to advise the Auctioneer and will be required to sign a reserve card before leaving the rostrum if the Lot is passed in.  Should there be no reserve card, no Vendor or Vendor's representative in the Auctioneer's rostrum at the time that the Lot is offered for Sale, then the Lot shall be sold to the highest bidder and the Vendor shall pay the full commission and any other amounts payable.
3.3          The last bidder shall have the option to buy at the reserve price of a passed in Lot.  This option must be exercised prior to the Lot leaving the Sale ring.  The Auctioneer shall be entitled to commission on any Lot so sold, as if it were sold under the hammer.

4.            RISK AND EXPENSE
4.1          Upon the fall of the hammer each Lot shall be at the risk and expense in all respects of the Purchaser and the Purchaser shall indemnify the Auctioneer in respect of and pay to the Auctioneer on demand all loss, damage, costs and expenses incurred or suffered by the Auctioneer in respect of the Lot while the Lot is at the Purchaser's risk and expense.  In particular, the Purchaser will be liable for livery, agistment and transport charges for Lots not removed on the day of the Sale and they may be moved to alternate stables or agistment at the Auctioneer's discretion.  Payment for Lots shall not be regarded as made until such charges have been paid.
4.2          Prior to the fall of the hammer each  Lot shall be at the risk and expense in all respects of the Vendor, and the Vendor shall indemnify the Auctioneer in respect of and pay to the Auctioneer on demand all loss, damage, costs and expenses incurred or suffered by the Auctioneer in respect of the Lot while the Lot is at the Vendor's risk and expense.
4.3          Notwithstanding any other provisions hereof, the Auctioneer shall not be liable for any damage, loss or injury occurring to any Lot or to any person or property caused by any Lot, whether caused by disease, accident, the negligence of the Auctioneer or otherwise and whether the Lot shall be in the custody, control or possession of the Auctioneer or otherwise.
4.4          The Auctioneer may upon receipt of written instructions so to do or where the Auctioneer in its absolute discretion considers it desirable to do so, make arrangements on the Purchaser's or Vendor's behalf for the stabling, feeding, transportation or general attendance to Lots while at the Sales venue provided that the Auctioneer accepts no responsibility for any act or omission whether negligent or otherwise in respect of the stabling, feeding, transportation or general attendance of any Lot.
4.5          Any Lot not sold or in respect of which any Sale is subsequently terminated shall remain at or revert to the risk and expense in all respects of the Vendor who shall arrange for the removal of the Lot immediately following the Sale.

5.            INSPECTION AND EXAMINATION
5.1          All Lots may be inspected at reasonable times prior to Sale.  Prior to Sale, a prospective Purchaser may arrange for a veterinary examination of a Lot with the Vendor.  Such examination shall be carried out in the privacy of a stable and may not be carried out in the Sale ring or within the public view.  The cost of this examination shall be paid for by the prospective Purchaser, solely to whom the veterinarian should make his report.  The Auctioneer or Vendor may refuse examination.
5.2          The Purchaser assumes all consequences and risk arising from failure to carry out an inspection or to seek an inspection or to seek an examination of a Lot.

6.            PURCHASE AND PAYMENT
6.1          On the fall of the hammer the Purchaser shall give his name and address and the name and address of the principal for whom he bids (if applicable) to the Auctioneer and shall immediately complete, sign and hand to the Auctioneer an acknowledgement of his purchase in such form as shall be required  by the Auctioneer and provide to the Auctioneer any such other information in respect of the purchase as the Auctioneer may reasonably require.
6.2          If the Purchaser fails to comply with the requirements of Condition 6.1, then the Auctioneer may elect to declare the Purchaser in default and cancel the sale and re-sell the Lot.  If, on resale of the Lot, a lower price is obtained, then the difference in price plus any expenses of the resale shall be a debt owing by the Purchaser to the Vendor payable on demand, with interest at the rate of 1.25% per month from the date of resale until payment.
6.3          Horses are sold with all engagements, if any.
6.4          Subject to Condition 9, the full purchase price shall be due and payable to the Auctioneer in Australian currency within one hour of purchase or within such other period of time as the Auctioneer or Vendor may permit pursuant to Condition 9 below, time being of the essence, notwithstanding that delivery may not have been made.
6.5          The Auctioneer may in its absolute discretion reject payment otherwise than in cash or an unendorsed bank cheque.
6.6          The Purchaser shall pay the Auctioneer on demand all collection costs and expenses (including legal costs on a Solicitor & own client basis) incurred in recovering any payment from the Purchaser.
6.7          The Purchaser authorises the Auctioneer to disclose information relating to the Purchaser's creditworthiness or default in payment to a credit reporting agency if the Purchaser is in arrears in making payments relating to credit provided (1) sixty (60) days have elapsed since the day on which payment was due and payable by the Purchaser, and, (2) the Auctioneer has sent written notice to the last known address of the Purchaser advising the Purchaser of the overdue payment and requesting payment of the amount outstanding.
6.8          The Purchaser shall not, until the full purchase price is paid and all other obligations to the Vendor and the Auctioneer are fulfilled, register or attempt to register any security interest in the Lot.
6.9          If the person signing the Purchaser's Acknowledgement or bidding on behalf of the Purchaser is not the Purchaser (whether the person is a director, agent, attorney or otherwise), such person guarantees to the Vendor and to the Auctioneer the performance of the Purchaser under these terms and conditions, and indemnifies the Vendor and the Auctioneer for any loss and damage arising from any default or breach by the Purchaser.  This guarantee and indemnity may only be waived in writing by a director of the Auctioneer or by the acceptance by the Auctioneer of a duly completed Appointment of Agent form.

7.            GOODS AND SERVICES TAX (GST)
7.1          All lots are offered on a GST exclusive basis.
7.2          Goods and Services Tax ("GST") is payable on the auction price of thoroughbreds where the vendor is registered for GST.
7.3          The GST registration status of Vendors is noted on the catalogue page for each lot offered.
7.4          Where a Vendor is fully registered, GST of 10% will be added to the final bid price.
7.5          Where a Vendor is not registered no GST is added to the final bid price.
7.6          The Vendor and the purchaser undertake to do all things necessary to ensure that the provisions of the GST Act are met in relation to sales that do not, or claimed not to attract GST.
7.7          Magic Millions Sales Pty Limited accepts (and it is agreed by the vendor and purchaser) no liability for any GST liability arising as between the Purchaser and the Vendor and the ATO in respect of bloodstock sold through Magic Millions Sales Pty Limited either at auction or by private treaty.
7.8          Vendors who are not residents of Australia agree that they will offer their horse/s for sale on the basis that the sale/s will be made in Australia.
7.9          GST is payable on all services provided by or through Magic Millions Sales Pty Limited.

8.            GST & EXPORT
8.1          In accordance with a Private Ruling issued by the Australian Taxation Office on 25th March 2002 the Auctioneer is required to charge GST on all Lots sold (subject to Conditions 7.4 and 7.5).
8.2          The Purchaser must pay to the Auctioneer all GST invoiced.
8.3          The Vendor and the Purchaser acknowledge that it is their responsibility to acquaint themselves with and comply with the requirements of the GST Act at their cost
8.4          The Vendor acknowledges that the Auctioneer has no responsibility to pay the GST to the Vendor until such time as it is paid by the Purchaser.
8.5          If a Lot is purchased by a Non-Resident for the purpose of export the following conditions apply:
8.5.1.1   If a Purchaser, who is not registered or required to be registered for GST desires to export a Lot and signs and gives to the Auctioneer a properly completed and signed Magic Millions Export Declaration Form (such form being prescribed by and available upon request from the Auctioneer), then the Auctioneer will not add GST to the price of the Lot sold, except in the circumstances set forth in the Magic Millions Export Declaration Form where the Purchaser of the Lot acknowledges and accepts that GST is payable in respect of the Lot.
8.5.1.2   It is the responsibility of the Purchaser to ensure that the Lot is exported within sixty (60) days.
8.5.2      The Auctioneer will give the Vendor of a Lot referred to in Condition 8.5.1, a copy of the relevant Magic Millions Export Declaration Form within 7 days after it is executed by the Purchaser.
8.5.3      The Purchaser will comply with all obligations imposed upon the Purchaser in the Magic Millions Export Declaration Form
8.5.4      The Purchaser of a Lot referred to in Condition 8.5.1 must notify the Auctioneer and the Vendor in writing:
8.5.4.1   Within 7 days after the Lot has been exported from Australia that the export has taken place;
8.5.4.2   At least 4 weeks prior to the expiration of the period of time permitted or approved by the Australian Taxation Office for the export of the Lot from Australia as to whether or not the Lot has been exported and what is intended in relation to is exportation.
8.5.5      The Purchaser acknowledges that it is liable for GST of 10% of the purchase price of the Lot if it is not exported within the period allowed by the Australian Taxation Office to export the Lot. If GST is payable in respect of that Lot and is not paid within 30 days of the Purchaser receiving notification that payment is due, the Purchaser agrees that the amount of the GST is a liquidated debt and will consent to entry of judgement against it for the amount of the GST and it agrees that an Affidavit sworn by the Vendor or his solicitor shall be prima facie evidence of the amount of GST payable by the Purchaser.

9.            CREDIT ARRANGEMENTS
9.1          Any Purchaser requiring credit from the Auctioneer or Vendor must enter into a satisfactory credit or terms agreement with the Auctioneer or Vendor in writing prior to the Sale.  All such agreements entered into at any time prior to delivery of the Lot shall be made by the Auctioneer as principal and not as Agent of the Vendor and such agreements shall not form part of any Sale and purchase whether made by auction or private.
9.2          Purchasers are cautioned that approval of credit for prior Sales does not establish credit for Purchasers at this Sale.  To avoid misunderstandings clients must re-establish credit before bidding.
9.3          The Auctioneer shall not be obliged to acknowledge or accept any credit or terms agreement entered into between the Purchaser and the Vendor until the Auctioneer has received satisfactory written evidence of such credit or terms agreement signed by the Vendor.
9.4          With regard to the insurance of any Lot purchased by any Purchaser, such Purchaser will strictly comply with his obligations to insure the Lot as is set out in Condition 12.1.2 of these Conditions.
9.5          If a Purchaser requires credit from the Auctioneer or a Vendor, the Purchaser consents to the party asked to provide credit seeking and receiving information from a credit reporting agency with respect to the Purchaser, seeking information from any party to enable the party providing credit to assess the creditworthiness of the Purchaser and allowing the party providing credit to disclose the information obtained as to the Purchaser's creditworthiness to trade insurers and credit reporting agencies.  The Purchaser agrees to a credit reporting agencies and trade insurers providing to, and collecting from, the party asked to provide credit, information about the Purchaser’s creditworthiness.

10.          INTEREST
10.1        Without prejudice to the Purchaser's payment obligations pursuant to Condition 6, the Purchaser shall pay to the Auctioneer on demand interest at the rate of 1.25% per month, on;
10.1.1    the purchase price of any Lot or part thereof which remains unpaid as at the date of Sale, from the date of Sale to the date of payment;
10.1.2    all other monies payable by the Purchaser to the Auctioneer pursuant to these Conditions, from the date which the same become payable to the Auctioneer to the date of payment; and
10.1.3    all collection costs and expenses (including legal costs on a Solicitor & own client basis) incurred in recovering payment of any monies from the Purchaser from the date that the same are incurred to the date of payment by the Purchaser; such interest to be calculated monthly on daily rates and be capitalised monthly.

11.          DELIVERY
11.1        The Auctioneer shall not be obliged to deliver any Lot to the Purchaser until:
11.1.1    the Auctioneer shall have received from the Purchaser full payment of all monies payable by the Purchaser to the Auctioneer pursuant to these Conditions (including the purchase price for the Lot, unless the Auctioneer is satisfied that a prior credit or terms agreement in writing has been made with the Auctioneer or Vendor) or any other agreement, oral or written, entered into between the Auctioneer or Vendor and the Purchaser, and until all bills of exchange tendered in payment have been honoured;
11.1.2    the Purchaser shall have completed, signed and delivered to the Auctioneer a delivery slip in such form as shall be required by the Auctioneer;
11.1.3    the Purchaser shall have complied to the satisfaction of the Auctioneer, with all his other obligations under these Conditions of Sale, including without limitation, his obligations in respect of insurance of the Lot pursuant to Condition 12; and
11.1.4    where the Purchaser requires the Lot to be delivered to his Agent, the Auctioneer has received a written direction from the Purchaser directing the Auctioneer to deliver the Lot to such Agent providing that nothing in this condition shall oblige the Auctioneer to obtain such written authority from an Agent prior to delivering any Lot to such Agent.
11.2        The Purchaser shall remove his Lot from the Sale venue within twenty four (24) hours of the sale of the Lot.  The Purchaser shall ensure that the Auctioneer has firstly checked and confirmed the identity of the Lot prior to its removal.

12.          INSURANCE
12.1        Where the Auctioneer or the Vendor agrees to deliver any Lot to the Purchaser (subject at all times to Conditions 9 and 11 above):
12.1.1    Prior to the Auctioneer receiving from the Purchaser full purchase price for the Lot; or
12.1.2    further to Condition 9.4, where a credit or terms agreement is made between the Auctioneer and the Purchaser or the Vendor and the Purchaser whether before or after the Sale;
                the Purchaser shall effect and maintain at the Purchaser's cost and expense, mortality insurance (in an amount not less than the purchase price of the Lot) with a reputable insurance company approved by the Auctioneer or the Vendor as the case may be in respect of the Lot until such time as the Auctioneer and or the Vendor shall have received all monies payable in respect of the Lot or repayable by the Purchaser pursuant to any credit agreement entered into in respect of the purchase of the Lot and the Purchaser shall ensure that the policy of insurance bears an endorsement noting the Auctioneer's and the Vendor's (as the case may be) interest in the Lot and the Purchaser shall execute such documents as may in the opinion of the Auctioneer be necessary to transfer to the Auctioneer and/or the Vendor all the Purchaser's interest under such insurance absolutely. 
12.2        The Purchaser will immediately deliver to the Auctioneer or the Vendor (as the case may be) a certificate of currency confirming that the Purchaser has complied with his obligations to insure as set out in Condition 12.1.2.
12.3        The Auctioneer and the Promoter recommend that the Purchaser immediately effects and maintains for the life of the Lot insurance for any damage, injury or death caused by the Lot in an amount sufficient to protect the Purchaser for each claim as advised by the Purchaser's insurance adviser.

13.          PURCHASER OF MORE THAN ONE LOT
13.1        Where a Purchaser purchases more than one Lot at any one Auction, the Auctioneer may, in the absence of written directions from the Purchaser to the effect that a payment of the Purchase Price is to be a payment of the Purchase Price for a specific Lot, appropriate such payment as it elects to do so and may allocate the payment in relation to any particular Lot or Lots that it determines.
13.2        Where a Purchaser does not nominate payment for a specific Lot and the Auctioneer splits a payment made by a Purchaser across a number of Lots, such that each Lot is partly paid, the Purchaser accepts, acknowledges and agrees that title to any of those Lots will not pass to the Purchaser until such time as the full Purchase Price for all the Lots has been paid by the Purchaser.
13.3        In the circumstances envisaged by point 2 above, the Purchaser accepts, acknowledges and agrees that the Auctioneer is entitled to retain the Horse Identification Papers for all Lots until payment for all the Lots purchased at the one Auction have been paid for.

14.          TITLE TO LOTS
14.1        Notwithstanding any express or implied provisions hereof to the contrary and notwithstanding that delivery of any Lot may have been made or possession obtained, title in a Lot shall not pass to the Purchaser until all monies payable by the Purchaser to the Auctioneer and or the Vendor pursuant to these Conditions of Sale in respect of the Lot shall have been received by the Auctioneer and or the Vendor, and all bills of exchange tendered in payment of such monies have been honoured.
14.2        Where delivery of any Lot is made to the Purchaser prior to title in the Lot passing to the Purchaser pursuant to these Conditions of Sale, the Purchaser shall hold the Lot as bailee only and shall not deal with the Lot in any manner inconsistent with the reasonable directions which may be given from time to time by the Vendor and/or the Auctioneer.
14.3        Until title of the horse has passed to the Purchaser, the Purchaser shall not exercise or purport to exercise any rights of ownership or possession including, without limitation, registering or racing the horse.

15.          DEFAULT BY PURCHASER
15.1        In the event that the Purchaser breaches any of these Conditions and fails to remedy such breach within reasonable time after receiving written notice from the Vendor or Auctioneer requiring such breach to be remedied, or all monies payable by the Purchaser to the Auctioneer pursuant to these Conditions shall not have been paid and liquidated by the due date for payment thereof, or where the Auctioneer has, in its discretion, agreed to an extension of the date for payment (in which event time shall be of the essence in respect of such extended date) and the same shall not have been paid and liquidated by such extended date, the Auctioneer or the Vendor may at any time without prejudice to any other rights or remedies which the Auctioneer or Vendor may have at law or in equity and without notice to the Purchaser;
15.1.1    terminate the Sale of the Lot; and/or
15.1.2    immediately re-take possession of the Lot and for that purpose the Purchaser hereby irrevocably grants to the Auctioneer and/or Vendor full leave and license to enter into or upon any premises controlled by the Purchaser upon which the Lot may be or may reasonably be believed to be situated and to use any reasonable force as may be necessary for the purpose of repossessing the Lot, or as agent of the Purchaser to enter upon any other premises upon which the Lot may be or may reasonably be believed to be situated upon which the Purchaser may enter for the purpose of repossessing the Lot, without notice to the Purchaser and without liability to the Purchaser or any person claiming under the Purchaser; and/or
15.1.3    resell the Lot by auction or private Sale at the risk and expense of the Purchaser and
                (i) If upon re-Sale the Net Proceeds of Sale exceed that for which the Purchaser had agreed to buy the Lot (and any other fees and charges payable by the Purchaser in respect of the Lot), the Auctioneer or Vendor is entitled to keep that excess and the Purchaser shall make no claim to that excess, or;
                (ii) if upon such re-Sale a lower price is obtained than that for which the Purchaser had agreed to buy the Lot, the Auctioneer or Vendor may recover the difference from the Purchaser as a debt due on demand together with interest from the date of sale to the date of payment; and/or
15.1.4    exercise such other rights and remedies as the Vendor or Auctioneer may have against the Purchaser in respect of the Purchaser's default including, without limitation, recovering from the Purchaser all costs and expenses incurred in repossessing or attempting to repossess the Lot together with interest thereon and recovering from the Purchaser any expense of Sale, re-Sale, livery and agistment and Auctioneer commission so incurred; and/or
15.1.5    retain any deposit or part payment to the extent of twenty-five percent (25%) of the purchase price for the benefit of the Vendor;
15.1.6    sue the Purchaser for any damages or loss.
15.1.7    in addition to its rights pursuant to Conditions 6.7 and 9.5, in its absolute discretion and with the irrevocable consent of the Purchaser, refer the default and all details with respect thereto to, and request any credit information of, or/and details with respect to, the Purchaser, to any credit or commercial recovery agent of its choice, and, disseminate, disclose and use the information so obtained in its absolute discretion.

16.          RIGHTS AND LIABILITIES OF AUCTIONEER
16.1        The Auctioneer in selling any Lot at the Sale acts as agent for the Vendor whose name and address is disclosed in the Sales catalogue in respect of the Lot.  Further particulars of the Vendor of any Lot shall be furnished by the Auctioneer immediately upon request.  Except as otherwise expressly provided to the contrary, the Auctioneer has no liability or rights as principal in the capacity of a Vendor.
16.2        In the event of any dispute including without limitation, as to defects in title, misdescription, pedigree, condition or otherwise, the Purchaser and the Vendor shall settle the matter between themselves and the Purchaser shall have no rights against nor return any Lot to the Auctioneer which acts in respect of the Sale merely as agent for the disclosed Vendor.
16.3        Notwithstanding any representation or action by the Auctioneer which may indicate the contrary, the Auctioneer shall be under no liability to the Vendor in respect of the Purchaser's failure to complete his purchase in accordance with these Conditions of Sale.
16.4        If the Auctioneer accounts to the Vendor for the purchase price or the balance of the purchase price, then in addition to the other rights conferred on the Auctioneer by these terms and conditions, the Auctioneer is entitled to exercise in its own name or the name of the Vendor any of the Vendor's rights including the right to be paid the purchase price and to repossess the Lot or exercise any security interest of the Vendor, registered or otherwise. 
16.5        The description of all Lots has been provided by the Vendors and the Auctioneer shall not be liable or responsible for any error whatsoever in the description of any Lot including, without limitation, any error in relation to the eligibility of the Lot for inclusion in the Australian Stud Book, or the Lot's compliance with the requirements for inclusion, or continued inclusion.
16.6        The rights and remedies of the Auctioneer under these Conditions shall not be affected by reason of the selling commission and charges of the Auctioneer having been deducted by the Auctioneer from any payment made by the Auctioneer to the Vendor.  As between the Purchaser and the Auctioneer, the Purchaser waives all rights of set off, if any, the Purchaser may otherwise have had against the Vendor.
16.7        The Auctioneer or its servants may sign the Sale Book or any Memorandum of Sale on behalf of either the Vendor or the Purchaser or both.
16.8        The Auctioneer reserves all rights to use or publish details of bidding, the identity of the Vendor and the Purchaser and all matters related to the Sale of any Lot as it thinks fit.
16.9        If any sale is cancelled for any reason, the Auctioneer shall remain entitled to receive its commission on the sale, and to be paid or reimbursed for all money owing to it by either the Vendor or the Purchaser, for any charges, dues (including stabling and yard dues, fees and the like), interest and any other money owing to the Auctioneer.

17.          CONDITIONS AND WARRANTIES
17.1        Other than for any express conditions, warranties or representations included herein, or as may be implied by Federal or State legislation (including the Trade Practices Act 1974 [Cwth]) and which may be excluded by agreement;
17.1.1    all conditions, warranties and representations in respect of a Lot or a Sale are hereby excluded;
17.1.2    no condition, warranty or representation is given or implied or may be inferred from any affirmation made at or before the Sale or any of the circumstances of the Sale; and
17.1.3    the Purchaser acknowledges that, in making any purchase, he is relying solely on his own enquiries and inspection, and that he has not relied or been induced by any statement or representation made by the Vendor or the Auctioneer or the Promoter or by any person purporting to act on their behalf and, subject to these Conditions of Sale, the Purchaser shall take the Lot in its present condition and subject to all defects, faults, imperfections and the like, if any, whether latent or patent.
17.2        Where any Lot is described in the Sales catalogue or by the Auctioneer or Vendor to be a 'colt' the Purchaser shall not be entitled to make any objection and shall not have any claim against the Auctioneer or Vendor if such Lot is an animal in which one or both testes have not descended into the scrotum from the abdomen.
17.3        Whereby if a dispute arises between the Vendor and the Purchaser in relation to a Lot, this must be resolved between them only.  The Lot cannot be returned to the Auctioneer or it's stables. 
17.4        The Vendor acknowledges having read and understand the Conditions of Nomination of the Sale.
17.5        If a company, the Vendor warrants and represents to the Auctioneer and the Purchaser that there are no fixed charges affecting the Lot, that there are no floating charges affecting the Lot or such charges are not in default, and that the Vendor and no officer thereof is aware of any circumstances by which any floating charge in relation to the Vendor may have crystallised.  The Vendor warrants and represents that the Lot is being sold in the ordinary course of business.

18.          WINDSUCKERS, WOBBLERS AND IMPAIRED VISION
18.1        For the purposes of this Condition:
                "Windsucker" shall mean a Lot which suffers from the vice of noisily drawing in and swallowing air through its mouth;
                "Wobbler" shall mean a Lot which stands or moves unsteadily or with uncertain direction;
                "Impaired Vision" refers to impaired sight in one or both eyes.
18.2        Should any Lot be a Windsucker or Wobbler or to the knowledge of the Vendor have shown any symptoms of being so, the Vendor shall disclose such fact to the Auctioneer to enable the Auctioneer to disclose such fact to prospective bidders.  Any horse with impaired vision will not knowingly be offered for Sale.
18.3        In the event that:
18.3.1    any Lot proves within seven (7) days after the Sale to be a Windsucker or Wobbler or to have been sold with impaired vision;
18.3.2    the Purchaser produces to the Auctioneer or Vendor prior written certification obtained at the cost of the Purchaser that the Lot is a Windsucker or Wobbler or has impaired vision, as the case may be, signed by an independent veterinarian nominated by the Auctioneer; and
18.3.3    the Auctioneer or Vendor did not disclose at the Sale that the Lot was or showed symptoms of being a Windsucker or Wobbler, as the case may be; the Purchaser may terminate his purchase of the Lot by giving the Auctioneer written notice of termination within seven (7) days after the date of Sale provided that the Purchaser shall upon termination at his own cost and expense return the Lot to the address of the Vendor specified in the Sales catalogue.  The decision of the independent veterinarian nominated by the Auctioneer as to whether any Lot is a Windsucker or Wobbler or has impaired vision, shall be final and binding on all parties.
18.4        Where the Purchaser terminates his purchase and returns the Lot to the Vendor pursuant to Condition 18.3, or cancels the sale pursuant to Condition 19 below,  he shall be entitled to a refund from the Vendor of all purchase monies paid in respect of the Lot and upon receiving the same shall have no further claim against the Auctioneer or Vendor.

19.          UPPER RESPIRATORY LARYNGOSCOPIC EVALUATION
19.1        ROARERS.  Should any lot show symptoms of being a roarer this must be disclosed in writing by the Vendor to the Auctioneer prior to the sale and the fact will be disclosed by the Auctioneer at the time of the sale.  If the Vendor or the Auctioneer shall fail to make the said disclosure and if the lot shall prove to be a roarer within twenty-four (24) hours of the sale, then subject to Condition 19.4 and subject to the Purchaser producing at his expense written evidence, signed by a veterinary surgeon selected by the Auctioneer, certifying that the said lot is a roarer, the sale shall be deemed to be cancelled.
19.2        Notwithstanding any other provision of these Conditions of Sale and notwithstanding any prior custom and usage of the trade, Lots which are sold in this sale may be subject to a post sale upper respiratory laryngoscopic evaluation (excluding the trachea) by a veterinary surgeon approved by the Auctioneer obtained at the purchaser's expense within twenty-four (24) hours of the fall of the hammer.  If the veterinary surgeon appointed by the purchaser is unable to conduct the upper respiratory laryngoscopic evaluation due to the refusal of the lot to be evaluated and/or the veterinary surgeon deems it unsafe to either the horse and/or scoping staff to conduct the evaluation, the time in which the evaluation is to be conducted will be extended for a further 48 hours.  If the lot is still unable to be evaluated within this period the purchaser may in their absolute discretion cancel the sale by notice in writing to the Auctioneer.
19.3        If a veterinary surgeon, so approved, is of the opinion that the Lot has any of the following conditions:-
                (i)laryngeal hemiplegia (grossly deficient abductor function of one or both Arytenoid cartilages, Grades 4 and 5 Lane Bain Fallon Proceedings 1993);
                (ii)rostral displacement of the palatopharyngeal arch;
                (iii)epiglottic entrapment;
                (iv)persistent dorsal displacement of the soft palate;
                (v)arytenoid chondritis or chondroma; or
                (vi)sub epiglottic cyst(s)
                (vii)cleft palate
                and this/these condition(s) have not been announced prior to the Lot being offered for Sale, then the purchaser may cancel the Sale by notice in writing to the Auctioneer within twenty-four hours (24) of the fall of the hammer.
19.4        Any purchaser who wishes to have a post Sale upper respiratory laryngoscopic evaluation, as above, is advised that this examination must be conducted by the veterinary surgeon, so approved, prior to the Lot being removed from the Auctioneer's complex.
19.5        The Auctioneer reserves the right to obtain a confirmatory opinion by a panel of not more than three (3) veterinary surgeons appointed by the Auctioneer before a notice of cancellation of sale is accepted by it.

20.          ATTORNEY
20.1        The Vendor and the Purchaser for the purpose of enabling the Auctioneer to give full force and effect to these Conditions, each irrevocably appoint the Auctioneer his true and lawful attorney, with full power in his name or in the name of the Auctioneer to do all such things to take all such action, to sign and execute all such documents and to give such instructions for the purposes of these Conditions as may be necessary or in the Auctioneer's opinion desirable and hereby agrees to ratify and affirm anything done by the Auctioneer as such attorney.
20.2        Without limiting clause 20.1, the Auctioneer may exercise the power of attorney so granted for the purpose of removing, waiving, or otherwise discharging any security interest purportedly granted by the Purchaser and in particular (to the extent the Purchaser is capable of doing so) removing the registration of such an interest.

21.          GOVERNING LAW AND PRIVATE SALES
21.1        Neither the Vendor nor the Purchaser may institute court proceedings (including without limitation proceedings for interlocutory relief) in relation to any dispute arising out of or relating to this agreement in any court other than a court in the State of Queensland.  The Vendor and the Purchaser equivocally submit to the jurisdiction of the courts of the State of Queensland.
21.2        These Conditions shall, in so far as possible, apply to the private Sale by the Auctioneer of any Lot entered for the Sale.
21.3        If any provision of these Conditions is or becomes unenforceable or invalid, the remaining provisions shall not be affected by but shall remain in full force and effect to the fullest extent permitted by law.

22.          X-RAYS AND REPOSITORY
22.1        Definitions 
22.1.1    "Repository" means the repository to be established by the Auctioneer/Promoter at the Complex at least four days prior to the commencement of the Auction, the conditions of entry into which and use of the services of which are set out in the Repository Conditions displayed at the Repository, the terms of which the Purchaser acknowledges having read and understood prior to the purchase of a Lot;
22.1.2    "Repository Conditions" means the conditions of entry into the Repository for the purpose of inspecting the X-rays and other terms and conditions relating to the terms and conditions of access and inspection as displayed at the Repository;
22.1.3    "X-rays" means the set of X-rays deposited at the Repository, albeit physical or digital format, (along with any reports, certificates, notes, writings or information deposited therewith) made available by the Vendor with respect to a Lot for inspection by the Purchaser's qualified licensed veterinary expert, such X-rays being in the minimum number and taken strictly in accordance with the specifications detailed in the Repository Conditions and otherwise subject to the Repository Conditions displayed at the Repository, the terms of which the Purchaser acknowledges as having read and understood prior to the purchase of a Lot.
22.2        Vendor's Acknowledgments, Obligations and Warranties
22.2.1    The Vendor acknowledges that he has been encouraged by the Auctioneer/Promoter to provide X rays with respect to each Lot offered for sale by the Vendor;
22.2.2    The Vendor must deliver the X-rays to the Auctioneer/Promoter at the Repository no later than 4.00pm four (4) days prior to the first day of the Sale.  No X-rays will be accepted by the Auctioneer/Promoter subsequent to the stated dates and times;
22.2.3    The Vendor warrants that the X-rays provided to the Auctioneer/Promoter will be certified as originals by a qualified licensed veterinary expert and will meet all the requirements set out in the Repository Conditions;
22.2.4    The Vendor warrants that he has the right to use the X-rays and irrevocably authorises the Auctioneer/Promoter to release the X-rays for inspection by prospective purchaser's qualified licensed veterinary experts prior to and during the Sale as provided in the Repository Conditions;
22.2.5    Subject to the Auctioneer's/Promoter's/Vendor's right to refuse any person, including a prospective Purchaser from inspecting the X-rays, the X-rays provided by a Vendor will be available for inspection by a Purchaser's qualified licensed veterinary expert (in the absence of written instructions from the Vendor to the contrary) at the Repository subject to the Repository Conditions;
22.2.6    The Vendor releases the Auctioneer/Promoter from any liability in the event of damage, loss or theft of the x-rays while in the possession of the Auctioneer/Promoter;
22.2.7    The Vendor warrants the quality, accuracy, validity, authenticity and completeness of the X-rays and that they comply strictly with the minimum requirements set out in the Repository Conditions;
22.2.8    The Vendor acknowledges that the Promoter/Auctioneer do not warrant the accuracy of the data contained in the X-rays and that the Promoter/Auctioneer do not review or evaluate the X-rays, and the Vendor releases them from all claims, damages, liability, actions, damages and losses whatsoever arising from the inspection of the X-rays, any defect or inaccuracy in the X-rays, and, the purchase of any Lot where a purchase followed an inspection of the X-rays;
22.2.9    The Vendor acknowledges that, once the X-rays are deposited at the Repository, the Vendor must not remove the X-rays from the Repository, nor, deposit any material or information with the X-rays.
22.3        Purchaser's Acknowledgements, Obligations and Warranties
22.3.1    The Purchaser acknowledges that his qualified licensed veterinary expert (and any other person authorised in writing by the Vendor) must register at the Repository and otherwise strictly comply with the Repository Conditions prior to and during inspection of the X-rays;
22.3.2    The Purchaser acknowledges that it is his sole responsibility to determine the quality, accuracy and completeness of the X-rays and to obtain independent advice with respect thereto from a qualified licensed veterinary expert;
22.3.3    The Purchaser acknowledges that X-rays may not be removed from the Repository or copied or reproduced in any form without the prior written consent of the owner thereof;
22.3.4    The Purchaser acknowledges that any Vendor may, in his absolute discretion, determine not to provide X-rays for a Lot, and, accordingly the Purchaser will purchase such Lot with all defects, latent and patent, and otherwise subject to the Conditions of Sale;
22.3.5    The Purchaser acknowledges and accepts the acknowledgments, obligations and warranties referred to in Condition 22.2 above and if the Purchaser alleges a breach of the Vendor's warranties, then the Purchaser and the Vendor must resolve their respective rights and liabilities and the provisions of Condition 17.3 apply;
22.3.6    The Purchaser acknowledges that he should fully inspect each Lot and the X-rays, subject to these Conditions of Sale and the Repository Conditions, along with his qualified licensed veterinary expert, prior to purchasing or attempting to purchase a Lot, and, failure to inspect or seek the said advice will be at the Purchaser's sole risk;
22.3.7    The purchaser acknowledges that once the Lot has been sold, there will be no further access to the X-rays for any purpose whatsoever.
22.3.8    The Purchaser warrants that in inspecting the X-rays that he will at all times act in a bona fide manner.
22.4        Vendor's/Purchaser's Acknowledgments and Indemnities
22.4.1    The Vendor and the Purchaser acknowledge and accept that neither the Auctioneer nor the Promoter will review the X-rays and therefore makes no warranty or assurance of any kind concerning the authenticity, quality, accuracy or completeness of the X-rays, the responsibility for which lies with the Vendor;
22.4.2    The Vendor and the Purchaser acknowledge and accept that the depositing and inspection of the X-rays, and, the use of the Repository, will not vary or amend the terms of these Conditions of Sale which shall continue to be binding upon the Vendor and the Purchaser, nor does such deposit, inspection or use create any additional express or implied warranties upon which either the Vendor or the Purchaser can rely, other than those allowed by statute or law;
22.4.3    The Vendor and the Purchaser acknowledge and accept that neither the Auctioneer nor the Promoter will be liable for any claim, damages, liability, actions, demands or losses whatsoever in the event that the X-rays are of poor quality, inaccurate, invalid or incomplete;
22.4.4    The Vendor and the Purchaser acknowledge and accept that the sale and purchase of a Lot is effected on the fall of the hammer pursuant to Condition 2 of the Conditions of Sale and, subject to the Conditions of Sale, the Purchaser purchases each Lot with all faults and defects, latent and patent.  The Vendor acknowledges and accepts that the Auctioneer will be entitled to its commission immediately upon the effecting of the sale (subject to the Conditions of Sale) and the Vendor's obligation to pay the commission will stand notwithstanding any subsequent dispute between the Vendor and the Purchaser;
22.4.5    The Vendor and the Purchaser acknowledge that the Vendor has instructed the Auctioneer/Promoter to restrict access to the X-rays, in the absence of written instructions to the contrary, to qualified licensed veterinary experts.
22.4.6    The Vendor and the Purchaser acknowledge that the X-rays remain the legal property of the Veterinarian who took them.  Subject to Condition 22.5.3, permission must be obtained by the said Veterinarian prior to removing the X-rays from the Repository.
22.5        Auctioneer's/Promoter's Acknowledgment And Obligations
22.5.1    The Auctioneer/Promoter will, at their cost, provide and make available the Repository for use by the Vendor, the Purchaser and the Purchaser's qualified licensed veterinary expert in accordance with these Conditions of Sale and the Repository Conditions;
22.5.2    The Auctioneer/Promoter will make the Repository available to receive the X-rays from the Vendor, and, make available the X-rays for inspection, in the absence of written instructions from the Vendor to the contrary, by the Purchaser's qualified licensed veterinary expert subject to these Repository Conditions and the Standard Conditions of Sale;
22.5.3    Subject to the Auctioneer's/Promoter's right to retain possession of the X-rays for whatever reason and for so long as the Auctioneer/Promoter chooses, the Auctioneer/Promoter will allow the Vendor or his nominated agent in writing, to collect the X-rays from the Repository after the expiration of forty two (42) days from the last day of the Sale;
22.5.4    The Auctioneer/Promoter has requested each Vendor of a Lot to provide X-rays of each Lot in accordance with the Repository Conditions but will not be liable for any claim, damages, liability, actions, demands or losses whatsoever, from the Vendor, Purchaser or any person or party by virtue of the fact that a Vendor elects not to provide X-rays with respect to any Lot;
22.5.5    The Vendor will, in accordance with the Repository Conditions, be entitled to inspect (or have an agent authorised in writing to inspect) a register, kept for that purpose, of any party who has inspected the X-rays of a Lot submitted by that Vendor.
23.          NO REPRESENTATION AS TO SUITABILITY FOR TRAINING OR RACING OF A LOT
The Purchaser acknowledges that the Vendor/Auctioneer/Promoter does not warrant or represent the physical condition of any Lot, or, that any Lot is suitable for being trained as a race horse, or, capable of being trained as a race horse, or, suitable or capable of competing in races or any other activities involving thoroughbred race horses, or for any purpose whatsoever.

24.          AGENCY
The Auctioneer/Promoter act as agents for Magic Millions Partnership (ABN 99 519 379 694).

25.          CONDITIONS OF NOMINATION AND REPOSITORY CONDITIONS
The Vendor acknowledges having read the Conditions of Nomination and the Repository Conditions and accepts them.  The Purchaser acknowledges having read the Repository Conditions and accepts them.  Further, the Vendor and the Purchaser will abide and be bound by all reasonable practices and business methods employed by the Auctioneer/Promoter in the conduct of their business and the Sale, and, acknowledge that these Conditions may be changed or amended from time to time in the absolute discretion of the Auctioneer/Promoter.  The Purchaser acknowledges that the Vendor has instructed the Auctioneer/Promoter, in the absence of written instructions to the contrary, to restrict access to the X-rays to qualified licensed veterinary experts, and, further acknowledge that it is the responsibility of the Purchaser to obtain written authority from the Vendor if the purchaser requires a person other than a qualified licensed veterinary expert to examine the X-rays.

26.          OCCUPATIONAL HEALTH AND SAFETY
26.1        To the extent that a vendor or purchaser or their employees or agents may conduct any activities on the auctioneer's premises then that vendor or purchaser shall be responsible, to the exclusion of the auctioneer, for establishing and observing appropriate occupational health and safety procedures, and for complying with any relevant legislation provisions, in relation to those activities.
26.2        A vendor or purchaser conducting any activities on the auctioneer's premises does so at his own risk in all respects and must indemnify the auctioneer in respect of any claims for personal injury or damage to property which may be made against the auctioneer arising out of any such activities.

27.          VENDOR'S ADDITIONAL WARRANTIES: LOT DESCRIPTION, TITLE AND POSSESSION
The Vendor warrants that:
27.1        The description, pedigree and other information in respect of the Lot is as specified in the Sale Catalogue; and
27.2        The Vendor has the right to sell the Lot and can give good title to the Lot; and
27.3        The Purchaser will obtain quiet possession on completion of the Purchaser's obligations under these Conditions.

IMPORTANT DISCLAIMERS
For the information of Purchasers, the Auctioneer and the Promoter have provided certain information on the horses catalogued for Sale.  Any information is obviously subject to constant change and revision and the Auctioneer and the Promoter, their subsidiaries, officers and agents for themselves and for those for whom they act, provide all such information without responsibility and give no guarantee nor make any representations whatsoever as to its accuracy.

Not withstanding Condition 26, all persons who attend the Sale do so entirely at their own risk and neither Magic Millions Sales Pty Limited (ABN 54 078 396 317) nor Magic Millions Promotions Pty Limited (ABN 41 088 197 200) nor their subsidiaries, officers or agents for themselves and for those whom they act, assume or accept any responsibility or liability of whatever nature for any injury or damage whatsoever which may occur to any person or property.