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Form #1057Consignment of Automobiles
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Consignment of Automobiles Free Legal Form
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Consignment of
automobiles.
This agreement made _________[Date], between
_________ motor company of _________, a corporation organized under the laws of
the state of _________, consignor, and _________, of _________, consignee,
states as follows:
1. Consignor shall deliver to consignee such
automobiles, together with all standard catalogue attachments and equipment, as
it in its judgment may see fit, and consignee shall receive and accept
possession of the automobiles on the terms and conditions subsequently stated,
and hold and care for the same as the property of consignor and return same to
consignor upon demand; it being expressly agreed that the title to the
automobiles, or to the proceeds, shall always be vested in consignor and the
automobiles shall pass directly from consignor to such person or persons to
whom the same shall be sold in the manner and upon the terms set forth here.
2. Consignor shall keep the automobiles fully insured
in its name against loss by fire and theft.
3. Consignee shall keep the automobiles in a new and
unused condition for display and storage purposes and shall not use the same
for demonstrating purposes.
4. Consignee shall sell the automobiles for cash at
the retail prices fixed by the distributor in the territory where consignee is
located and shall immediately pay over to consignor the proceeds received by
consignee from the sale of the automobiles and consignor shall return to
consignee in full for his [or her] services and expenses the difference
between the retail price so received by him [or her] for the automobiles
and the price at which the automobiles shall have been invoiced to consignee.
After having first obtained the written consent of consignor, consignee may
accept in part payment for the automobiles notes of the purchaser provided he [or
she] shall in the opinion of consignee be of good credit and business
standing which the notes shall be for an amount and shall bear interest and be
payable as prescribed by consignor. All such notes shall be made payable to
consignor and consignee shall by indorsement guarantee the payment.
5. Consignee shall keep a separate account of all
automobiles delivered to him [or her] under this agreement and of the
proceeds when sold and shall report any sale to consignor immediately after the
same is made and shall furnish to it on the first day of each month a true and
complete report for the preceding month and shall permit consignor or its
accredited representative to examine his [or her] books and the cars in
his [or her] possession at all reasonable times during business hours.
6. In the event any of the automobiles mentioned above
which have not been returned to consignor shall remain unsold at the expiration
of _________ months from the date of delivery to consignee, then consignee
shall at the option of consignor, pay to consignor in cash the price at which
the automobiles so remaining unsold shall have been invoiced to consignee.
In witness, etc.
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legal council before engaging in any action based upon content contained on this
site.
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or any other commercial use is prohibited. This includes reposting forms from this
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form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
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Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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