said machinery or materials, wherever found, without process of law, and shall not be held liable for such seizure, and the Company may, at its election, upon written notice to the Purchaser, deposited in the mails ten (10) days prior thereto, addressed to the Purchaser at his last known address, sell said machinery and materials or any part thereof, at public or private sale and at which sale it shall be optional with the Company to bid for and purchase said machinery or materials or any part thereof. The Company shall retain so much of the proceeds of such sale necessary to satisfy the balance remaining due, together with the cost of such removal and sale, and any excess shall be paid to the Purchaser. Should the proceeds of such sale not cover the balance remaining due the Company, together with the cost of removal and sale, the Purchaser shall pay the deficiency to the Company forthwith after such sale. The said machinery or materials shall be and remain strictly personal property and retain its character as such, no matter whether on permanent foundation or in what manner affixed or attached to any building or structure, or what may be the consequences of its being disturbed on such foundation, building or structure, or for what purpose the machinery or materials may be used. If the Company finds it necessary to place the balance of the purchase price due and unpaid in the hands of an attorney for collection, the Purchaser shall pay in addition to said balance remaining unpaid, ten per cent (10%) thereof for the cost of the collection thereof, whether suit is filed or not. INSURANCE. The Purchaser shall receive the machinery or materials herein specified promptly and pay all freight or other charges thereon. The Purchaser shall promptly on arrival insure such machinery or materials against loss or damage by fire in the amount remaining unpaid to the Company, in such companies satisfactory to the Company and will continue such insurance in force until the amount of such indebtedness to the Company is fully paid, loss, if any, being made payable to the Company as its interest may appear. Said policies shall be delivered to the Company at its election. Should the Purchaser fail so to do, the Company may obtain such insurance at the Purchaser's expense. In case of loss or damage by fire, such loss or damage shall have the effect of immediately assigning said insurance to the Company, whether or not taken out for its benefit. The Purchaser shall make good any loss to the Company by reason of any damage to said machinery or materials caused by fire, carelessness or other injuries. RESPONSIBILITY FOR DELAYS. The Company shall not be liable for any damage due to delay in transportation or delay in shipment caused by strikes, fires, floods, combination of labor, or other causes beyond its control and the receipt of said machinery or materials by the Purchaser shall constitute a waiver of any claim for damage due to delay. Should the Purchaser decline to receive said machinery or materials upon its arrival, the damages for delay in filling or shipping the same shall in no event exceed in amount the rental value of similar machinery or materials for the period of such delay which is agreed to be the sole measure of such damage. The Purchaser shall pay to the Company twenty (20%) per cent of the purchase price stated in this proposal as agreed liquidated damages, if before shipment, the Purchaser countermands this proposal. After shipment there can be no countermand on the part of the Purchaser. This proposal is binding when signed by the Purchaser and approved by an executive officer of the Company. This proposal is executed in duplicate and it is expressly understood that it contains all of the agreements between the parties hereto, pertaining to said machinery or materials herein specified and that there is no verbal understanding whatever between the parties hereto in reference thereto. The Company shall not be held responsible for damages of any character arising by the use of said machinery or materials either original or consequential, it being specifically agreed that the liability of the Company is specifically limited as hereinabove set forth. Respectfully submitted, ..... (Salesman National Machinery Co.) The above proposal is hereby accepted this..... 19... ...day of With the definite understanding that there are no verbal agreements or understandings changing or modifying it. NOTE.-The foregoing type of contract is on an entirely different theory than the one preceding it, and involves an entire change in sales policy. This form, quoted above, involves a definite guarantee of duty upon the part of the seller, but positively limits the seller's liability, in the event that he is unable to comply with the guarantee, to taking back the machinery and refunding the purchase price. It very strictly provides, however, that the purchaser is positively bound by an acceptance if he uses the machinery for ten days after the time specified for notice of defects, and if defects are claimed they must be stipulated in a registered communication addressed to the company immediately after the test provided for is made by the seller's engineers or immediately after the time provided for a test even if none is conducted. from date of shipment, without any deduction for Freight, Express or Exchange Charges. Deferred payments to be evidenced by negotiable notes bearing.... ..% interest per annum from date. It is agreed that title and ownership of above described property shall remain in National Machinery & Supply Co., until fully paid for. In case Purchaser does not make payment as agreed, National Machinery & Supply Co., may, at their option, remove property, wherever found, without process of law, and sell same after ten days' notice to Purchaser, applying proceeds first on balance due and any remaining after expenses of sale have been paid, to be turned over to Purchaser. Should the proceeds of such sale not cover the balance remaining due National Machinery & Supply Co., together with the cost of removal and sale, Purchaser shall pay the deficiency to National Machinery & Supply Co., forthwith after such sale. Purchaser also agrees to pay National Machinery & Supply Co., 20% of the net amount stated in this order as agreed liquidated damages in event this order is countermanded. All orders are contingent upon and subject to strikes, accidents and other causes beyond the control of National Machinery & Supply Co. It is expressly understood that there are no verbal understandings pertaining to the above. This order is taken subject to the approval of the local manager of National Machinery & Supply Co. Approved The order has been read NATIONAL MACHINERY & SUPPLY Co. by the undersigned and By.... acknowledged to be correct. 19... Signed (Purchaser sign here) CONDITIONAL CONTRACT OF SALE I. Walter Johnson, of Albany, New York, have this day received from the National Sewing Machine Company, of New York City, New York, the following described property: One National Sewing Machine No. 18768, drop cabinet,.. the value of which is hereby fixed at sixty dollars ($60.00), under the following agreement of conditional sale: |