Lowland Commercial Case Summary

567 Words3 Pages
This Consignment agreement is being made between Highland Commercial Consignment 2601 S. Highland Drive Las Vegas, NV 89109 and (hereby referred to as consignor) effective as of .

1. Consignor has turned over the goods described below, which shall remain property of the consignor until such time as they are sold: Refer to Consignment Inventory Sheet.

2. Highland Commercial Consignment operates an online retail store or other sales outlet and agrees to make his/her best effort to sell consignor’s goods.

3. Highland Commercial Consignment agrees to return to consignor, upon demand, any unsold merchandise. The goods must be returned in the same or similar condition, unless this is impossible due to shopper damage or theft.

4. Highland Commercial Consignment, at his/her own discretion, may opt to
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Highland Commercial will be entitled to a Commission according to this scale:
Item Sale Price Less than or Equal to $499- 20% of the Gross Sale Price
Item Sale Price Greater than or Equal to $500 - 15% of the Gross Sale Price

7. After Highland Commercial has possessed items for 45 days without sale, the consignor may opt to renew or change the terms. If the consignor chooses not to renew the terms, the goods may be picked up at that time.

8. Damage to or loss of property will be insured by Highland Commercial Consignment. Coverage begins when Highland Commercial Consignment takes possession. Minor damage (such as nicks), or atmospheric damage will not be insured by Highland Commercial Consignment. Insurance coverage will be equal to the amount of a low auction estimate. Please note: Property is not insured for replacement value.

9. This contract will continue in force until notice to cancel is given by either party.

10. Highland Commercial Consignment will mail the sales proceeds to the consignor, net of all commissions and costs, within 30 business days after the sale, together with a full accounting
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