You are on page 1of 5



8QSDLG6HOOHU

8QSDLG6HOOHU
$FFRUGLQJWR6HFWLRQ D RIWKH6DOHRI*RRGV$FWWKHVHOOHURIJRRGVLVGHHPHGWREHDQ8QSDLG6HOOHU
ZKHQ


7KHZKROHRIWKHSULFHKDVQRWEHHQSDLGRUWHQGHUHGDQGWKHVHOOHUKDGDQLPPHGLDWHULJKWRIDFWLRQIRUWKH
SULFH
$ELOORIH[FKDQJHRURWKHUQHJRWLDEOHLQVWUXPHQWZDVJLYHQDVSD\PHQWEXWWKHVDPHKDVEHHQGLVKRQRXUHG
XQOHVVWKLVSD\PHQWZDVDQDEVROXWHDQGQRWDFRQGLWLRQDOSD\PHQW


$Q\ SHUVRQ ZKR LV LQ D SRVLWLRQ RI D VHOOHU LV DOVR D VHOOHU DQG PD\ H[HUFLVH WKH ULJKWV FRQIHUUHG XSRQ DQ
XQSDLGVHOOHULQDERYHVDLGFLUFXPVWDQFHV)RULQVWDQFHDQDJHQWRIWKHVHOOHUWRZKRPELOORIODGLQJKDVEHHQ
HQGRUVHGLVLQWKHSRVLWLRQRIVHOOHUDQGPD\H[HUFLVHULJKWVRIXQSDLGVHOOHU



5LJKWVRIDQ8QSDLG6HOOHU
$QXQSDLGVHOOHUKDVEHHQH[SUHVVO\JLYHQWKHULJKWVDJDLQVWWKHJRRGVDVZHOODVWKHEX\HUSHUVRQDOO\ZKLFKDUH
GLVFXVVHGDVXQGHU

KWWSZZZSUHSFHQWUDOLQ6WXG\1RWHV'HWDLOVDVS["W  F  Q 





8QSDLG6HOOHU

$ULJKWVRIDQXQSDLGVHOOHUDJDLQVWWKHJRRGV7KHXQSDLGVHOOHUKDVWKHIROORZLQJULJKWVDJDLQVWWKHJRRGV
ZKHWKHUWKHSURSHUW\LQWKHJRRGVKDVSDVVHGWRWKHEX\HURUQRW
5LJKWVRIOLHQ VHFWLRQ +HKDVDULJKWRIOLHQRQWKHJRRGVIRUWKHSULFHZKLOHKHLVLQSRVVHVVLRQXQWLOWKH
SD\PHQWRUWHQGHURIWKHSULFHRIVXFKJRRGV7KHULJKWRIOLHQFDQEHH[HUFLVHGE\KLPLQWKHIROORZLQJFDVHV
RQO\
ZKHUHJRRGVKDYHEHHQVROGZLWKRXWDQ\VWLSXODWLRQRIFUHGLW
ZKHUHJRRGVKDYHEHHQVROGRQFUHGLWEXWWKHWHUPRIFUHGLWKDVH[SLUHGRU
ZKHUHWKHEX\HUEHFRPHVLQVROYHQW
+RZHYHUWKHXQSDLGVHOOHUORVHVKLVULJKWRIOLHQXQGHUWKHIROORZLQJFLUFXPVWDQFHV


:KHQKHGHOLYHUVWKHJRRGVWRDFDUULHURURWKHUEDLOHHIRUWKHSXUSRVHRIWUDQVPLVVLRQWRWKHEX\HUZLWKRXW
UHVHUYLQJWKHULJKWRIGLVSRVDORIWKHJRRGV
:KHUHWKHEX\HURUKLVDJHQWODZIXOO\REWDLQVSRVVHVVLRQRIWKHJRRGV
:KHUHVHOOHUKDVZDLYHGWKHULJKWRIOLHQ
%\(VWRSSHOLHZKHUHWKHVHOOHUVRFRQGXFWVKLPVHOIWKDWKHOHDGVWKLUGSDUWLHVWREHOLHYHWKDWWKHOLHQGRHVQRW
H[LVW


5LJKWRIVWRSSDJHLQWUDQVLW:KHQWKHXQSDLGVHOOHUKDVSDUWHGZLWKWKHJRRGVWRDFDUULHUDQGWKHEX\HUKDV
EHFRPHLQVROYHQWKHFDQH[HUFLVHWKLVULJKWRIDVNLQJWKHFDUULHUWRUHWXUQWKHJRRGVEDFNRUQRWWRGHOLYHUWKH
JRRGVWRWKHEX\HU
+RZHYHUWKHULJKWRIVWRSSDJHLQWUDQVLWLVH[HUFLVHGRQO\ZKHQWKHIROORZLQJFRQGLWLRQVDUHIXOILOOHG
7KHVHOOHUPXVWEHXQSDLG
+HPXVWKDYHSDUWHGZLWKWKHSRVVHVVLRQRIJRRGV
7KHJRRGVDUHLQWUDQVLW
7KHEX\HUKDVEHFRPHLQVROYHQW
7KHULJKWLVVXEMHFWWRSURYLVLRQVRIWKH$FW


5LJKWRIUHVDOH7KHXQSDLGVHOOHUFDQH[HUFLVHWKHULJKWWRUHVHOOWKHJRRGVXQGHUWKHIROORZLQJFRQGLWLRQV
:KHUHWKHJRRGVDUHRIDSHULVKDEOHQDWXUH,QVXFKDFDVHWKHEX\HUQHHGQRWEHLQIRUPHGRIWKHLQWHQWLRQRI
UHVDOH
:KHUHKHJLYHVQRWLFHWRWKHEX\HURIKLVLQWHQWLRQWRUHVHOOWKHJRRGVDQGWKHEX\HUGRHVQRWZLWKLQD
UHDVRQDEOHWLPHSD\RUWHQGHUWKHSULFH


5LJKWVRIXQSDLGVHOOHUDJDLQVWWKHEX\HU VHFWLRQ $QXQSDLGVHOOHUFDQHQIRUFHFHUWDLQULJKWVDJDLQVWWKH
JRRGVDVZHOODVDJDLQVWWKHEX\HUSHUVRQDOO\7KLVULJKWVRIXQSDLGVHOOHUDJDLQVWWKHEX\HULVRWKHUZLVHNQRZQ
DVVHOOHUVUHPHGLHVIRUEUHDFKRIFRQWUDFWRIVDOH7KHULJKWVRIWKHVHOOHUDJDLQVWWKHEX\HUSHUVRQDOO\DUHFDOOHG
ULJKWVLQSHUVRQDPDQGDUHLQDGGLWLRQWRKLVULJKWVDJDLQVWWKHJRRGV7KHULJKWLQSHUVRQDPDUHDVIROORZV


6XLWIRUSULFH VHFWLRQ
KWWSZZZSUHSFHQWUDOLQ6WXG\1RWHV'HWDLOVDVS["W  F  Q 





8QSDLG6HOOHU

:KHUHSURSHUW\KDVSDVVHGWRWKHEX\HUDQGKHZURQJIXOO\QHJOHFWVRUUHIXVHVWRSD\IRUWKHJRRGVWKHVHOOHU
PD\VXHKLPIRUWKHSULFHRIWKHJRRGV>6HFWLRQ  @
:KHUHSURSHUW\KDVQRWSDVVHGXQGHUWKHFRQWUDFWRIVDOHDQGWKHSULFHLVSD\DEOHRQDFHUWDLQGD\
LUUHVSHFWLYHRIGHOLYHU\DQGWKHEX\HUZURQJIXOO\QHJOHFWVRUUHIXVHVWRSD\VXFKSULFHWKHVHOOHUPD\VXHKLPIRU
WKHSULFHDOWKRXJKWKHSURSHUW\LQWKHJRRGVKDVQRWSDVVHGDQGWKHJRRGVKDYHQRWEHHQDSSURSULDWHGWRWKH
FRQWUDFW>6HFWLRQ  @


6XLWIRUGDPDJHVIRUQRQDFFHSWDQFH VHFWLRQ :KHUHWKHEX\HUZURQJIXOO\QHJOHFWVRUUHIXVHVWRDFFHSW
DQGSD\IRUWKHJRRGVWKHVHOOHUPD\VXHKLPIRUGDPDJHVIRUQRQDFFHSWDQFH$VUHJDUGVPHDVXUHRI
GDPDJHV6HFWLRQRIWKH,QGLDQ&RQWUDFW$FWDSSOLHV


5HSXGLDWLRQRIFRQWUDFWEHIRUHGXHGDWH VHFWLRQ :KHUHWKHEX\HUUHSXGLDWHVWKHFRQWUDFWEHIRUHWKH
GDWHRIGHOLYHU\WKHVHOOHUPD\WUHDWWKHFRQWUDFWDVUHVFLQGHGDQGVXHGDPDJHVIRUWKHEUHDFK7KLVLVNQRZQ
DVWKHUXOHRIDQWLFLSDWRU\EUHDFKFRQWUDFW


6XLWIRULQWHUHVW>VHFWLRQ  G @:KHUHWKHUHLVVSHFLILFDJUHHPHQWEHWZHHQWKHVHOOHUDQGWKHEX\HUDVWR
LQWHUHVWRQWKHSULFHRIWKHJRRGVIURPWKHGDWHRQZKLFKSD\PHQWEHFRPHVGXHWKHVHOOHUPD\UHFRYHULQWHUHVW
IURPWKHEX\HU,IKRZHYHUWKHUHLVQRVSHFLILFDJUHHPHQWWRWKLVHIIHFWWKHVHOOHUPD\FKDUJHLQWHUHVWRQWKH
SULFHZKHQLWEHFRPHVGXHIURPVXFKGD\DVKHPD\QRWLI\WRWKHEX\HU
,QWKHDEVHQFHRIDFRQWUDFWWRWKHFRQWUDU\WKH&RXUWPD\DZDUGLQWHUHVWWRWKHVHOOHULQDVXLWE\KLPDWVXFK
UDWHDVLWWKLQNVLWRQWKHDPRXQWRIWKHSULFHIURPWKHGDWHRIWKHWHQGHURIWKHJRRGVRUIURPWKHGDWHRQZKLFK
WKHSULFHZDVSD\DEOH>6HFWLRQ  D @



'LVWLQFWLRQ%HWZHHQ5LJKWRI/LHQDQG5LJKWRI6WRSSDJHLQ7UDQVLW
7KHHVVHQFHRIDULJKWRIOLHQLVWRUHWDLQSRVVHVVLRQZKHUHDVWKHULJKWRIVWRSSDJHLQWUDQVLWLVULJKWWRUHJDLQ
SRVVHVVLRQ
6HOOHUVKRXOGEHLQSRVVHVVLRQRIJRRGVXQGHUOLHQZKLOHLQVWRSSDJHLQWUDQVLW
VHOOHUVKRXOGKDYHSDUWHGZLWKWKHSRVVHVVLRQ
SRVVHVVLRQVKRXOGEHZLWKDFDUULHU
EX\HUKDVQRWDFTXLUHGWKHSRVVHVVLRQ
5LJKWRIOLHQFDQEHH[HUFLVHGHYHQZKHQWKHEX\HULVQRWLQVROYHQWEXWLWLVQRWWKHFDVHZLWKULJKWRIVWRSSDJHLQ
WUDQVLW
5LJKWRIVWRSSDJHLQWUDQVLWEHJLQVZKHQWKHULJKWRIOLHQHQGV7KXVWKHHQGRIWKHULJKWRIOLHQLVWKHVWDUWLQJ
SRLQWRIWKHULJKWRIVWRSSDJHLQWUDQVLW


(IIHFWVRIVXEVDOHRUSOHGJHE\EX\HU VHFWLRQ 7KHULJKWRIOLHQRUVWRSSDJHLQWUDQVLWLVQRWDIIHFWHGE\WKH
EX\HU VHOOLQJ RU SOHGJLQJ WKH JRRGV XQOHVV WKH VHOOHU KDV DVVHQWHG WR LW 7KLV LV EDVHG RQ WKH SULQFLSOH WKDW D
VHFRQGEX\HUFDQQRWVWDQGLQDEHWWHUSRVLWLRQWKDQKLVVHOOHU WKHILUVWEX\HU 


KWWSZZZSUHSFHQWUDOLQ6WXG\1RWHV'HWDLOVDVS["W  F  Q 





8QSDLG6HOOHU

7KH ULJKW RI VWRSSDJH LV GHIHDWHG LI WKH EX\HU KDV WUDQVIHUUHG WKH GRFXPHQW RI WLWOH RU SOHGJHV WKH JRRGV WR D
VXEEX\HULQDJRRGIDLWKDQGIRUFRQVLGHUDWLRQ


([FHSWLRQV


:KHQWKHVHOOHUKDVDVVHQWHGWRWKHVDOH0RUWJDJHRURWKHUGLVSRVLWLRQRIWKHJRRGVPDGHE\WKHEX\HU
:KHQDGRFXPHQWRIWLWOHWRJRRGVKDVEHHQWUDQVIHUUHGWRWKHEX\HUDQGWKHEX\HUWUDQVIHUVWKHGRFXPHQWVWRD
SHUVRQZKRKDVERXJKWDJRRGVLQJRRGIDLWKDQGIRUYDOXH



5HPHGLHVRI%X\HUDJDLQVWWKH6HOOHU
,IWKHVHOOHUFRPPLWVDEUHDFKRIFRQWUDFWWKHEX\HUJHWVWKHIROORZLQJULJKWVDJDLQVWWKHVHOOHU


'DPDJHVIRUQRQGHOLYHU\:KHUHWKHVHOOHUZURQJIXOO\QHJOHFWVRUUHIXVHVWRGHOLYHUWKHJRRGVWRWKHEX\HU
WKHEX\HUPD\VXHWKHVHOOHUIRUGDPDJHVIRUQRQGHOLYHU\


6XLWIRUVSHFLILFSHUIRUPDQFH:KHUHWKHVHOOHUFRPPLWVRIEUHDFKRIWKHFRQWUDFWRIVDOHWKHEX\HUFDQ
DSSHDOWRWKHFRXUWIRUVSHFLILFSHUIRUPDQFH7KHFRXUWFDQRUGHUIRUVSHFLILFSHUIRUPDQFHRQO\ZKHQ
WKHJRRGVDUHDVFHUWDLQHGRUVSHFLILF
WKHGDPDJHVDUHLQVXIILFLHQWRU
WKHJRRGVDUHXQLTXHDQGFRVWO\


6XLWIRUEUHDFKRIZDUUDQW\:KHUHWKHUHLVEUHDFKRIZDUUDQW\RQWKHSDUWRIWKHVHOOHURUZKHUHWKHEX\HU
HOHFWVWRWUHDWEUHDFKRIFRQGLWLRQDVEUHDFKRIZDUUDQW\WKHEX\HULVQRWHQWLWOHGWRUHMHFWWKHJRRGVRQO\RQWKH
EDVHVRIVXFKEUHDFKRIZDUUDQW\%XWKHPD\
VHWXSDJDLQVWWKHVHOOHUWKHEUHDFKRIZDUUDQW\LQGLPLQXWLRQRUH[WLQFWLRQRIWKHSULFHRU
VXHWKHVHOOHUIRUGDPDJHVIRUEUHDFKRIZDUUDQW\


6XLWIRUGDPDJHVIRUUHSXGLDWLRQRIFRQWUDFWE\WKHVHOOHUEHIRUHWKHGXHGDWH7KHEX\HUPD\WUHDWWKH
FRQWUDFWDVVXEVLVWLQJDQGZDLWIRUWKHGDWHRIGHOLYHU\RUKHPD\WUHDWWKHFRQWUDFWDVUHSXGLDWHGDQGVXHIRU
GDPDJHVIRUEUHDFK


6XLWIRULQWHUHVW7KHEX\HULVHQWLWOHGWRUHFRYHULQWHUHVWRUVSHFLDOGDPDJHVWRUHFRYHUWKHPRQH\SDLGZKHUH
LQFRQVLGHUDWLRQIRUWKHSD\PHQWRILWKDVIDLOHG



$XFWLRQVDOH
$Q $XFWLRQ 6DOH LV D PRGH RI VHOOLQJ SURSHUW\ E\ LQYLWLQJ ELGV SXEOLFO\ DQG WKH SURSHUW\ LV VROG WR WKH KLJKHVW
ELGGHU $Q DXFWLRQHHU LV DQ DJHQW JRYHUQHG E\ WKH /DZ RI $JHQF\ :KHQ KH VHOOV KH LV RQO\ WKH DJHQW RI WKH
VHOOHU +H PD\ KRZHYHU VHOO KLV RZQ SURSHUW\ DV WKH SULQFLSDO DQG QHHG QRW GLVFORVH WKH IDFW WKDW KH LV VR
VHOOLQJ
KWWSZZZSUHSFHQWUDOLQ6WXG\1RWHV'HWDLOVDVS["W  F  Q 





8QSDLG6HOOHU


8QGHU6HFWLRQRIWKH6DOHRI*RRGV$FWLQWKHFDVHRIDQDXFWLRQ
:KHUHJRRGVDUHVROGLQORWV:KHUHJRRGVDUHSXWIRUVDOHLQORWHDFKORWLVSULPDIDFLHGHHPHGWREHVXEMHFW
PDWWHURIDVHSDUDWHFRQWUDFWRIVDOH
&RPSOHWLRQRIWKHFRQWUDFWRIVDOH7KHVDOHLVFRPSOHWHZKHQWKHDXFWLRQHHUDQQRXQFHVLWVFRPSOHWLRQE\WKH
IDOORIKDPPHURULQDQ\RWKHUFXVWRPDU\PDQQHUDQGXQWLOVXFKDQQRXQFHPHQWLVPDGHDQ\ELGGHUPD\UHWUDFW
IURPKLVELG
5LJKWWRELGPD\EHUHVHUYHG5LJKWWRELGPD\EHUHVHUYHGH[SUHVVO\E\RURQEHKDOIRIWKHVHOOHUDQGZKHUH
VXFKDULJKWLVH[SUHVVO\UHVHUYHGEXWQRWRWKHUZLVHWKHVHOOHURUDQ\RQHSHUVRQRQKLVEHKDOIPD\ELGDWWKH
DXFWLRQ
:KHUHWKHVDOHLVQRWQRWLILHGE\WKHVHOOHU:KHUHWKHVDOHLIQRWQRWLILHGWREHVXEMHFWWRWKHULJKWRIWKHVHOOHUWR
ELGLWVKDOOQRWEHODZIXOIRUWKHVHOOHUWRELGKLPVHOIRUWRHPSOR\DQ\SHUVRQWRELGDWVXFKVDOHRUIRUWKH
DXFWLRQHHUNQRZLQJO\WRWDNHDQ\ELGIURPWKHVHOOHURUDQ\SHUVRQUHSUHVHQWLQJKLP$Q\VDOHFRQWUDYHQLQJWKLV
UXOHPD\EHWUHDWHGDVIUDXGXOHQWE\WKHEX\HU
5HVHUYHGSULFH7KHVDOHPD\EHQRWLILHGWREHVXEMHFWWRDUHVHUYHRUXSVHWSULFHDQG
3UHWHQGHGELGGLQJ,IWKHVHOOHUPDNHVXVHRISUHWHQGHGELGGLQJWRUDLVHWKHSULFHWKHVDOHLIYRLGDEOHDWWKH
RSWLRQRIWKHEX\HU

KWWSZZZSUHSFHQWUDOLQ6WXG\1RWHV'HWDLOVDVS["W  F  Q 



You might also like