A consignment is an agreement made when goods are delivered to an agent or customer when an actual purchase has not been made, obliging the consignee to pay the consignor for the goods when sold. This consignment involves the sale of an automobile.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Oregon Consignment Agreement for the Sale of an Automobile is a legally binding contract between the owner of a vehicle (the consignor) and a consignment dealer (the consignee) in Oregon. This agreement outlines the terms and conditions under which the consignor agrees to transfer the ownership of the automobile to the consignee for the purpose of selling it on consignment. Keywords: Oregon, Consignment Agreement, Sale, Automobile, Consignor, Consignee. The Oregon Consignment Agreement for the Sale of an Automobile typically includes the following key elements: 1. Identification of the Parties: The agreement begins by identifying the consignor (owner) and consignee (dealer) involved in the transaction, along with their contact details. 2. Vehicle Description: This section provides a detailed description of the automobile being consigned, including its make, model, year, vehicle identification number (VIN), mileage, and any other relevant details to accurately identify the vehicle. 3. Exclusive Right to Sell: The agreement establishes that the consignee has the exclusive right to market and sell the consigned vehicle on behalf of the consignor during the agreed-upon period. 4. Terms and Conditions: This section outlines the duration of the consignment period, the minimum selling price (set by the consignor) at which the vehicle should be sold, any reserve price, and the commission or fee percentage that the consignee will receive upon the sale. 5. Vehicle Pricing and Adjustments: The agreement may provide provisions for adjusting the selling price if the vehicle doesn't sell within a certain timeframe, or if market conditions change during the consignment period. 6. Ownership and Title Transfer: The agreement states that the consignor retains ownership of the vehicle until it is sold, at which point the title will be transferred to the buyer. It also ensures that the consignor has a clear title without any liens or encumbrances on the vehicle. 7. Consignor Obligations: This section explains the responsibilities of the consignor, such as maintaining the vehicle in a salable condition, providing accurate information about its condition, disclosing any known defects, and keeping the appropriate insurance coverage until the automobile is sold. 8. Consignee's Obligations: The agreement outlines the responsibilities of the consignee, which typically include marketing and advertising the vehicle, keeping it secure, providing necessary upkeep, detailing, and repairs, as well as handling all negotiations and paperwork related to the sale. 9. Termination and Withdrawal: The contract specifies the conditions under which either party can terminate the agreement before the consignment period expires, as well as the procedures for returning the vehicle to the consignor or finding an alternative consignment dealer. 10. Dispute Resolution and Governing Law: The agreement may contain a clause detailing the process for resolving any disputes that may arise between the consignor and consignee, along with the choice of law to be applied (usually Oregon state law). Common types of Oregon Consignment Agreements for the Sale of an Automobile include Standard Consignment Agreement, Exclusive Consignment Agreement, and Open Consignment Agreement, each catering to unique needs and circumstances. In conclusion, the Oregon Consignment Agreement for the Sale of an Automobile is a crucial legal document that establishes the terms and conditions between the consignor and consignee for the consignment and sale of a vehicle. It protects the interests of both parties and ensures a transparent and lawful transaction.
