I understand and agree that these terms and conditions will apply to all purchases of livestock at this market and other LMA member markets, unless otherwise expressly stated. I understand and agree that I will be financially responsible for the livestock that I buy, whether for myself or as an agent for someone else. Except for sales where livestock are to be delivered at a later date, accounts must be paid at the time of purchase and persons subject to Packers & Stockyards Act must pay by no later than the close of the next business day following the day of purchase and coordinates with 7 UCS 228b. Sales are on a cash basis. In transactions where livestock are to be delivered at a later date, payment shall be in accordance with the contract. If purchases are not paid as specified, I will pay interest at the rate of ______ percent per annum (six percent if left blank) or highest rate allowed by law, whichever is lower, until the full amount of the purchase price is paid in full. If the Market takes legal action to collect my account and prevails, Market and its successors and assigns shall be entitled to reasonable attorney’s fees and court costs.
I UNDERSTAND AND AGREE THAT THERE ARE NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE ON LIVESTOCK SOLD AT THIS MARKET.
I hereby grant the Market a security interest in all livestock that I purchased at the Market, as well as all proceeds therefrom, until the Market received final payment, and authorized the Market authenticate and file any and all documents that are needed to perfect and give notice of the Market’s interests in such livestock. I acknowledge and agree that the Market has the right to assign any security interest that it obtains.