1.1 ACKNOWLEDGMENT AND ACCEPTANCE OF TERMS
& CONDITIONS Use of this Web site constitutes acceptance of the Dream Auctions Terms
& Conditions. You accept and agree to be bound by the Terms & Conditions,
operating rules and/or policies of Dream Auctions, published by Dream Auctions
as described below (all such Terms & Conditions, operating rules and/or
policies as they may be amended from time to time shall hereinafter be referred
to as these "Terms & Conditions"). Members may be referred to as
"Member," "User," "Buyer" when a Member is being
described as acting as a buyer in a Dream Auctions transaction, "Bidder" when a Member
is being described as bidding on an asset in order to act as a potential buyer
in a Dream Auctions transaction, and
"Seller" when a Member is acting as a seller in a Dream Auctions transaction. These Terms & Conditions
comprise the entire agreement between Member and Dream Auctions and supersede all prior agreements between the
parties, regarding the subject matter contained herein.
1.2 DESCRIPTION OF Dream Auctions SERVICES Dream Auctions acts as a venue
for Sellers to list properties and Buyers to bid on properties. Dream Auctions is not involved in the actual transactions
between Buyers and Sellers and assume no responsibility for actions made based
on information or services on Dream Auctions . In the event that any parties
using our Site, including Sellers, Buyers and Bidders, have a dispute, the
Company (including our officers, directors, agents, affiliates, and employees)
is not liable for any claims, demands and damages arising out of or in any way
connected with such disputes. The information published on the Site may include
inaccuracies or errors. While the Company strives to keep the information on
the Site accurate, complete and up-to-date, the Company can not guarantee, and
will not be responsible for any damage or loss related to the accuracy,
completeness or timeliness of the information. Such information is provided
without warranty of any kind. In no event shall the Company (and our officers,
directors, agents, affiliates, and employees) be liable for any claims, demands
and damages arising out of or in any way connected with the use of the Site,
the delay or inability to use the Site, or any information or services obtained
from the Site.
1.3 WHO CAN BID? Bidders must register with Dream Auctions as a Member and be capable of forming legally
binding relations under applicable law. The services provided by Dream Auctions
are not available to individuals under
the age of 18 years old and any other individuals who are legally prohibited
from, or otherwise incapable of, entering into binding contracts.
1.4 WHO CAN SELL? Sellers must be the rightful owners or authorized by the owners of such
property, a court of law, or through power of attorney to sell an Asset.
Sellers must produce evidence of ownership and/or authorization to sell an
Asset upon request of Dream Auctions or
a Buyer.
1.5 PROCEDURE FOR CONDUCTING AUCTIONS Assets are listed for the specified bidding periods shown on the Site
and are deemed "sold" at the close of bidding which will be set at a
time pre-determined by the Seller. Each Asset will have a description and
disclosure information on the Site, as well as any additional conditions of
sale provided by the Seller. Once bidding commences, Bidders may make a bid at
any time prior to closing of the bidding. All Assets will have a minimum bid
price disclosed on the Site. For certain Assets, the Seller may impose a
reserve price which is not disclosed on the Site. If there are no bids above
the minimum bid or reserve price (whichever is higher), then the Seller is not
obligated to sell the Asset. After bidding closes on each Asset, Dream Auctions
will send the highest Bidder and Seller
an email detailing the highest bid and contact information. In all auctions
Buyers who receive a winning bid notice are legally bound to buy the asset at
the quoted bid amount (see "Contractual Obligations of Buyers and
Sellers" below), and the Seller is legally bound to sell the asset,
pursuant to these Terms & Conditions, subject to the additional conditions
of sale specified by Seller. The Seller is obligated to contact the winning
Bidder within three (3) business days to complete the transaction (or the
Seller may engage a representative, including Dream Auctions , to contact the
winning Bidder on the Seller's behalf, pursuant to prior agreement). After
three (3) business days if the Seller is unable to contact the winning Bidder,
for whatever reason, the Seller may, in its sole discretion (a) continue to
attempt to contact the high bidder with assistance from Dream Auctions ; (b)
after contacting Dream Auctions , contact the second highest Bidder and sell
the Asset to the second highest Bidder; or (c) re-list the asset on the Site.
By selling an Asset to the next highest Bidder, neither the Seller nor Dream
Auctions is releasing any claims
he/she/it may have against the highest Bidder for non-performance. Once the
Seller contacts the winning Bidder, the Seller and winning Bidder shall
complete the settlement of the purchase and sale of the Asset pursuant to
"Settlement of Transactions" below.
1.6 SETTLEMENT OF TRANSACTIONS The settlement of a purchase and sale of an Asset following a completed
bidding process shall be conducted pursuant to this Section, unless otherwise
provided in the Seller's conditions of sale or in a written agreement executed
by the Buyer and Seller. Unless otherwise provided in the Seller's conditions
of sale or otherwise agreed upon by the Seller and Buyer in writing, final
settlement shall take place no later than seven (7) business days after Buyer
is given a Winning Bid notice.
1.7 USER NAME AND PASSWORD Once a party becomes a Member of the Site, the Member will select a user
name and a password. Members are entirely responsible for maintaining the
confidentiality of their user names and passwords. Furthermore, Members are
entirely responsible for any and all activities, which occur under a Member's
ID and password. Member agrees to immediately notify Dream Auctions of any unauthorized use of Member's ID or any
other breach of security known to Member.
1.8 CONTRACTUAL OBLIGATIONS OF BUYERS AND
SELLERS Terms & Conditions As Contract. These Terms & Conditions,
together with any additional conditions of sale provided by a Seller for a
particular Asset disclosed on the Site, comprise a contract between a Seller
and the winning Bidder in any completed auction. By bidding on an Asset a
Bidder agrees, and by listing an Asset on the Site, a Seller agrees, to be
bound by these Terms & Conditions and the Seller's conditions of sale
included in the Asset's description, so long as those conditions of sale are
not in violation of these Terms & Conditions or unlawful. In the event of
any direct conflict between these Terms & Conditions and any conditions of
sale provided by a Seller, then these Terms & Conditions shall prevail,
except that in the event of a direct conflict regarding the timing and
requirements of settlement provided in the Section entitled "Settlement of
Transactions" above, then the Seller's conditions of sale shall prevail
with respect to such provisions.
1.9 BINDING CONTRACT BETWEEN BUYER AND
SELLER A bid made by a Buyer is an offer to purchase the asset from the Seller
at the stated bid price. The bid is an irrevocable offer, subject only to
material changes in the description of an asset made after such bid is placed
by a Buyer. Buyers are required to conduct any research or due diligence of an
asset prior to making a bid (See "Other Responsibilities of
Bidders/Buyers" below). All Assets are listed and sold on an "as is"
basis. If a Buyer bids on an asset and that bid represents the highest bid for
that asset, and the highest bid is at or above the Seller's minimum and/or
reserve price (whichever is higher), the Buyer's bid is deemed accepted by the
Seller (subject to these Terms & Conditions, including the right of a Buyer
to change or retract a bid in the event of a material change in the description
of the Asset, as set forth below), except for an exceptional circumstance, such
as a typographical error. Once a Buyer's bid is accepted by the Seller, the
Buyer is obligated to purchase the asset at the price he/she/it offered and
pursuant to these Terms & Conditions and the Seller's conditions of sale.
If a Seller receives at least one bid at or above the Seller's stated minimum
price (or in the case where the Seller has set a reserve price, at or above the
reserve price), the Seller is obligated to complete the transaction with the
highest Bidder upon the completion of the bidding, unless there is an
exceptional circumstance, such as a clear typographical error or other
conditions stated in these Terms & Conditions.
1.10 CONDITIONS OF PURCHASE AND SALE All purchases and sales of Assets and use of the Site by Members shall
be conducted in compliance with applicable law. Purchases made on the Site are
entirely without recourse to Dream Auctions . All Members acknowledge and agree
that closing of all sales of Assets may be subject to final approval of a court
(including a bankruptcy court) or other agency and that if such approval is not
obtained, the Seller may withdraw such Asset after a completed bidding process
without any recourse or liability on the part of Seller.
1.11 BUYER AND SELLER CONTRACT OBLIGATIONS All Members are third party beneficiaries of these Terms &
Conditions, and Buyers and Sellers shall be entitled to enforce the provisions
hereof and may pursue legal action against each other for non-performance of
any provision hereof, including without limitation, non-performance of a
purchase and sale after a completed bidding process. In addition, Dream
Auctions retains the right to terminate
a Member's rights to use the Site in the event a Member violates these Terms
& Conditions. All Assets are listed and sold on the Site on an "as
is" basis. Bidders are required to conduct any research or due diligence
of an asset that they wish to conduct prior to making a bid. After the online
bidding is complete, unless otherwise indicated/engaged, Buyers are responsible
for taking all necessary actions to complete the sale once a Winning Bid notice
is given to Buyer. Dream Auctions retains the rights to terminate a Buyer's
rights to use the Site in the event a Buyer fails to perform its obligations to
settle on a completed auction.
1.12 OTHER RESPONSIBILITIES OF SELLERS Description of Assets. Sellers must accurately describe Assets in a
listing provided for inclusion on the Site and shall be liable for any
misstatements or omissions in such description. Failure to accurately describe
an Asset could be fraudulent and could subject a Seller to civil and/or
criminal liability, as well as being in violation of these Terms &
Conditions. Dream Auctions retains the
right to terminate a Seller's rights to use the Site in the event a Seller
includes material misstatements or omissions in an Asset's description. Prior
to listing an Asset, Sellers shall provide to Dream Auctions any terms or conditions of sale for particular
Assets in addition to these Terms & Conditions. Sellers are responsible for
complying with all applicable local, state, federal, or foreign laws, rules,
regulations and legal approvals regarding the sale of any Assets. Sellers are
also solely responsible for ensuring that all items offered for sale are
offered in full compliance with any applicable legal limitations or
restrictions.
1.13 PAYMENT OF COMMISSION TO Dream
Auctions Each Seller in a transaction for which a Winning Bid notice is issued
shall pay Dream Auctions the agreed upon
commission based on the final sales price for the asset in question. Such
amount shall be paid to Dream Auctions within thirty (30) days of invoicing by Dream
Auctions .
1.14 SUPERVISION OF CONTENT Dream Auctions reserves the right
to supervise all material, content and information on its Site, including, but
not limited to, asset listings and bidding activity, to determine compliance
with the Terms & Conditions and all current and future operating procedures
and rules of conduct established by Dream Auctions . Dream Auctions reserves the right, at its sole discretion, to
amend, edit, remove or otherwise block any material posted by a Member, which
may violate any state, federal or local law or violate any aspect of these
Terms & Conditions or which may otherwise jeopardize the business
operations or goals of Dream Auctions .
1.15 MEMBER CONDUCT Member is solely responsible for the contents of his/her/its
transmissions through the Site. Member's use of the Site is subject to all
applicable local, state, national and international laws and regulations.
Member agrees: (a) to comply with international law regarding the transmission
of technical data exported from any country through the Site; (b) not to use
the Site for illegal purposes; (c) not to interfere or disrupt networks
connected to the Site; and (d) to comply with all regulations, policies and
procedures of networks connected to the Site. Member agrees not to transmit
through the Site any unlawful, harassing, libelous, abusive, threatening,
harmful, vulgar, obscene or otherwise objectionable material of any kind or
nature. Member further agrees not to transmit any material that encourages
conduct that could constitute a criminal offense, give rise to civil liability
or otherwise violate any applicable local, state, national or international law
or regulation. Attempts to gain unauthorized access to other computer systems
are prohibited. Member further agrees not to use the Site in a manner that
violates any national, international, federal, state, local or statute laws,
including but not limited to the sale of any regulated substances.
1.16 NO RESALE OR COMMERCIAL USE OF THE
SERVICES PROVIDED ON THE SITE Member's right to use the Site is personal to Member. Member agrees not
to resell or make any commercial use of the services provided on the Site,
without the express written consent of Dream Auctions . Member acknowledges
that content appearing on the Site may be protected by copyrights, trademarks
or other proprietary or personal rights and that applicable laws will govern
the Member's use of such content. Member agrees that without the prior written
consent of Dream Auctions , Member shall not resell the Site, or the services
provided on the Site, or use the Site for the transmission of commercial
solicitations (other than an offer by Seller of Assets for sale) or for the
receipt of responses to commercial solicitations (other than a Buyer's interest
in purchasing Assets offered for sale through the Site) without the express written
consent of Dream Auctions . Member agrees not to, for a commercial purpose,
upload, transmit, reproduce, distribute or participate in the transfer or sale,
or in any way exploit, any content obtained through the Site. Member agrees not
to use the Site for the transmission of (or receipt of responses to) chain
letters, lotteries, gambling or pyramid schemes of any kind. Member agrees not
to use the Site to disseminate any message in a broad-based mailing without the
prior written permission of Dream Auctions . Member agrees not to forge
communications or take any other action that would disguise the origin of
communications Member transmits through the Site. Member agrees not to permit
another person to transmit communications that falsely identifies the Member's
account as the origin of such communication. Nothing herein shall limit or
prevent any Buyer from re-selling any Asset purchased through the Site.
1.17 LIMITATION OF LIABILITY NEITHER DREAM AUCTIONS, THEIR INTERNET
SERVICE PROVIDERS, OR THEIR INFORMATION PROVIDERS, LICENSORS, EMPLOYEES,
REPRESENTATIVES, OR AGENTS NOR ANYONE ELSE INVOLVED IN CREATING, PRODUCING OR
DELIVERING THIS SERVICE SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL,
SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES ARISING OUT OF USE OF DREAM AUCTIONS OR INABILITY TO USE DREAM AUCTIONS (INCLUDING, BUT NOT
LIMITED TO, LOSS OF PROFITS, GOODWILL OR SAVINGS, DOWNTIME, DAMAGE TO OR
REPLACEMENT OF PROGRAMS AND DATA) ARISING FROM CLAIMS BASED IN WARRANTY,
CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, (BUT
EXCLUDING CLAIMS ARISING OUT OF PERSONAL INJURY OR DEATH CAUSED BY THE
NEGLIGENCE OF DREAM AUCTIONS PROVIDERS) EVEN IF ANY SUCH PARTY HAS
BEEN ADVISED OF THE POSSIBILITY OF SUCH CLAIM OR DAMAGE. THE PROVISIONS OF THIS
AGREEMENT ARE FOR THE BENEFIT OF DREAM AUCTIONS, THEIR INTERNET
SERVICE PROVIDERS, OR THEIR INFORMATION PROVIDERS, LICENSORS, EMPLOYEES,
REPRESENTATIVES AND AGENTS AND EACH SHALL HAVE THE RIGHT TO ASSERT AND ENFORCE
SUCH PROVISION DIRECTLY ON ITS OWN BEHALF. THE PROVISIONS OF THIS PARAGRAPH AND
THE PRECEDING PARAGRAPHS WILL SURVIVE ANY TERMINATION OF THIS AGREEMENT.
