Sale by practitioner Sample Clauses

The 'Sale by practitioner' clause authorizes an appointed practitioner, such as an insolvency administrator or liquidator, to sell assets or property belonging to an insolvent entity. In practice, this means the practitioner can transfer ownership of goods, equipment, or other assets to buyers in order to realize value for creditors. This clause ensures that the process of asset liquidation is conducted legally and efficiently, providing a clear mechanism for converting assets into funds to satisfy outstanding debts.
Sale by practitioner. 19.1. This condition 19 applies where the sale is by a practitioner either as seller or as agent of the seller. 19.2. The practitioner has been duly appointed and is empowered to sell the 19.3. Neither the practitioner nor the firm or any member of the firm to which the practitioner belongs has any personal liability in connection with the sale or the performance of the seller's obligations. The transfer is to include a declaration excluding that personal liability. 19.4. The lot is sold: ▇▇.▇.▇. ▇▇ its condition at completion; 19.4.2. for such title as the seller may have; and 19.4.3.with no title guarantee; and the buyer has no right to terminate the contract or any other remedy if information provided about the lot is inaccurate, incomplete or missing.
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Sale by practitioner. G19.1 This condition G19 applies where the sale is by a practitioner either as seller or as agent of the seller. G19.2 The practitioner has been duly appointed and is empowered to sell the lot. G19.3 Neither the practitioner nor the firm or any member of the firm to which the practitioner belongs has any personal liability in connection with the sale or the performance of the seller’s obligations. The transfer is to include a declaration excluding that personal liability. G19.4 The lot is sold: (a) in its condition at completion; (b) for such title as the seller may have; and (c) with no title guarantee; and the buyer has no right to terminate the contract or any other remedy if information provided about the lot is inaccurate, incomplete or missing.
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