- 3 -
Under the terms of the ATC pay phone agreements, petitioner
paid $5,000 per pay phone to ATC, and ATC provided petitioner
with legal title to the “telephone equipment” that was
purportedly described in an attachment to the ATC pay phone
agreements, entitled “Telephone Equipment List”. The attachment,
however, did not identify any pay phones subject to the
agreements. Only identification numbers, the locations of 2 of
the 11 pay phones, and sale prices were provided. The ATC pay
phone agreements also included the following provision:
1. Bill of Sale and Delivery
a. Delivery by Seller shall be considered complete
upon delivery of the Equipment to such place(s) as are
designated by Owner.
b. Owner agrees to take delivery of Equipment
within (15) fifteen business days. If Seller has not
delivered the equipment within (90) ninety days, Owner
may terminate this Agreement upon Seller’s receipt of
signed notice from Purchaser.
c. Upon delivery, Owner shall acquire all rights,
title and interest in and to the Equipment purchased.
d. Phones have approved installation under The
American with Disabilities Act.
The “Buy Back Election” to the ATC pay phone agreements stated:
1.0. Buy Back Election: Should Owner elect to sell any
telephone equipment, itemized in Exhibit “A”, American
Telecommunications Company, Inc., (hereinafter “Seller”),
agrees to buy back such equipment from Owner, according to
the following terms and conditions: 1) If exercise of the
buy back election occurs in the first thirty-six months
after the equipment delivery date, the re-sale price shall
be the Owner’s original purchase price of $5,000.00, minus a
“restocking fee” of (10%) ten percent of the purchase price;
2) If the buy-back election is made more than (36) thirty-
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011