Loading Spinner
Don’t miss out on items like this!

Sign up to get notified when similar items are available.

Lot 2131: Joseph Whalen (1927-) City Watercolor

Est: $400 USD - $600 USDSold:
J Levine Auction & Appraisal LLCScottsdale, AZ, USMarch 25, 2016

Item Overview

Description

Artist: Joseph Whalen (1927-); Title: Untitled; Medium: Watercolor painting on paper; Year or Era Produced: 20th / 21st Century; Signature: Lower right; Sight Area Approximate Measurement: 19.5" x 29.5"; Frame Approximate Measurement: 28.25" x 38" x 1.25"; Approximate Weight: 13 lbs; Frame: Framed and matted beneath glass

Artist or Maker

Payment & Shipping

Payment

Accepted forms of payment: American Express, Discover, MasterCard, Visa

Shipping

We've Partnered with Pak Mail Crate & Freight for all of your auction shipping needs. They offer FedEx, DHL, UPS and USPS services for most parcels. For those larger items, Packing, Shipping, Crating & Freight services are available. With Online tracking services & Free estimates. They can be reached directly for questions and quotes at 602-971-2300.

Pak Mail's hours of operations are as follows: Mon-Fri 9am - 6pm, Saturday 10am - 2pm, Closed on Sundays.

Note: We no longer provide in-house shipping, but are happy to meet with your 3rd party shipper of choice if you prefer to use a shipper other than Pak Mail.

Once items have been paid in full, items must be turned over to third party shipper. Winning bidder must contact shipping company for payment & details post-auction and to arrange for items to be picked up. J. Levine auction & appraisal is not responsible for damage to any items once items have been turned over to shipping company. All costs associated with shipping are the responsibility of buyer.

Winning bidders MUST make proper arrangements to have their items removed by a 3rd party shipper within two weeks from the date of sale. Failure to do so will result in the automatic shipment of items to address on file with an additional surcharge. The credit card listed on file will be charged prior to automatic shipment.

Auction Details

Day 2 - March 2016 European & Western Fine Art, Sculpture & More

by
J Levine Auction & Appraisal LLC
March 25, 2016, 11:00 AM PST

10345 North Scottsdale Rd., Scottsdale, AZ, 85253, US

Terms

Buyer's Premium

20.0%

Bidding Increments

From:To:Increment:
$0$99$5
$100$199$10
$200$499$25
$500$999$50
$1,000$1,999$100
$2,000$4,999$250
$5,000$9,999$500
$10,000$19,999$1,000
$20,000$49,999$2,500
$50,000$99,999$5,000
$100,000$999,999$10,000
$1,000,000+$100,000

Terms & Conditions

1. A buyer's premium of 20% of the hammer price shall be added to each purchase to reach the total sales price.

2. Acceptable forms of payment are American Express, Visa, MasterCard, & Discover. No personal checks will be accepted unless previous arrangements have been made.

3. Complete payment is required day of auction (if bidding live at the auction gallery) or upon receipt of notification of a successful bid (if bidding as absentee, phone or online bidder). All online bidders will have the card on file charged the following day, unless prior communication has been made. Items not paid for after the 3rd day of sale are deemed noncollectable and bidder is marked as a non-paying bidder.

4. Paid items must be removed from the auction gallery. Please note that online purchasers who wish to pick up their items shall not do so until the day following the day of auction, so that our staff has adequate time to process the transaction. After three (3) days, any items remaining at the auction center will be placed in storage. Fee for storage will be $10 per day per item starting the third business day after the auction.

5. We've Partnered with Pak Mail Crate & Freight for all of your auction shipping needs. They offer FedEx, DHL, UPS and USPS services for most parcels. For those larger items, Packing, Shipping, Crating & Freight services are available. With Online tracking services & Free online estimates. They can be reached directly for questions and quotes at 602-971-2300.

Pak Mail's hours of operations are as follows: Mon-Fri 9am - 6pm, Saturday 10am - 2pm, Closed on Sundays.

Note: We no longer provide in-house shipping, but are happy to meet with your 3rd party shipper of choice if you prefer to use a shipper other than Pak Mail.

Once items have been paid in full, items must be turned over to third party shipper. Winning bidder must contact shipping company for payment & details post-auction and to arrange for items to be picked up. J. Levine auction & appraisal is not responsible for damage to any items once items have been turned over to shipping company. All costs associated with shipping are the responsibility of buyer.

Winning bidders MUST make proper arrangements to have their items removed by a 3rd party shipper within two weeks from the date of sale. Failure to do so will result in the automatic shipment of items to address on file with an additional surcharge. The credit card listed on file will be charged prior to automatic shipment.

6. The highest bidder shall be the buyer and if any dispute arises between two or more bidders, the auctioneer will decide the buyer or immediately put the item up for sale again.

7. In the event of a tie between an online bidder and a floor bidder, the floor bid will take precedence. The auctioneer's decision will be binding and final.

8. The record of sale, kept by the auctioneer and clerk, will be taken as absolute and final in all disputes.

9. Some lots are offered subject to a reserve. A reserve is a confidential minimum price below which such a lot will not be sold.

10. J Levine Auction & Appraisal will not be held responsible for error or failure to execute bid(s). Absentee bids must be in writing and a fifty-dollar minimum bid is required per item. Phone bidding is an available service and must be arranged in advance with our staff. We suggest that phone bid arrangements be made 24 hours before the start of the auction in order to ensure adequate processing time.

11. All auction inquiries and condition reports must be received 24 hours prior to the start of the auction. The deadline for email inquiries is 8 pm EST the day prior to the scheduled auction.

12. Purchasers may inspect the merchandise and are urged to do so. The Auctioneer makes no warranty as to condition and shall not be responsible for any defects in any Lot. All goods are exposed for Public Exhibition and, for Internet buyer's condition is described in the listings. Item descriptions, dimensions and estimates are provided for guidance. It is the buyer's responsibility to inspect all lots prior to bidding to ensure that the condition is to their satisfaction. If potential buyers are unable to inspect lots in person, our staff will be happy to prepare detailed Condition Reports on individual lots. These are for guidance only, and all lots will be sold as described, as per our Terms and Conditions of Sale. All goods are sold "AS IS" and "WITHOUT RECOURSE".

13. We have tried to describe each lot as accurately as possible, and we have included descriptive photographs as well. However, we are selling each lot "AS IS" and there will be no returns allowed if you are not satisfied with condition. Please satisfy yourself as to the condition of the item before bidding.

14. Your bidding at this Auction indicates that you have read and accept these Terms & Conditions of Sale.

15. If a dispute occurs on the description of an item purchased, buyer is responsible for contacting a licensed appraiser in their region, who will provide a written statement in regards to the piece disputed. This statement may either be emailed or faxed to us. J Levine Auction is not responsible for any fees incurred during this process. Disputes are considered on a case-by-case basis as we are an "As Is, Where Is" auction.

***WE ARE NOT RESPONSIBLE FOR VARIATIONS IN COLOR DUE TO PHOTO REPRODUCTION.

Should internet bidding fail for any reason, please contact 480-496-2212, to enact an absentee or telephone bid. We will do our best to accommodate you at the live auction.

Contract Information

This Bidder Agreement ("Agreement") is entered into between the person bidding on the online format (referred to herein as either "Bidder" or "Buyer") and J. Levine Auction & Appraisal, LLC, an Arizona limited liability company, or its assignee ("Auctioneer"), (together, Bidder/Buyer and Auctioneer are referred to herein as the "Parties"). Bidder agrees to be bound by the terms of this Agreement with respect to all sales and auctions conducted by Auctioneer. Bidder acknowledges that additional terms to this Agreement may be posted and/or announced from the auction block and such additional terms are deemed incorporated into this Agreement by this reference and are binding on Bidder.
1. FULL PAYMENT: The price paid by Bidder as a buyer at an auction shall be the sum of (a) Bidder's final bid, (b) a premium of 15% of the final bid on each item if the Bidder participates in the action in person or 20% of the final bid on each item if the Bidder participates in the auction via the internet or telephone, and (c) all applicable sales tax. All purchases must be paid in full before Bidder leaves the premises or disconnects from Bidder's internet or telephone connection, as applicable. The Parties agree, and Buyer consents, that Auctioneer has a lien on all items purchased by Buyer at auction as security for payments due under this Agreement and is authorized to file and record any and all documents and instruments necessary to effectuate and/or perfect such lien, including, but not limited to, a "UCC-1 Financial Statement" form under Arizona's statutory counterparts to the Uniform Commercial Code. No item may be removed from the premises until Auctioneer receives full payment of all amounts due hereunder. Payment for all purchases must be made in cash or, if pre-approved, by credit card or check. All out of state checks will require a 7-10 day holding period to ensure that the payment clears. Letters of credit or guarantees must be given for each specific auction only, along with proof of identity. Bidder agrees not to stop payment on any check and not to dispute a credit card charge made in accordance with this Agreement. Bidder is responsible for all expenses incurred for the processing and collection of a check that is returned for insufficient funds and for all expenses incurred for any charges that are reversed by a credit card company. In the event Bidder stops or places a hold on any payment made pursuant to this Agreement, Auctioneer reserves the right to repossess the items purchased thereby, at any time.
2. NO WARRANTY: ALL ITEMS SOLD AT AUCTION ARE SOLD ON BEHALF OF THE SELLER AND ARE SOLD AS IS, WHERE IS, WITH ALL FAULTS, WITHOUT WARRANTY OF ANY KIND OR NATURE AND ARE NOT SUBJECT TO RETURN. NO STATEMENT (ORAL OR WRITTEN) IN ANY BROCHURE OR CATALOG (ONLINE OR IN PRINT) BY AUCTIONEER OR BY SELLER (OR BY THEIR RESPECTIVE AGENTS), AT THE SALE OR AT ANY TIME SHALL BE CONSTRUED AS A WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. STATEMENTS MADE REGARDING ANY ITEM ARE STATEMENTS OF OPINION ONLY. ALL ITEMS ARE AVAILABLE FOR PHYSICAL INSPECTION PRIOR TO SALE, AND BIDDER IS ENCOURAGED TO INSPECT ITEMS PRIOR TO BIDDING. Bidder hereby represents that Bidder will have examined all items on which it intends to place a bid prior to the commencement of the sale and will accept any item won at auction AS IS, WHERE IS, WITH ALL FAULTS, AND WITHOUT WARRANTY. Auctioneer reserves the absolute right to withdraw any item at any time before its actual final sale, including during bidding. Auctioneer at its discretion reserves the right to refuse any bid from any bidder and not to recognize a bidder.
3. DISPUTES: The highest bidder acknowledged by Auctioneer shall be deemed the buyer of the item auctioned. If a dispute arises between two or more bidders, the Auctioneer reserves the right and the discretion either to determine the successful bidder or to re-offer and resell the item in dispute. The Auctioneer's designation of a buyer shall be final. If Auctioneer fails to deliver an awarded item for reasons set forth in this paragraph, then Auctioneer will only reimburse the amount paid for such awarded item. If any dispute arises after the sale, Auctioneer's sales records shall be conclusive as to the buyer, the amount of the highest bid, and in all other respects.
4. BUYER'S RESPONSIBILITY: Subject to the provisions of Section 3, a sale by auction is complete when the Auctioneer so announces by the fall of the hammer or, if a hammer is not available, by saying "Sold"; at such time, title to the offered item passes to the highest acknowledged bidder, who thereupon immediately assumes full responsibility and all risks of loss and damage therefore, and who will immediately pay the full purchase price therefore. Buyers should guard their items accordingly. Under no circumstances is 5. 5. REMOVAL OF ITEMS: All items must be completely removed from the premises by Buyer at Buyer's sole expense without exception within five calendar days following the sale of such items. Expenses incurred by Auctioneer for cleanup, removal of debris, and/or removal of Buyer's items from and after the expiration of the five calendar day period will be billed to the Buyer and Buyer hereby agrees to pay Auctioneer for such expenses. Buyer will make every effort not to damage another person's items and property while removing Buyer's items. In addition to any expenses incurred by Auctioneer for cleanup or removal, Buyer will be subject to a $10.00 storage fee per item per day on items not removed within the five calendar day period. Any item not removed within five (5) calendar days following the sale of the item will be deemed abandoned. Auctioneer, at its sole discretion, may sell or store the item at the expense of Buyer. If Auctioneer sells the abandoned item, then Auctioneer will send the proceeds of such sale, after deducting all expenses, storage fees, and a 35% consignment fee, to Buyer.
6. ASSIGNMENT. Any right of Buyer under this Agreement or under the law shall not be assignable and shall be enforceable only by Buyer. Buyer shall not be entitled to any remedy, relief or damages beyond the rescission of the sale, return of the item and refund of the purchase price; and without limitation, Buyer shall not be entitled to damages of any kind.
7. INJURY; DAMAGE; HOLD HARMLESS: Bidder acknowledges responsibility for any personal injury or property damage caused by bidder or bidder's agents, and further agrees to hold harmless Auctioneer and the seller, and their respective agents, employees and representatives for and from (a) any and all personal injury to bidder and bidder's agents, (b) any property damage occurring at the auction premises, and any and all suits, claims, damages, costs and expenses of every kind and nature which may or might be asserted against any of them as a result of the actions or omissions of bidder and/or bidder's agents.
8. GOVERNING LAW; JURISDICTION. Bidder hereby acknowledges that Auctioneer is an Arizona company with its principal place of business in the State of Arizona. BIDDER EXPRESSLY AGREES THAT THIS AGREEMENT SHALL BE CONSTRUED UNDER THE SUBSTANTIVE LAWS OF THE STATE OF ARIZONA, THAT THE STATE COURTS OF ARIZONA SHALL HAVE EXCLUSIVE JURISDICTION OVER ANY ACTION BROUGHT TO ENFORCE THE TERMS OF THIS AGREEMENT AND OVER ANY ACTION ARISING OUT OF THE UNDERLYING TRANSACTION(S) WITH AUCTIONEER. VENUE IS IN THE MARICOPA COUNTY SUPERIOR COURT SYSTEM OF THE STATE OF ARIZONA.
9. AMENDMENTS AND INTEGRATION. No waiver or alteration of any provisions of this Agreement shall be effective unless it is in writing and signed by an authorized representative of Auctioneer or unless it is publicly announced by Auctioneer from the auction block prior to sale. Any prior oral or written representations or agreements between the Parties are superseded by this Agreement.
10. SEVERABILITY. If any provision of this Agreement shall be or shall become illegal, invalid, or unenforceable, in whole or in part, for any reason, the remaining provisions of this Agreement shall not be affected thereby but shall be deemed valid, binding and enforceable to the greatest extent permitted by law.
11. RIGHTS AND REMEDIES CUMULATIVE. The rights and remedies of Auctioneer under this Agreement are cumulative and the use of any one right or remedy shall not preclude or waive the right to use any or all other remedies Auctioneer may have by law, statute, ordinance or otherwise.
12. AGENT: Bidder hereby acknowledges that Auctioneer is acting only as the seller's agent and NOT the agent of Bidder.

Payment Information

Acceptable forms of payment are American Express, Visa, MasterCard, & Discover.

Complete payment is required day of auction (if bidding live at the auction gallery) or upon receipt of notification of a successful bid (if bidding as absentee, phone or online bidder). All online bidders will have the card on file charged the following day, unless prior communication has been made. Items not paid for after the 3rd day of sale are deemed noncollectable and marked bidder is marked as a non-paying bidder.

Shipping Information

We've Partnered with Pak Mail Crate & Freight for all of your auction shipping needs. They offer FedEx, DHL, UPS and USPS services for most parcels. For those larger items, Packing, Shipping, Crating & Freight services are available. With Online tracking services & Free estimates. They can be reached directly for questions and quotes at 602-971-2300.

Pak Mail's hours of operations are as follows: Mon-Fri 9am - 6pm, Saturday 10am - 2pm, Closed on Sundays.

Note: We no longer provide in-house shipping, but are happy to meet with your 3rd party shipper of choice if you prefer to use a shipper other than Pak Mail.

Once items have been paid in full, items must be turned over to third party shipper. Winning bidder must contact shipping company for payment & details post-auction and to arrange for items to be picked up. J. Levine auction & appraisal is not responsible for damage to any items once items have been turned over to shipping company. All costs associated with shipping are the responsibility of buyer.

Winning bidders MUST make proper arrangements to have their items removed by a 3rd party shipper within two weeks from the date of sale. Failure to do so will result in the automatic shipment of items to address on file with an additional surcharge. The credit card listed on file will be charged prior to automatic shipment.

Buyer's Premium

The property listed in this catalog will be offered and sold by Pacific Galleries as owner or as "Agent for Consignor" subject to the terms and conditions set forth on this page.

PROPERTY OFFERED FOR SALE

All Articles or Lots Sold "As Is"--Pacific Galleries and the Consignor assume no risk, liability, or responsibility for the authenticity of the authorship of any property identified in this catalog (that is, the identity of the creator or the period, culture, source of origin, as the case may be, with which the creation of any property is identified herein). All property is sold "as is" and neither Pacific Galleries nor the Consignor make any warranties or representations of any kind, or nature, with respect to the property, and in no event shall they be responsible for the correctness, nor deemed to have made any representation or warranty, of description, authenticity, attribution, provenance, age or condition of the property. No statement in the catalog, made at the sale, on the bill of sale or invoice, or elsewhere, shall be deemed such a warranty or representation or an assumption of liability.

Items of Asian Origin

Pacific Galleries strongly encourages all prospective bidders or his/her agent to personally inspect items of Asian origin during preview before the auction. Items of Asian origin are very difficult to date; opinions of authenticity may vary between experts and specialists. References to age, origin, and authorship are opinion only and are not a guarantee of authenticity or an assumption of liability, as stated in the above paragraph.

Conditions to Cancel a Sale

Notwithstanding the preceding condition, if within seven (7) days of the sale of any lot, the purchaser gives notice in writing to Pacific Galleries that the lot so sold is counterfeit and, if within ten (10) days after such notice the purchaser returns the lot in the same condition as when sold, and proves beyond a reasonable doubt that the returned lot is in fact a counterfeit and that this was not indicated by a fair reading of the catalog, the sale will be rescinded and the purchase price refunded.

Right to Withdraw

Pacific Galleries reserves the right to withdraw any property at any time prior to the sale.

Rugs

Pacific Galleries attempts to accurately describe rugs and identify their country of origin. Our guarantee on rugs extends only to the fact that a carpet is hand-made. Indications of pattern, region and origin should be considered as probable and are in no way guaranteed.

AUCTION PROCEDURE

Registration

Pacific Galleries requires each bidder to fill out a registration form before receiving a bidder's paddle. A valid driver's license and a major credit card may be required.

*Bid Limits & Deposits*

For select Asian auctions, Invaluable/AuctionZip/eBay bidders will be subject to a $3,000 USD total bid limit if approved. Please message Pacific Galleries through Invaluable/AuctionZip/eBay to request an increase, call our front desk at 206-441-9990, or e-mail frontdesk@pacgal.com. Requests to raise the bid limit during an auction or within 24 hours of the auction session will be processed time permitting. Bid limit increases are not permanent, and will need to be made every auction a bidder plans on bidding in excess of $3,000 USD.

A refundable deposit may be required, at the discretion of Pacific Galleries, for bidders who do not meet minimum feedback/UPI requirements. Deposits will be in the amount of $500 or 10% of the requested bid limit amount, whichever is higher (i.e. a $10,000 bid limit will require a $1,000 deposit; a $4,000 bid limit will require a $500 deposit). Deposits can be made by credit card or wire-transfer. The balance of the deposit will be refunded after the sale. Any fees charged for accepting or transferring funds will be the responsibility of the party who is first charged the fee (that is, Pacific Galleries will not pass on the cost of fees and neither will the bidder). In the event of non-payment, the deposit will be applied to the invoice as payment; if the deposit does not cover the total of the invoice, then the buyer will default on the sale (See "Default on Sale").

Acceptance of Bids

Pacific Galleries reserves the right to reject a bid from any bidder. Pacific Galleries will not knowingly accept a bid from the consignor of any lot.

Sale to Highest Bidder and Disputes

The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, the auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, Pacific Galleries' record of sale shall be conclusive in all respects.

Reserve by the Consignor or Seller

Unless the sale is advertised and announced as a sale without reserves, each lot is offered subject to a reserve and Pacific Galleries may implement such reserves by bidding through its representatives on behalf of the consignor. When bidding Pacific Galleries will use bidder # 23, 900, 444, 983.

Absentee Bids

Pacific Galleries, without charge for its services, may undertake to make bids on behalf of responsible persons approved by it, subject to the conditions of sale and to such other terms and conditions as it may prescribe. Pacific Galleries reserves the right, however, to decline to undertake to make such bids, and when undertaking to make such bids shall in no event be held responsible for failure to correctly enter such bids. Pacific Galleries also allows for bids of no less than $500 to be made by telephone. In this instance, the buyer must notify the staff and fill out the appropriate forms.

Payment and Title Transfer

Upon the fall of the auctioneer's hammer, or the statement of "Sold", title to the offered lot passes to the highest bidder who thereupon (a) assumes full risk and responsibility therefore, and (b) will pay the full purchase price therefore, or such part as Pacific Galleries may require. In a case of a discrepancy between the Artfact console's record of sale and the Pacific Galleries clerking sheets record, the clerking sheets will be the final accepted record. Pacific Galleries is also not responsible for technical issues or loss of internet connection. In cases where the internet connection is lost, Pacific Galleries will not stop the floor bidding while the connection is re-established; lots may therefore have to be passed on Artfact to catch up to the floor bidding.

Payment is due seven (7) days after receiving an invoice. Pacific Galleries accepts Paypal (send payments to pacificgalleries@pacgal.com), cash, check and Visa, Mastercard, American Express (2% additional fee) and Discover cards, or email for wire transfer instructions. At the buyer's request, Pacific Galleries will charge the credit card on file with Artfact/Invaluable/AuctionZip if one was required at registration. If the buyer has not remitted payment by the second Monday after the auction, Pacific Galleries will attempt to charge the credit card on file with Artfact/Invaluable/AuctionZip for the total invoiced amount.

Non-payment will result in negative feedback, unpaid item strikes, and being placed on our no-bid list.

Receipt to be Presented to Claim Articles

No article shall be delivered to a purchaser until a paid receipt has been presented. Pacific Galleries will make deliveries or purchaser may on request facilitate the employment of carriers and packers for the purchaser's account, however, Pacific Galleries will not be responsible for their acts in any respect whatsoever.

Buyer's Premium

On each lot the total purchase price payable shall be the sum of the final bid (the "sold" or "hammer" price) plus the buyer's premium. The buyer's premium is 18% and a 5% additional premium is added for internet bidders.

Removal of Purchased Merchandise

All purchases must be paid for and removed by seven (7) days after the sale. Bidders will be assessed an additional five percent (5%) of the purchase price starting the second Tuesday after the auction; items that have been paid for but not removed may also qualify for the fee (arrangement for storage may be negotiated). If items are paid for, but not removed within two weeks (14 days) of the sale, we understand that Pacific Galleries reserves the right to re-sell the items for us under the terms and conditions of the auction Consignment agreement (http://www.pacgal.com/forms/PDF/ConsignmentContract.pdf). If items are not paid for and removed after two weeks (14 days) from the date of the sale, Pacific Galleries reserves the tight to rescind the sale of unpaid items and to re-offer those items in future auctions. Rescinded online sales will result in negative feedback and an Unpaid Item Strike for each item and the bidder being added to our No Bid List.

Default on Sale

If any of the foregoing conditions or any other applicable conditions are not complied with, in addition to other remedies available to Pacific Galleries and to the Consignor by law, including without limitation the right to hold the purchaser liable for the bid price, Pacific Galleries, at its option, may either (a) cancel the sale, retaining as liquidated damage all payments made by the purchaser or (b) resell the property on three days notice to the purchaser and for the account and risk of the purchaser, either publicly or privately, and in such event the purchaser shall be liable for the payment of any deficiency plus all costs, including warehousing, the expense of both sales, and Pacific Galleries commission at its regular rates and all other charges due hereunder plus incidental damages.

Condition Information

Purchasers may inspect the merchandise and are urged to do so. The Auctioneer makes no warranty as to condition and shall not be responsible for any defects in any Lot. All goods are exposed for Public Exhibition and, for Internet buyer's condition is described in the listings. Item descriptions, dimensions and estimates are provided for guidance. It is the buyer's responsibility to inspect all lots prior to bidding to ensure that the condition is to their satisfaction. If potential buyers are unable to inspect lots in person, our staff will be happy to prepare detailed Condition Reports on individual lots. These are for guidance only, and all lots will be sold as described, as per our Terms and Conditions of Sale. All goods are sold "AS IS" and "WITHOUT RECOURSE".