If the buyer intends to climb the horse during a trial period, make sure that the terms of payment of the board of directors with the farmer have been made in advance and that these agreements are expressly stated in the contract. If the board is not paid, the owner of the stable could be allowed to place a pawn on the horse which could prevent the return of the horse to its owner at the end of the negotiation. g. If insurance is required to cover the value of the horse with liability insurance and who buys it. In addition, in order to protect a seller from the right to guarantee a barn for non-payment of the board of directors by a buyer, it is necessary to clearly state the financial provisions and responsibility for boarding the horse. With all other specific agreements between the buyer and the seller, the contract should contain statements indicating that the horse is in good health and that it is current with its vaccines and coggins. The seller should also indicate that they are in fact the owner of the horse and that the horse has no pawn rights for sale. The contract should also indicate who is taking the risk of losing or injury to the horse. i. How to treat the horse in case of illness or injury (including veterinarian, fees and notification of the seller), as well as the number paid by the horse and the amount of payment, the horse must die. If you do not intend to consult a lawyer about a contract when buying or selling a horse, protect yourself by writing a simple and enforceable contract covering the essential points of the sales contract.
Breakdown – the potential buyer basically wants to “hit the tires” of your horse from the property. The proposal is that the horse leaves your property to go to their trainer`s estate for a period of several days so that the trainer can evaluate the horse. Once the trainer has approved the horse, the sale can be concluded. They will not be present during the off-site evaluation, so they cannot be taken into account on the nature and extent of the assessment – for example. B the duration of the workouts, the height of the jumps, the use of whips/spurs and/or the use of other training equipment. The full payment of the refundable horse, subject to the return of the horse to the owner`s property in the same condition and certain contingencies. Even if it is rare, an unethical buyer could steal the horse. Ensure that the contract provides for the purchase of insurance to cover the potential loss of a horse, as well as strict provisions that describe precisely where the horse should be kept and whether it should be authorized by these premises.
The theft of a horse would likely result in both criminal and civil actions. In both cases, a written and signed contract, which explicitly defines the parameters of the transaction between the buyer and the seller, would be decisive evidence in court. Don`t need a contract? Consider this . . . If you carry the horse to the test site and return to the seller, you should not pass the test and who bears the costs. I. If the horse needs to pass a pre-emption test, indicate the name of the veterinarian, the tests that can be included and who pays. Many experts recommend that the pre-emption examination be carried out in court before a horse leaves.
In this way, if the horse becomes lame or sick, the problem can be identified before the horse is put in the hands of a buyer. Consider the payment structure to include in this type of test agreement.