Equine Contract Law
After months of searching, several failed trial periods, and a few thousand dollars spent on veterinary pre-purchase evaluations, you have finally found your next equine partner. Now what?
No matter the purchase price or your relationship with the seller, it is imperative that you form an enforceable sales contract to memorialize the agreement. Oftentimes, equine buyers and sellers utilize pre-printed form agreements, found either on the internet or passed along from fellow equestrians, without understanding the contract provisions, ensuring that the essential provisions are included, or, are using forms that lack the necessary details to ensure its enforceablility. Even worse, many times parties fail to memorialize their agreement at all.
Oftentimes, clients may not understand:
- Which law will govern a contract or ownership dispute;
- What state, or country, a lawsuit may be filed in;
- Who bears the risk of loss or injury to the horse while the transaction takes place;
- Which conditions are covered by an “as is” clause;
- What disclaimers should be included;
- What warranties, if any, are created by the sale advertisement;
- Whether the sale includes an implied warranty of fitness; or,
- Whether, and in what types of transactions, a merger and integration clause is necessary.
A number of other equine related transactions can benefit from the use of an equine lawyer, some include: boarding, training, and breeding contracts; embryo transfer agreements; and, broker and syndicate agreements.
For those contemplating entering into any type of equine transaction, please contact Kelly. A small investment upfront, can save thousands in litigation expenses in an attempt to enforce a poorly drafted contract or an oral agreement involving an equine transaction.
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