Hire An Equine Attorney

When it comes to horse purchases, understanding how a good bill of sale for a horse sale works is highly important

. Many issues need to be considered both by the buyer and the seller so that they can protect their interests and minimize liabilities.

One of the best ways to protect your interests in a horse purchase deal is to have a detailed bill of sale. Most of the time people just write a simple document, or borrow a model from a friend. This may be a problem for both of the parties, as it may not effectively protect their specific interests. Every horse purchase involves some unique situation. Therefore, it needs a specific document.

Many issues should be addressed in this document including warranties, identification, consideration and risk of loss, just to name a few. In order to have a document to protect your interests, you need to get in touch with an equine attorney, which holds specialization in this domain. An equine attorney will make sure that all of your interests are protected by covering all the legal aspects of the equine bill of sale.

Vital Information

The names of the parties are one of the most important information in a bill of sale. You should have the parties full names and addresses and dont forget to identify their capacity in the transaction (i.e. seller, buyer, agent etc.).

An equine attorney knows the common mistakes done in drafting these agreements and will help you to be protected by the law. One of the most common mistakes is to omit the agent from the contract by listing the agent as the owner.

You also need to correctly identify the horse. Use all the unique features to identify the horse. If the horse has a member identification number, breed association or Jockey Club, make sure to list that. Also mention the horses name, sex, height, age, color and breed for correctly identifying the animal.

Warranties

The main reason of including warranties in the contract is to deal with the intended use of the horse. Whether the intended use is as a companion horse or as a grand prix jumper, you have to decide if that use is warrantable. If the parties have the same opinion on warranting the horse, the agreement should state clearly what is being warranted, the length of the warranties and what would be the penalty for not meeting the warranty.

Risk of Loss

Another main term that should be declared in the contract is the risk of loss passes to the buyer. Thats the time when the seller is no longer responsible for the animal, and the buyer takes the responsibility for anything that happens to the horse. Generally, risk of loss passes when the money is exchanged and the horse no longer belong to the old owner. However, there are some situations where risk of loss may not pass instantly after the purchase. Suppose that the money exchanges hands, but the horse is transported by a third party hired by the seller; or if the purchase price is paid over time; or if the money changes hands but the seller transports the horse. These are some circumstances that could raise the issue of when risk of loss passes and therefore its the duty of the equine attorney to state clearly in the contract the accurate time that the risk of loss passes from the seller to the buyer.

by: Emiley David

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