Horse Racing Syndicate Contract With Nike In Virginia

• Category: Animals - Horses
• State: Multi-State
• Control #: US-00039DR
• Format: Word; Rich Text

Description

The Horse Racing Syndicate Contract with Nike in Virginia facilitates the shared ownership of a thoroughbred stallion between the Initial Owners and the Syndicate Manager. Key features include the division of ownership into fractional interests, where each member has equal rights and obligations, and provisions for transferring these interests. The contract outlines the syndicate's management structure, including the roles and responsibilities of the Syndicate Manager in breeding and maintaining the horse. Filling out the form requires entering specific details about the stallion, owners, and management structure. The form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in horse racing, as it helps delineate rights, obligations, and transfer processes within the syndicate. This contract can be applicable for forming new syndicates, securing breeding arrangements, or facilitating ownership transfers among members, ensuring transparency and structured operations. Furthermore, it emphasizes the protection of all members' interests while providing a legal framework for managing equine assets.