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Frequently, horse purchasers put down a deposit intended to show their intent to purchase the horse. Payment of the remainder of the purchase price is frequently conditioned upon the outcome of a prepurchase veterinary exam or a trial period.
Generally, the purchase agreement should contain a specific time that the deal will be closed and a clause stating that the buyer's deposit will be refunded if the horse is injured before the close of the transaction.
A trial is a period of time where the potential buyer takes the horse on a trial to their barn to see whether or not it's a good match. The financial details vary from case to case but usually there is a refundable deposit put down on the horse for the full asking price that will be returned upon the horse's return.
Noun Informal. an opponent who performs against a superior foe in a workout or exhibition.