This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Georgia Contract to Train, Board and Show Horse with Option to Purchase
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FAQ
What is a Right of First Refusal? Equine-related contracts sometimes include a right of first refusal clause that restricts how a horse can be re-sold. Through these clauses, a horse buyer agrees to give the seller an opportunity to buy back the horse later under certain specified conditions.
In addition to the price, a sales contract should state the time for payment, the method for payment, and any payment schedule (e.g., lump, installment, etc.) agreed upon. A sales contract should address the many different aspects of the delivery of the goods and/or services.
Aside from the agreed-upon price, including any adjustments or deposits, your sales contract should outline: How and when the buyer will receive an invoice. The timeline for payment. Acceptable payment methods, like email transfer, bank draft, certified check, cash, etc.
A contract will include offer, such as the sale of a horse, and acceptance, such as the purchase of that horse. Horse people often think deals can be sealed with handshake alone. But a handshake offers minimal, if any, legal protection. But there's much more to writing a legally binding agreement.
When Should I Use a Horse Bill of Sale? Anytime you plan on selling, buying, or transferring ownership of a horse from one person to another, you will need a Horse Bill of Sale. This sales document is important in detailing everything related to the purchase and transfer. This is a legally binding document.
Full-Care Boarding In a full-care arrangement, the stable takes care of all your horse's day-to-day needs. This typically means feeding, stall cleaning and turnout. Blanketing and other extras may or may not be included in full-care board. Veterinary service also might be provided.
Pasture Boarding Pasture board means your horse is living out on pasture 24/7, usually with a herd. They have shelter, food, and water. Some facilities only offer hay to pasture boarders. Others only offer self care pasture boarding.
Standard commissions range between 10 percent and 15 percent and may apply to both the buyer's and seller's agents. Agree ahead of time what your budget will be and if the commission must be included in your budget.
How to Write a Horse Sale ContractIdentify the parties. That's the buyer(s) and seller(s), including addresses, phone numbers, and Social Security or Federal tax-identification numbers.Identify the horse.Date of sale.Price and terms of sale.Risk of loss.Warranties.Prepurchase exam.Insurance.More items...?
Repossession is the act of taking back an item, such as a horse, that has been sold on credit when the buyer has violated a payment arrangement. The process may seem as simple as entering the non-paying buyer's barn, removing the horse, and hauling it away.