Friday 29 January 2016

Importance Of Horse Purchase Agreement

By Thomas Parker


Buying an equine is a remarkable investment in which both the money and emotions are greatly involved. Since one is interested in having a good animal it is very important to select an animal that is good to work with and attractive to look at. Horse purchase agreement helps in the protection of both the buyer and seller especially if a conflict arises concerning the agreed terms of sales and the purchases.

Within it all the requirements concerning the quality required and even able to meet ones demands are normally stated. Therefore if the stallion brought fails to meet any of terms as it is within the written document, it can therefore be return and amount recovered too. If writing is done when purchasing an equine, it becomes very simple when dealing with a conflict to the extent that one does not require a lawyer. The parties ought to understand what has been written.

When intending to buy one within the city Dedham, MA conduct and investigate the correct procedures that are mainly followed during buying period. The information can be obtained from friends who have ever bought one or from the magazines. The information helps one in knowing how to negotiate and what to expect during the buying procedure. One comprehends on the rules to abide during the process.

The contract written ought to be signed by the parties involved in the process. Before signing the buyer is expected to confirm that the animal one intends to buy has the desired traits. Ensure that the vetting is done to find out any hidden defect with the equine. On cash payments ensure that you receive a receipt to help in keeping the records and for use in case of a conflict.

If one bought an equine after reading an advert by the seller, it is crucial to keep the paper as it can be used as evidence if a dispute arises. A good agreement should comprise items such as the identification of parties involved during the time of agreement. The buyer and seller should be written in it.

The correct amount that is used in transaction should be contained within the contract. There should also be short description of animal (one is interested in); in terms of color and in terms of the behavior. Attaching the photograph of animal to buy is of great importance. It is very important to include the registration number within the contract too.

It should also contain a clause stating that the equine is free of vices and any kind of defects and is able to meet the purpose for which it was intended for as per the information disclosed by the seller during the period of drafting the contract. It should also contain any problems related to the animal that the seller is aware of. The chances of disputes occurring are minimal if the seller had forewarned about the vices of animal before the contract.

It should state the period when the ownership is transferred to the buyer. Many prefer the transfer of the possession immediately after the transportation to homestead of buyers because anything can happen during the transportation due to minimal experience with buyer.




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