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Re: [RC] Need Sales Contract w/ Trial period - Becky HuffmanAnother option is mortality and loss of use insurance on the horse, I would require it for a trial period and strongly recommend it for the buyers protection in the case of a purchase, w/ buyback option. I agree with Mike that it is preferable to sell the horse with a limited buyback option, - because there are also legal issues, if I'm not mistaken. Maybe one of our legal experts will step forward, but I believe the owner could be held liable if the horse injures someone, even if it wasn't in their custody at the time. I frequently sell horses on terms and require mortality insurance be maintained for the term of the loan. It's a small percent of the price of a horse and offers great peace of mind, in the event of the emotional trauma of disaster, at least the finances aren't in question. Becky Huffman, Cleburne, Texas www.TheOriginalSeries.com "Of the long years of peace ... there is little tale." JRR Tolkien, The Silmarillion ----- Original Message ----- From: Mike Sofen <msofen@xxxxxxxxxxx> To: <ridecamp@xxxxxxxxxxxxx> Sent: Friday, March 18, 2005 10:28 AM Subject: RE: [RC] Need Sales Contract w/ Trial period I would be EXTREMELY wary of using a trial purchase contract. Last year I sold a horse on such a contract. It has a specific clause about the entire purchase price being due if the horse becomes unsellable due to injury or death, during the trial period. Well, the horse got grievously injured a trailer accident, was completely unsellable at the time of the injury, so that clause in the contract was activated. However, the young woman was so upset, that I chose to work with her, allowing her figure out a way to get the horse healthy again and then find a buyer for it. (Remember, legally at that point she owned the horse). Unfortunately, after a few months of care and rehab, my good intentions became completely destroyed, when she then turned around and told me she was going to return the horse, and expected me to take it back. That's akin to you driving a unique collectable car (like a 1923 Alfa Romeo) off a dealer's lot, crashing it during a test drive, taking it to a body shop and having it repaired, and then returning it to the dealer as if nothing had happened. It is no longer an "original", unrestored car. The value has changed. I refused to take the horse back, since the clause in the contract was crystal clear. So last month I finally took her to small claims court to get my money. Unfortunately for me, the judge is not a horse person and did not get it AT ALL. He found in favor of the buyer, saying that I had not proven that the horse was unsellable, even though I supplied gross pictures of the injuries and the buyer even said in court, "I tried to sell the horse locally but was unable to". Pretty shocking. My advice is to do what others have suggested - get the full amount up front in a cashier check and deposit the check when they pick up the horse. You create a contract that says they can return the horse within XX days for a full refund, IF the horse is in the EXACT same condition as when it left. If not, they keep the horse and you already have been paid in full. Mike --------------- Stephanie E Caldwell wrote:If anyone has a sales contract handy or knows a link to one, I need one. Needs to have a trial period clause in it! Thanks, Steph =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Ridecamp is a service of Endurance Net, http://www.endurance.net. Information, Policy, Disclaimer: http://www.endurance.net/Ridecamp Subscribe/Unsubscribe http://www.endurance.net/ridecamp/logon.asp Ride Long and Ride Safe!! =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
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