The town of Dedham, Massachusetts, was settled in 1635, and Massachusetts is one of the thirteen original colonies that eventually became the United States of America. The town was founded based on strong Christian values. In 1636 at the first town public meeting, a covenant was signed that stated in part, that if differences were to arise between the townsmen, they would agree to find resolution through arbitration and that each would agree to pay their respective share for the common good. Almost three hundred eighty years later, these same values are evident in any horse purchase agreement, a common occurrence in this Eastern New England town.
Selling a car is one thing. Selling an equine is quite another. Owners develop strong attachments to these animals and selling one can be very emotional. It is often done with a sense of loss. Even breeders often have a bond with the animals they breed. For whatever reason, selling the animal is what needs to be done.
In a legal transaction such as this it is always best to have an attorney draw up the contract. At one time, the phrase horse trader was somewhat pejorative. Many people looked upon traders with suspicion and felt that traders might not be honest about the short comings of an animal. It was thought that the trader would knowingly charge in unfair price. Today, one might put a used car salesman in the same type of category.
There are fundamental elements which need to be included in every purchase contract. It is important to include a clear, detailed identity for the equine being sold. The gender, age, breed, color, registration, markings and sometimes, the ancestry are necessary and relevant to the contract.
Sometimes the price is too much for the buyer to pay in one payment, and an installment agreement is necessary. If your agreement has an installment plan, the schedule of payments and the amount of each payment should be listed in the contract. The interest rate charged should be clearly stated. The penalty for late payments and contact information for the recipient of the payments also need to be included.
There should be a clause in the contract that makes it clear what will happen if the buyer fails to meet their obligation to pay. The exact terms of this clause would be subject to discussion. For example, both parties must agree exactly what constitutes a failure to pay and the subsequent right of the seller to take possession of the equine.
The buyer may not be satisfied with the quality of the horse and want to return the horse. Traditionally, in the event this occurs, the seller is the party responsible to collect the animal, and the buyer will pay for the cost of transportation. It is also important for the contract to state when risk of loss is transferred from seller to buyer.
Both parties should have the agreement reviewed by their respective attorneys. Before the agreement is executed, the terms may be negotiable. Once both parties have signed the agreement, there is no more negotiation. Make certain that you are satisfied with the terms before signing the agreement.
Selling a car is one thing. Selling an equine is quite another. Owners develop strong attachments to these animals and selling one can be very emotional. It is often done with a sense of loss. Even breeders often have a bond with the animals they breed. For whatever reason, selling the animal is what needs to be done.
In a legal transaction such as this it is always best to have an attorney draw up the contract. At one time, the phrase horse trader was somewhat pejorative. Many people looked upon traders with suspicion and felt that traders might not be honest about the short comings of an animal. It was thought that the trader would knowingly charge in unfair price. Today, one might put a used car salesman in the same type of category.
There are fundamental elements which need to be included in every purchase contract. It is important to include a clear, detailed identity for the equine being sold. The gender, age, breed, color, registration, markings and sometimes, the ancestry are necessary and relevant to the contract.
Sometimes the price is too much for the buyer to pay in one payment, and an installment agreement is necessary. If your agreement has an installment plan, the schedule of payments and the amount of each payment should be listed in the contract. The interest rate charged should be clearly stated. The penalty for late payments and contact information for the recipient of the payments also need to be included.
There should be a clause in the contract that makes it clear what will happen if the buyer fails to meet their obligation to pay. The exact terms of this clause would be subject to discussion. For example, both parties must agree exactly what constitutes a failure to pay and the subsequent right of the seller to take possession of the equine.
The buyer may not be satisfied with the quality of the horse and want to return the horse. Traditionally, in the event this occurs, the seller is the party responsible to collect the animal, and the buyer will pay for the cost of transportation. It is also important for the contract to state when risk of loss is transferred from seller to buyer.
Both parties should have the agreement reviewed by their respective attorneys. Before the agreement is executed, the terms may be negotiable. Once both parties have signed the agreement, there is no more negotiation. Make certain that you are satisfied with the terms before signing the agreement.
About the Author:
For the latest facts about a horse purchase agreement, pay a visit to the web pages online here today. More details are available at http://www.massachusettsequinelaw.com now.
The town of Dedham, Massachusetts, was settled in 1635, and Massachusetts is one of the thirteen original colonies that eventually became the United States of America. The town was founded based on strong Christian values. In 1636 at the first town public meeting, a covenant was signed that stated in part, that if differences were to arise between the townsmen, they would agree to find resolution through arbitration and that each would agree to pay their respective share for the common good. Almost three hundred eighty years later, these same values are evident in any horse purchase agreement, a common occurrence in this Eastern New England town.
Selling a car is one thing. Selling an equine is quite another. Owners develop strong attachments to these animals and selling one can be very emotional. It is often done with a sense of loss. Even breeders often have a bond with the animals they breed. For whatever reason, selling the animal is what needs to be done.
In a legal transaction such as this it is always best to have an attorney draw up the contract. At one time, the phrase horse trader was somewhat pejorative. Many people looked upon traders with suspicion and felt that traders might not be honest about the short comings of an animal. It was thought that the trader would knowingly charge in unfair price. Today, one might put a used car salesman in the same type of category.
There are fundamental elements which need to be included in every purchase contract. It is important to include a clear, detailed identity for the equine being sold. The gender, age, breed, color, registration, markings and sometimes, the ancestry are necessary and relevant to the contract.
Sometimes the price is too much for the buyer to pay in one payment, and an installment agreement is necessary. If your agreement has an installment plan, the schedule of payments and the amount of each payment should be listed in the contract. The interest rate charged should be clearly stated. The penalty for late payments and contact information for the recipient of the payments also need to be included.
There should be a clause in the contract that makes it clear what will happen if the buyer fails to meet their obligation to pay. The exact terms of this clause would be subject to discussion. For example, both parties must agree exactly what constitutes a failure to pay and the subsequent right of the seller to take possession of the equine.
The buyer may not be satisfied with the quality of the horse and want to return the horse. Traditionally, in the event this occurs, the seller is the party responsible to collect the animal, and the buyer will pay for the cost of transportation. It is also important for the contract to state when risk of loss is transferred from seller to buyer.
Both parties should have the agreement reviewed by their respective attorneys. Before the agreement is executed, the terms may be negotiable. Once both parties have signed the agreement, there is no more negotiation. Make certain that you are satisfied with the terms before signing the agreement.
Selling a car is one thing. Selling an equine is quite another. Owners develop strong attachments to these animals and selling one can be very emotional. It is often done with a sense of loss. Even breeders often have a bond with the animals they breed. For whatever reason, selling the animal is what needs to be done.
In a legal transaction such as this it is always best to have an attorney draw up the contract. At one time, the phrase horse trader was somewhat pejorative. Many people looked upon traders with suspicion and felt that traders might not be honest about the short comings of an animal. It was thought that the trader would knowingly charge in unfair price. Today, one might put a used car salesman in the same type of category.
There are fundamental elements which need to be included in every purchase contract. It is important to include a clear, detailed identity for the equine being sold. The gender, age, breed, color, registration, markings and sometimes, the ancestry are necessary and relevant to the contract.
Sometimes the price is too much for the buyer to pay in one payment, and an installment agreement is necessary. If your agreement has an installment plan, the schedule of payments and the amount of each payment should be listed in the contract. The interest rate charged should be clearly stated. The penalty for late payments and contact information for the recipient of the payments also need to be included.
There should be a clause in the contract that makes it clear what will happen if the buyer fails to meet their obligation to pay. The exact terms of this clause would be subject to discussion. For example, both parties must agree exactly what constitutes a failure to pay and the subsequent right of the seller to take possession of the equine.
The buyer may not be satisfied with the quality of the horse and want to return the horse. Traditionally, in the event this occurs, the seller is the party responsible to collect the animal, and the buyer will pay for the cost of transportation. It is also important for the contract to state when risk of loss is transferred from seller to buyer.
Both parties should have the agreement reviewed by their respective attorneys. Before the agreement is executed, the terms may be negotiable. Once both parties have signed the agreement, there is no more negotiation. Make certain that you are satisfied with the terms before signing the agreement.
About the Author:
For the latest facts about a horse purchase agreement, pay a visit to the web pages online here today. More details are available at http://www.massachusettsequinelaw.com now.
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