Sign In or Sign Up

The Contract

RSS RSS-Feed of the Advisor
Subscribe for Free!

If an issue arises, the sale contract is useful evidence as it allows both the buyer and the seller to be safeguarded.

Safe handshake by using a contractBack in the days, purchase arrangements were sealed with a handshake. While this is not forbidden today, this method is not particularly advisable for neither contracting party.

A sale contract is usually put together quite quickly once the general regulations and the price have been agreed upon. Whether you write the contract yourself or use a template is up to your own best judgement. It is however advisable to create an individual contract for zour specific horse.

With the use of template contracts, caution is advised. Experiences show that every contract looks a bit different. A sample contract can cause more harm than advantage especially when individual agreements have been made or the particular horse has special preferences that should be recorded within the contract. If in doubt, we recommend you seek legal advice here. We are happy to provide you with free professional legal help if needed.

In terms of content, the following points should be included in the sale contract.

  • Details of the contracting parties – The names and addresses of both buyer and seller are crucial. If possible, include telephone numbers as well.

  • Details of the subject of the contracts – the horse. Include the Unique Equine Life Number (UELF) into the contract, and also give full particulars regarding breed, looks, name and age of the horse.

  • Also include particular features, characteristics and potential tournament results.

  • The state of health. This is best done through a vet check, which is carried out before the sale. The vet check should be mentioned in the sale contract and a copy should be attached.

  • Also make note of which documents are being handed over upon the delivery of the horse. Examples of such documents are the horse passport, a certificate of ownership, tournament badges etc.

  • Price and payment procedures. This element is particularly important. Include the exact price in the contract, as well as how the payment will be made (e.g. in cash upon delivery of the horse or through instalments), as well as the date of the payment. If the payment will take place through instalments, also make note of the height of the respective instalments and when they are due.

Two copies of the contract should be prepared and both should be signed by the contracting partied. Thereby both buyer and seller are safeguarded.