Join Date: Dec 2010
Location: southern Arizona
I sold a mare last December with right of buy back. Our contract - handwritten & not reviewed by a lawyer, gave them the right to return Lilly for 60 days, no questions asked and I would buy her back for the sale price - a whopping $600. In theory, for as long as she lives, if they want to sell her, they are supposed to contact me (we live less than 2 miles apart) and offer to sell her back to me.
I consider this as no different than many rescues include in their contract.
Is it legally enforceable? Well, for a $600 horse, I doubt any money I could get in 'damages' would be worth filing in small claims court. It really was more of a statement of intent - a written agreement, clearly spelled out, saying this is what I want and that they agree to do so.
I see no harm in it. Sometimes horses don't work out at a new place. Lilly's only problem with me is that she and Trooper hated each other, and I was tired of keeping them separate. But she was moving into a corral with 2 other horses, and the new buyers had 60 days to decide if it was working. If not, I'd take her back. If she came up with some unknown to me disease, I'd take her back. Heck, my wife still refuses to drive past their place, because she cries when she sees Lilly with them - and Lilly is doing great there.
If they didn't want to agree to the contract, they didn't have to sign it or take her. My intent was simply that if, for example, they were killed in a car wreck and their kids wanted to sell the horses fast, I could keep Lilly from going to some dump of a place. And for them, they knew of our reputation (we use the same trainer and farrier), and it gave them confidence that if things didn't work out, they wouldn't be stuck with a horse that couldn't get along.
But for a $600 horse, it is not realistically a legally enforceable contract. If she was a $6 million horse, I'd bet a contract could be drawn up that WOULD be legally enforceable.
Last edited by bsms; 11-12-2011 at 06:36 PM.