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First right of refusal

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  • Can a right of first refusal stand up in a court of law

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    11-12-2011, 10:10 PM
  #41
Trained
^^ But that is my point. It is totally up to you, as the buyer, to decide if you are willing to comply.

Just doing a quick search of the Internet indicates these sorts of contracts are legal and binding, depending on the exact wording. And yes, they usually involve amounts that would make suing in civil court reasonable.

http://www.blakes.com/english/view_disc.asp?ID=2515

Right of first refusal - Boston Real Estate - Boston.com

Right of First Refusal; What Does It Mean? | Vann & Sheridan, LLP

Right of first refusal: legal right and enforceability
     
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    11-12-2011, 11:18 PM
  #42
Foal
I am pretty sure my contract I am currently under with the BLM is an enforceable one it clearly states "Any person who commits a prohibited act shall be subject to a fine of not more than $2,000 or imprisonment for not more than one year, or both, for each." One of the prohibited acts states that I cannot sell him for a period of 12 months. If I can't care for him I can give him back, but I wouldn't get my moneyback. I am not going to test it. It's a good thing I love my little mustang.
     
    11-13-2011, 12:09 AM
  #43
Yearling
Quote:
Originally Posted by kevinshorses    
If you want to keep track of the horse then don't sell it. If you sell it then let go of it and move on.
Things are not always that simple in ones heart and/or situation. No one has any right to tell someone how much to care about an animal they need or want to sell.
     
    11-13-2011, 01:11 AM
  #44
Banned
Quote:
Originally Posted by bsms    
^^ But that is my point. It is totally up to you, as the buyer, to decide if you are willing to comply.
I'd imagine that it would have to be enforceable as every rescue I have ever heard of does it. I would imagine that in a cost saving effort, many will copy others - but at the same time, it must have been tested already.

Back to the OP, she had the first refusal and refused, so she is doomed, unless she gets someone else to buy the horse - hopefully with less conditions than she uses when selling. Add to that she sent an email after being asked not to contact the seller again.

I am so very thankful that America is so huge, and I don't have to consider the OPs barn to board my horse, as there is certainly enough money grabbing and drama to last a life time.
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    11-13-2011, 06:14 AM
  #45
Started
I can certainly understand caring about a horse and making sure it goes to a good home and isn't sold into a bad situation. However, if you choose to sell your horse at fair market value, then that is a risk I feel that a person has to take. You can always lease a horse if you want ownership rights.

The whole selling a horse for fair market value, but signing a contract giving the seller rights is a whole lot of BS if you ask me. I also find it very amusing that a person would sell a horse they care so much about, but wouldn't pay a couple of hundred bucks to a lawyer to draw them up a contract that was actually legal and would stand up in court.

For those of you that think that kind of silly contract is ok when selling a horse then I have a question for you. If a buyer came along and said they would buy your horse except you had to give them a year to own the horse and if for any reason problems occurred then you'd buy the horse back, would you do ti? Of course you wouldn't. To me, it is the same thing.
kevinshorses and WickedNag like this.
     
    11-13-2011, 11:43 AM
  #46
Foal
Mustang Adoptions- Note to BO

Quote:
Originally Posted by hobbyhorse    
That's a interesting point that bsms brings to this thread. For example; To adopt from xxx rescue it's $250.00. The adopter signs a contract to take care of the horse and is not permitted to sell it in a 12 month period. If the adopter breaks a condition for not properly taking care of the horse or sells the horse within 12 months, the adopter can be fined for X amount of money or imprisonment no more than 1 year. Can this stand up in a court of law? There must be a difference between adopting and buying a horse!
If this relates to the Feds, mustang adoption, yes they can.
I had a boarder that paid $2500 at mustang makeover, then he disappeared after a few months. The BLM contacted me for the inspection. I told them I had no idea where the boarder was, but I would like the papers so that I could sell the horse for back board lien.

I was told I could not sell the horse, and no, my service board lien did not come before the Federal government...? They did offer to allow me to "adopt the horse for another year" and then sell him! Told them to take a flying leap and come get the horse, that I was tired of feeding him for free!

Makes a BO think twice before taking a mustang to board... I wonder with hobbyhorse, if a "rescue" would also be before a "service lien?"
Ray MacDonald likes this.
     
    11-13-2011, 12:13 PM
  #47
Trained
Quote:
Originally Posted by sandy2u1    
...For those of you that think that kind of silly contract is ok when selling a horse then I have a question for you. If a buyer came along and said they would buy your horse except you had to give them a year to own the horse and if for any reason problems occurred then you'd buy the horse back, would you do ti? Of course you wouldn't. To me, it is the same thing.
Actually, I did that. For 60 days, I agreed to buy her back at the selling price for any reason. In return, they agreed to give me first chance to buy her for the selling price if they ever wanted to sell her.

It was a mutually acceptable deal to us, or we would not have signed the contract.

That is what I do not understand. No one is forcing anyone to buy. If they do not want to buy with a buy-back clause in the contract, they can go buy another horse. But if a buyer AGREES to the terms, then why should they not be held to their agreement?
Sharpie likes this.
     
    11-13-2011, 12:36 PM
  #48
Yearling
60 days is very different than 365 days.
You offering to take a horse back within 60 days shows that you are a man of honour who stands beside the quality of his horse, and that you are concerned enough about the horse and buyer enough that you want it to be a good match.
Where it doesn't work is when I purchase from you a green broke, spooky 4 yr old, and over the course of a year turn him into a solid dependable show or ranch horse. Then due to unforseen circumstances (financial, health, etc) I have to sell him back to you for the same price I bought him? When he has perhaps doubled in value? I don't like the sounds of that..
     
    11-13-2011, 01:52 PM
  #49
Trained
Quote:
Originally Posted by Skipsfirstspike    
...Then due to unforseen circumstances (financial, health, etc) I have to sell him back to you for the same price I bought him? When he has perhaps doubled in value? I don't like the sounds of that..
Then you would not be required to agree to the purchase. No one FORCES another to buy a horse from them with any form of buy-back clause. The buyer voluntarily enters into the contract, knowing the provisions and agreeing to them. Therefor, the buyer should keep their written word.

As a seller, I would have kept my end of the bargain. I see nothing wrong with expecting the buyer to do likewise.
     
    11-13-2011, 04:09 PM
  #50
Trained
This whole topic has just made me re-inforce my determination to never touch a horse with strings. I did it once, it was a stallion with retained breedings and that was a HUGE P.I.T.A. And I swored I'd never do that again. Everyone I've ever heard of with those 'right of first refusal' contracts has been totally dissatisfied with them and it's ended up in some kind of 'fight' over the horse. Or the original seller doesn't get notified and given first right and finds out later the horse was sold and is mad. YAK YAK YAK!

Bottom line, when I sell a horse I sell it. No retained breedings, no first refusals nothing. If the buyer then wants to contact me later and offer me the chance to buy back a well loved horse, that's awesome and I appreciate their consideration. But I absolutely won't require it.
     

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