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Any one have a contract covering exchanging horses?
There is a small possibility that I may be going to trade out one of my horses, this would be a straight swap I believe, theirs for mine.
I was wondering if anyone has done this and if you had a contract agreement?
Equine Legal Solutions has that sort of contract I believe, or at least something similar. Their simpler papers start at $10 I think.
If you're just trading horses period, no trial or buyback agreements, a bill of sale can be written up for each horse for the same or no purchase price.
I'm not a lawyer so I can't give you legal advice, but this is what I would do if it was me in this situation:
Write down the full terms in a bill of sale type agreement. Be sure to put in there that any changes to the contract must be done in writing and signed off by both parties in front of an agreed upon witness. If you want a trade back clause, then that needs to be on the contract. The health and training level of each horse at the time of the trade needs to be fully disclosed. Have a picture of both horses in question on the contract and document any distinguishing marks. Both parties get a copy signed by the other person.
For extra security, one can get two witnesses to sign or get both copies notarized.
For any contract to be valid you need offer, acceptance, and consideration. "Consideration" means a promise for a promise; it may or may not be a promise to pay money. A time for performance is most highly recommended, but if one is not set then when a dispute arises a court will presume a "reasonable time."
As long as this is a clean swap you don't need a Philadelphia Lawyer to draft a contract. If buy backs, swap backs, guarantees, etc. are involved then you will need a lawyer to ensure that things are done correctly.
Put another way, following the KISS Principle is a Very Good Thing!!! :-)
It's honestly as simple as this:
I just traded. He wanted the filly I had and I wanted my mare back that I had sold to him. He brought the mare over, loaded up the filly, we exchanged registration papers and shook on the deal. Never had a problem, no call backs, we both wanted the horse we got.
However, he lives within 20 minutes of me and I knew where the horse was going, plus the man wasn't a stranger.
With a stranger, and the way things are these days, I would most likely go with a contract.
It is worrying when it's a stranger indeed, and when we are talking what for me is a high dollar horse
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