When people buy and sell horses, disputes - and sometimes lawsuits - can follow. These conflicts are often avoidable. As a lawyer who drafts contracts and has tried equine contract cases in two states, I write to discuss some problems that can occur in equine sale transactions and suggestions for avoiding them.
PROBLEM: Buying and Selling Horses on a Handshake
Oddly, people in the horse industry still deal on a handshake. The same person who expects a receipt from the restaurant after buying an inexpensive lunch might later buy a horse for thousands of dollars and seek absolutely nothing in writing. The problem is, with nothing in writing, sales disputes can become complicated and costly to resolve because the parties cannot agree on the contract's terms.