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Why Use a Contract When Buying or Selling Horses

Panel Expert: Lisa Hollister, Esq.

Submitted by member: HollandP

Why should I use a contract when I have been buying and selling horses for years on a handshake?

Answer by Lisa

There are several reasons you should reduce the contract to writing. First, under the Statute of Frauds, if you are selling goods for $500 or more, the parties must have a written contract for the sale to be enforceable. But often the real reason that it is important to reduce a verbal contract to writing becomes apparent if the agreement does not go well. Under those circumstances, it will be important to have a written document that evidences the exact terms of the sale. It is equally important that this contract be well written and address all of the matters that are important to the parties.

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Lisa Hollister

Lisa Hollister, Esq. has been licensed to practice law in the State of Ohio since 1987 and has practiced Equine Law for the last 14 years. As an Equine Attorney, Lisa has written contracts for some of the best trainers and riders in the United States as well as representing equestrians in matters before the United States Equestrian Federation Hearing Committee. Since 2002, Lisa has been the Equine Law Columnist for Sidelines Magazine, on subjects ranging from “Your Right to Demand Arbitration When USEF Files a Charge Against You” to “Releases, Their Advantages and Limitations.”

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