Are you now committed to fulfilling your long-standing dream of owning a horse? If so, it’s time to consider the importance of a written agreement.
Why is a written contract necessary? A contract offers you legal security. Buying a horse is usually an exciting experience and it’s important to keep focussed on the practicalities, including the legal aspects.
Generally speaking, whether in verbal or written form, a legally binding contract exists between the seller and the buyer as soon as an agreement is reached. However, it is always advisable to put down what has been agreed in writing, to provide documentary evidence for what has been contracted.
There are two types of sales contract:
A contract to buy a horse made between two private individuals, or between a private seller and a professional horse dealer.
A contract to buy a horse made between a professional horse dealer and a private buyer (the consumer).