What should I agree when loaning a horse?

A well drafted loan agreement should avoid uncertainty and disputes. The journey through the Court process can be stressful and expensive, but in some cases, may be the only option for a party wishing to see redress if a dispute arises about a loan. Parties should think carefully about what they want to agree in writing, before the horse is loaned.

Below we provide a few examples of what you may wish to consider agreeing, before you enter into a loan agreement.

  • What is the length of the loan?
  • How can it be brought to an end?
  • What notice period should be given?
  • Do you want to have a probationary period?
  • Who will bear the cost of transporting the horse at the end of the loan?
  • What costs will the party taking the horse on loan meet?
  • Must the horse be insured? By who? Ensure that the policy is not breached by putting the horse on loan.
  • Who has the authority to decide about the horse‚Äôs veterinary treatment?
  • If the horse becomes suddenly injured or ill, does the person loaning the horse have authority to determine its care? Who will pay for its care?
  • Is the person loaning the horse permitted to breed from it? If the horse has a foal, will it belong to the person loaning the horse?

These points are provided by way of example only and do not provide a comprehensive list of issues which may arise throughout a loan.

Contact us today on 0333 3398028 for a no obligation discussion with one of our equine solicitors about a loan contract.

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