Terminating Horse Loan Agreement

It is therefore essential to draw up a credit agreement adapted to specific needs and which should be signed before the start of the loan period. If you wish to borrow a horse, you should not accept a horse that is not accompanied by a valid and current passport. Verify that the name of the owner from whom you are borrowing the horse is the currently registered owner. There are always other topics that should be included in the agreement, which are specific to the loan in question, and therefore, the standard credit agreement “uniform for all” is not an ideal option if you take out a credit agreement. Be sure to consider all factors before lending your horse, especially the horse`s suitability, as well-being is of the utmost importance. The most common dispute a lender should pay attention to is a disagreement over what has been agreed as to who pays what. For example, if a large veterinary bill is charged and there is no insurance to cover that bill, there may be a dispute over who pays it. It may be that the borrower is responsible for the veterinarian`s bill, given that he owns the horse, but if it is the borrower who is the client of the veterinary practice concerned and if the borrower has ordered the veterinarian to visit the horse (which is most often the case since he has daily control of the horse`s care), the veterinarian must possibly follow the borrower for the payment of the horse. That`s the bill. The granting of credit can be beneficial for both the borrower and the owner. Buying a horse or pony can be expensive, so many people borrow a horse instead, as it eliminates upfront costs, but involves many of the same responsibilities as owning a horse…

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