In the Magazine: How Does Right of First Refusal Work?

Excerpt from the March issue of Heels Down Magazine.

When someone is selling a horse, particularly a companion horse or a senior horse, they commonly include a “right of first refusal” clause in their sale contract.

How enforceable is this clause? A right of first refusal essentially means that if the new owner wants to sell/give away the horse, they have to offer the horse to the person who sold them the horse. Concerns about the ability to enforce this are well-placed, however, if drafted correctly, the clause can act as a way of deterring the new owner from breaking that stipulation.

Of course, it is always best to hire an equine law attorney if you are unsure of how to draft a right of first refusal clause, but in the event that you do not want to spend the money on an attorney, you can always Google a sale contract with a right of first refusal.

Read the full article in the March issue of Heels Down Magazine. 

Download the Heels Down Magazine app in the iTunes AppStore: http://apple.co/1QicprS or Google Play for Android phones and tablets: http://bit.ly/1sXQV75.

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