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buy backs - right of first refusal agreements
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Re: buy backs - right of first refusal agreements
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Lsrd1
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Jan 20 12 7:47 PM
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I stated in this in the other thread, and since this thread was created, you'll have to read it again: nope, never used one, never would, don't see the point. The horse is SOLD. If it was so super special to me, I'd keep it or lease it (although I know NO ONE around here leasing horses, everyone owns them or goes to a rent barn and rides a lesson horse). I don't even understand how the economics of it would work. If I sell a horse today for $1500, do I pay $1500 ten years from now to get it back? Horse might be 25 years old (if I sold it at age 15), and lame. But of course the buyers could easily argue that they put more than that into feeding and vetting over 10 years. If the contract said first right of refusal, they could simply tell me $1500, I would refuse and then they could do what they wanted, haul the horse to auction or whatever.
Or if I sell one today for $500 and it's an unbroke 2 year old. New folks have it for 5 years, it's broke out real nice, I certainly can't get it back to $500. Meh, I think it's pretty much a waste of paper. I'd really hate it if I bought a horse and the seller wanted to be almost stalkerish about what I was doing with the horse and such. It's my horse now!
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buy backs - right of first refusal agreements
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