A sale of an animal is generally governed by the provisions of the Uniform Commercial Code, which, in UCC § 2-105(1), specifically includes the unborn young of animals in the definition of "goods.
A Missouri Contract of Sale for Unborn Foal is a legal agreement used in the state of Missouri to establish the sale and transfer of ownership rights for an unborn foal or a mare in foal. This contract is designed to protect both the buyer and the seller by outlining the terms and conditions of the sale. Key elements of a Missouri Contract of Sale for Unborn Foal include: 1. Parties: The contract will clearly identify the buyer and seller, including their full names, addresses, and contact information. It should also state whether the buyer is purchasing the unborn foal or the mare in foal. 2. Foal/Mare Description: The contract must provide detailed descriptions of the unborn foal or the mare in foal, including identifying characteristics, registration details (if applicable), and any known health or medical conditions. This ensures transparency and avoids confusion regarding the specific horse being sold. 3. Purchase Price and Payment Terms: The contract should outline the agreed-upon purchase price, any down payment required, and the payment schedule, including due dates, mode of payment, and potential late payment penalties. It may also include provisions for payment in installments or financing options, if applicable. 4. Delivery: This section specifies when and how the foal or the mare will be delivered to the buyer. It may include details such as transportation arrangements, costs, and liability, making sure both parties are clear on the delivery process. 5. Breeding Rights and Restrictions: If the contract involves a mare in foal, it may include provisions regarding breeding rights and restrictions. This could cover agreements on which stallion the foal will be sired by or limitations on future breeding of the mare. 6. Veterinary Examination: It is common to include a clause stating that the buyer has the option to conduct a veterinary examination or pre-purchase examination of the foal or the mare before finalizing the sale. This allows the buyer to ensure the health and soundness of the horse. 7. Risk of Loss: This section defines the responsibility and liability for any injury, loss, or death of the foal or the mare during the gestation period, as well as after delivery. It may also include provisions for insurance or a guarantee against specific risks. Types of Missouri Contracts of Sale for Unborn Foal: 1. Full Payment Contract: This type of contract is used when the buyer pays the full purchase price upfront, and the ownership rights are transferred immediately. 2. Installment Payment Contract: In this type of contract, the purchase price is divided into multiple installments, with the buyer making payments over a specified period. Ownership rights are transferred either gradually with each payment or upon the final payment. 3. Co-ownership Contract: A co-ownership contract is utilized when two or more parties agree to jointly purchase and own the unborn foal or the mare in foal. This contract will outline the rights, responsibilities, and obligations of each co-owner. It is important to consult with an attorney specializing in equine law when creating or reviewing a Missouri Contract of Sale for Unborn Foal to ensure compliance with state laws and to protect the interests of both parties involved.
