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.
Texas Contract of Sale for Unborn Foal is a legally binding document that outlines the terms and conditions agreed upon by the buyer and seller for the future sale of an unborn foal in the state of Texas. This contract ensures that both parties are on the same page regarding the sale and purchase of the foal, mitigating any potential disputes or misunderstandings that may arise. The Texas Contract of Sale for Unborn Foal typically includes the following key elements: 1. Identification of Parties: The contract specifies the full legal names and contact details of both the buyer and seller involved in the transaction. 2. Description of the Unborn Foal: The contract provides a thorough description of the unborn foal, including its anticipated breed, color, markings, and anticipated date of birth. 3. Purchase Price and Payment Terms: The contract states the agreed-upon purchase price for the foal, as well as any additional fees, such as boarding or veterinary expenses. It also outlines the method and timeline of payment agreed upon by both parties. 4. Breeding Agreement: If a specific stallion and mare combination is involved, the contract may include the terms of the breeding agreement, including insemination fees, genetic testing, and any limitations or restrictions on future breeding rights. 5. Conditions of Sale: This section includes any warranties or guarantees made by the seller regarding the health, soundness, or registration status of the foal upon its birth. It may also address the possibility of a stillborn foal or any special provisions in such cases. 6. Medical Examinations: The contract may include provisions for the buyer to conduct a pre-purchase veterinary examination of the pregnant mare and/or require the foal to undergo a veterinary examination shortly after birth. 7. Risk of Loss and Insurance: The contract determines the point at which the risk of loss transfers from the seller to the buyer, as well as any insurance requirements or recommendations for the foal during its early stages of life. 8. Default and Remedies: This section outlines the actions that can be taken by either party in the event of a breach or default on the contract, including termination, reimbursement of costs, or legal action. 9. Governing Law: The contract specifies that it is governed by the laws of the state of Texas and any disputes will be resolved in the appropriate Texan court. Different types of Texas Contracts of Sale for Unborn Foals may be classified based on additional factors such as the involvement of third-party agents or brokers, specific breeding associations, or different provisions tailored to the specific needs and desires of the parties involved. Examples may include Texas Contract of Sale with a Broker, Texas Contract of Sale for Unborn Registered Thoroughbred Foal, or Texas Contract of Sale for Unborn Sport Horse Foal. These variations provide additional clarity and specificity to the contract to address the unique circumstances of the prospective foal's sale.
