Many equine industry activities, ranging from offering trail rides to entering into co-ownership agreements, are notoriously done on a “handshake” deal. Verbal agreements in the equine industry, however, may create unnecessary liability exposure, detrimentally affect the relationship between parties, render contract terms virtually unenforceable between parties, and ultimately result in many other foreseeable and unforeseeable negative consequences.
Written agreements in equine activities and transactions are legally enforceable if properly drafted and executed. There are liability protections afforded under various states’ Equine Activity Liability Acts to encourage the availability of equine activities. Many of these Equine Acts explicitly enforce written liability releases signed by participants, and most state contract laws enforce these waivers if properly drafted. Certain activities have additional liability exposures not covered by most Equine Acts, but may also be released in an enforceable liability release agreement. Syndicates and other forms of horse partnership agreements reduced to writing are also enforceable if properly drafted under applicable contract law.
Yvonne C. Ocrant, a Chicago based equine transaction and litigation attorney, discusses these liability protections, demonstrates how properly drafted contracts improve equine industry business relationships, explains how a written contract in specific equine activity transactions improves the enforceability of the intended agreement terms, and emphasizes how properly executed contracts are legally enforceable and worth more than the paper they are written on!
Excellent program! Really enjoyed the topic! Speaker very interesting and informative!