How to word a reciept, and what situations would I have to refund the buyer

N

nikkinoo

Well-Known Member
Joined
9 March 2009
Messages
511
Location
Swansea
Visit site
I wont allow my horse to be taken untill I receive the final payment but how many installments would you deem fair for a horse costing £1500

I will be paid in cash so which way would you word your receipt, for each installment.

Also is there also any laws that will entitle the buyer to a refund, my horse is 100% sound and the person who is buying him knows him and has loaned him so does know him,

I am only selling as I really need the money and I dont want to have to refund the money as it will be going straight towards something else.

any advice greatly appreciated
 
I would suggest that the person loaning the horse will by now know the temprement of the horse if they have loaned it for a sufficient period of time. However, even though they know the horse make sure that they have the horse fully vetted so that there is no doubt of the horses state of health at the time of sale.
 
Receipt for £xx recieved in cash with £xxxx left to pay before complete sale of "horse name here". Sold as seen on 01.01.10, any condition/illness or injury after this date is responsibility of "new owner name"

is what I think I would put myself
 
Hi, sold as seen and tried after a loan period, will pretty much save you from ever having to refund.
Id have the instalments paid into your bank account by the other person and write a recipt out for each one that you both get a copy of.
Id also have a contract signed up at the begining of the instalments stating that until the last instalment is made the horse remains your property and remains on the current yard he is at now.
You shouldn't spend any of the money until its all taken, and the horse remains yours until the final payment is taken, if anything happens to the horse, ie it breaks a leg before its fully paid for then the money should be handed back and your insurance claimed on.

The best way to sell the horse really is for them to save up and then pay you in full, otherwise all sorts of problems can arise, ie the person stating they have paid more than they really have etc or just taking it away, and it would be a right pain to sort out in a small claims court.
 
fab some really good advice there, I will take into account all that you have said,

and I agree that if anything was to happen to him before I had all the money then I would refund,
 
You must log in or register to reply here.
Top