AGREEMENT FOR SALE AND PURCHASE
of -----------------------------------
This agreement is made this ------ day of ------------- 201BETWEEN Name & Address ------------------------------------- (hereinafter called ‘the Vendor’).
AND Name & Address ------------------------------------- (hereinafter called ‘the Purchaser’)
WHEREAS :
A) “The Vendor” agrees to sell:
Name (Age & Colour by Sire and out of Dam) (hereinafter called “Name”)
B) “The Vendor” is the owner of the “Name” and warrants that “the Bloodstock” is owned free
and clear of all liens and encumbrances whatsoever.
C) “The Vendor” has good right and full power to sell, convey, and transfer “Name” to “The
Purchaser”.
D) “The Vendor” has agreed to sell and “The Purchaser” has agreed to purchase “Name”.
E) The purchase price for “the Bloodstock” is the sum of ??? Thousand Dollars
($NZ ?????) to “The Vendor”.
??F) The purchase price does not include GST as “Name” is to be exported and as a result the sale is
Zero Rated for GST purposes.
NOW THIS AGREEMENT WITNESSES as follows:
1. Sale and Purchase
1.1
“The Vendor” offers to sell and “The Purchaser” agrees to buy “Name” at and for the purchase price.
2. Payment of Purchase Price
2.1
The purchase price (NZ$---------) shall be paid by “The Purchaser” to “The Vendor” on or before Day
the Date of Month 201-
3. Conditions to be Fulfilled
“The Purchaser” reserves the right get “Name” inspected and vetted for suitability for racing, breeding and
insurance by a person or persons of his own choice on or before Day the Date of Month 201- at his own expense.
3.2 Should the results of the vetting and inspection as described in Clause 3.1 not be acceptable to “the Purchaser” then
the Purchaser may elect to treat this Agreement as void from the beginning and, in such event, no party will have
any liability to any other party arising from this Agreement.
3.3 “The Purchaser / Vendor” agrees to pay a commission equal to ? % plus GST (if applicable) of the Purchase Price
to ???Bloodstock Agent as agent once the sale has been confirmed.
3.1
Page 2
4. Purchaser’s Warranties
“The Purchaser” acknowledges and agrees that neither “the Vendor” nor the Agent (not any of their employees,
agents and other representatives) have made any representation to the Purchaser in respect of the health, condition,
suitability, quality, fitness, safety, soundness or fertility of “Name”. “The Purchaser” acknowledges and
agrees that, in entering into this Agreement he is relying solely on his own inspections and investigations in relation
to “Name” and has a reasonable opportunity to exercise those rights of inspection conferred upon the
Purchaser pursuant to Clause 3 above and takes the Bloodstock subject to any defects or imperfections whether
latent or patient.
4.2 “The Purchaser” acknowledges and agrees that it shall not be entitled to rescind or terminate this Agreement or
make any claim for compensation, damages or rebate of any kind whatsoever due to any error, omission or
misdescription in respect of:
4.2.1 the condition, soundness, fitness, quality, pedigree or performance (including racing performance) of any horse
mentioned in the pedigree of “Name”;
4.2.2 the relationship of “Name” or of a horse mentioned in the pedigree of “Name” to any other horse.
4.1
5. Possession and Risk
5.1 The Purchaser shall take possession of “Name” once payment has been made in accordance with Clause 2.1
5.2 All risk and obligations pass to “The Purchaser” immediately Clause 2.1 is satisfied.
6. Ownership
6.1 All legal title and property in “Name” remains with “The Vendor” until Clause 2.1 of this agreement has been met
by “The Purchaser”.
7. Insurance
7.1 The insurance of “Name” shall be the responsibility of “the Vendor” until Clause 2.1 has been satisfied.
8. Default
8.1 In the event that “the Purchaser” defaults in the punctual payment of any part of “the purchase price” or otherwise
does not comply with this Agreement in any material respect then “the Vendor” may be giving written notice to “the
Purchaser” to that effect:
8.1.1 charge or recover from “the Purchaser” interest on so much of “the purchase price” as remains due but unpaid at
the rate of twelve per cent (12%) per annum calculated on daily rests from the due date until the date of payment.
8.1.2 terminate this agreement.
8.1.3 bring proceedings against “the Purchaser” to recover damages for breach of contract; and or 8.1.4 sell “Name” to another person and bring proceedings against “the Purchaser” to recover any deficiency on
such sale, together with the reasonable costs and expenses of such sale or attempted sale or otherwise arising out
of the Purchaser’s default.
The Parties hereby confirm their agreement as above:
...............................................
As “the Vendor”
Signed at
on
Day /Month/ Year
Signed at
on
Day /Month/ Year
In the presence of:
...............................................
As “the Purchaser”
In the presence of: