VOLUME 5 - 2012-2013 - ISSUE 2
5 Ky. J. Equine, Agric. & Nat. Resources L. 181 (2013).
DOLLARS AND HORSE SENSE: WHY PRUDENT BUYERS AND SELLERS SHOULD ACCOUNT FOR ARTICLE 2 OF THE UNIFORM COMMERCIAL CODE IN THEIR EQUINE SALES CONTRACTS
Article Written By: Veronica J. Finkelstein
Notwithstanding the importance of understanding the interplay between the U.C.C. and general principles of contract law, many parties buying and selling horses are uneducated about the U.C.C. Buyers and sellers routinely fail to account for the application of the U.C.C.'s default rules when drafting equine sale contracts. Even equine attorneys may focus on contractual remedies and overlook state consumer protection and U.C.C. remedies. To complicate matters further, courts apply numerous U.C.C. default rules and definitions when interpreting equine sales contracts. These default rules and definitions often conflict with equine industry norms in ways that can affect the outcome of a dispute. Prudent buyers and sellers should, therefore, consider and expressly account for these distinctions when entering an equine sales contract.