Help-semen agreement issue

[box6rranch]

Well I think we are on our way to getting this ironed out. We have agreed to us having a 12 month period to have the bull collected one time at our expense.
Have a call into the ASA to figure out the semen certs.
Anyone else see anything else we need to do to cover our buns?

 

[Show Dad]

This is why I won't buy an animal that has residual genetic rights left to the breeder (seller). I guess it's an investment and I passed on a few. But as a buyer you assume all the risk. To many questions which someone will use as a loop hole if it wasn't spelled out. To me it would be like buying land with out the mineral rights.

My advice to you B6R is if you can't keep it simple then kick the deal to the curb and keep the bull. If you have to get a lawyer it is no longer simple.

With the emails you have proof of the details of the deal so you can use them to leverage your way out by calling him and telling him not to come and you have a check in the mail for the amount he gave you.

JMO <alien>

 

[GoWyo]

Amen, SD.  If there are reserved rights in the critter, it needs to be worth the hassle and expense of lawyering up and doing it right.  The more money or emotion at stake the bigger the resulting fight.

 

[dori36]

Well I think we are on our way to getting this ironed out. We have agreed to us having a 12 month period to have the bull collected one time at our expense.
Have a call into the ASA to figure out the semen certs.
Anyone else see anything else we need to do to cover our buns?

Only additional thought I have is who will be physically transporting the bull to the collection station?  If it were me who had bought the bull, and it was you transporting him, I'd want some assurance that I approved of the facility as well as assurance that there was some sort of coverage for the bull in case of a tragic accident while transporting.  I might consider adding to your pretty good agreement that they transport the bull at your expense to a facility that is mutually agreed upon.  

 

[jason]

Well I think we are on our way to getting this ironed out. We have agreed to us having a 12 month period to have the bull collected one time at our expense.
Have a call into the ASA to figure out the semen certs.
Anyone else see anything else we need to do to cover our buns?

Glad to hear it is going to work out.

 

[GoWyo]

If he is  valuable enough to warrant reserved rights, make sure you and new buyer have him insured with you as an additional loss payee if something happens to him before you get your collection done.

 

[Jill]

This bull wasn't a high dollar bull, I guess it comes down to how much are you willing to spend to get his semen?  Lawyers are expensive!  Hope it works out, if not I'd call it a valuable lesson learned and move on.

 

[box6rranch]

I appreciate everyone's input on this topic. I think we've come to very fair terms for both parties involved. Suppose to sign contract and transfer title and take possesion tomorrow. Keeping fingers crossed it goes off without a hitch.
You all have been invaluable with good advice and experiences. I'm humbled that folks on this site take the time to help others out.
It's hard to determine the value of the bull since he's yet to have calves. He comes from good stock and has had a reputable showing career.
Again my heartfelt thanks :O)

 

[RSC]

I appreciate everyone's input on this topic. I think we've come to very fair terms for both parties involved. Suppose to sign contract and transfer title and take possesion tomorrow. Keeping fingers crossed it goes off without a hitch.
You all have been invaluable with good advice and experiences. I'm humbled that folks on this site take the time to help others out.
It's hard to determine the value of the bull since he's yet to have calves. He comes from good stock and has had a reputable showing career.
Again my heartfelt thanks :O)

Glad it worked out. Good luck!

Tony