Horse Agent Agreement
THIS AGENT DISCLOSURE AGREEMENT (“AGREEMENT”) is executed and made effective as of , by and between residing at , from here on referred to as “AGENT”, and residing at , from here on referred to as “BUYER”. This agreement will commence on and terminate as of .
A. BUYER is willing to retain the services of AGENT as a buyer’s agent, subject to the terms and conditions set forth herein;
NOW, THEREFORE, for good and valuable consideration set forth below, both BUYER and AGENT hereby agree as follows:
1. BUYER and AGENT acknowledge that AGENT acts as BUYER’s fiduciary with respect to its obligations under this AGREEMENT. The following acts or omissions, but not limited to these acts and omissions, shall constitute a breach of AGENT’S fiduciary duties to BUYER: (a) communicating any false or misleading information to BUYER regarding any horse under BUYER’s consideration as recommended by AGENT; (b) failing to disclose to BUYER the true price at which any horse under consideration by BUYER has been offered for sale at the auction; (c) arranging with any person or persons to bid on a horse for BUYER at an inflated price; (d) entering into any other agreement with any person with respect to any transaction involving the sale of a horse to BUYER, other than an agreement which has been fully disclosed to BUYER and which BUYER has consented to in writing; or, (e) failing to disclose to BUYER any ownership interest of AGENT in any horse BUYER has under consideration; (f) otherwise acting in any manner contrary to the best interests of BUYER.
2. AGENT further acknowledges to BUYER that AGENT understand his duty to disclose to BUYER any adverse interests AGENT has in a transaction concerning the subject matter of this AGREEMENT, including but not limited to disclosing any other person AGENT is acting on behalf of and any compensation AGENT is being paid. Accordingly, AGENT hereby declares that (Check the boxes that apply):
3. AGENT’s remuneration, unless otherwise disclosed in this AGREEMENT, for AGENT’s services in connection with the purchase of any horse by BUYER during the term of this AGREEMENT shall be . . Agent shall be paid per day and up to for expenses by BUYER for advice during the term of this Agreement, notwithstanding whether any horses are purchased by BUYER. AGENT is also awarded a interest in each horse they purchase for BUYER.
4. AGENT further acknowledges that failing to disclose and receive consent from BUYER for any adverse interest AGENT may have in a transaction concerning the subject matter of this AGREEMENT, including but not limited to acting as a dual agent, may constitute fraud and subject AGENT to civil and criminal prosecution.
5. BUYER hereby retains the services of AGENT as a buyer’s agent for the purposes of locating thoroughbred horses meeting the specific requirements of BUYER, and negotiating the terms of any purchase by BUYER.
6. AGENT shall use AGENT’s best efforts on behalf of BUYER to locate a horse(s) and to assist in the purchase of such horse(s) desired by BUYER at the lowest price that can be obtained during bidding at the AUCTION or at the lowest price offered by the seller(s) thereof.
7. This AGREEMENT constitutes the entire AGREEMENT between the parties. Any modifications or additions must be in writing and signed by all parties to this AGREEMENT. No oral modifications will be considered part of this AGREEMENT unless reduced to writing and signed by all parties before a notary.
8. This Agreement shall be governed by the laws of the State of , provided however, the parties agree to required Mediation and Arbitration of any disputes relating to this transaction. Any legal action commenced to enforce or interpret this Agreement shall be brought in state or federal courts with the appropriate jurisdiction, located in (City) (State) (Country). The parties hereto consent to both venue and jurisdiction.
9. BUYER and AGENT confirm they understand that this document is being provided to me by Pegasus App LLC for my convenience and in no way involves, includes or infers inclusion of the Pegasus App LLC in any actions, events or activated related to this AGREEMENT.
10. BUYER and AGENT agree that in the event that a civil, criminal or common law suit arises from actions, activities, misunderstandings or events, pertaining to this AGREEMENT, BUYER and AGENT indemnify Pegasus App LLC of any and all liability and/or involvement in the law suit, including prosecution in said law suit.
11. IN WITNESS WHEREOF, the AGENT agrees to these terms and executes this AGREEMENT, effective as of the date first written above.
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Document Name: Horse Agent Agreement
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