1998Julie I. Fershtman, Attorney at Law. Banks do it. Credit Card issuers do it.
Horses can be expensive, and buyers often want to spread out their payments over time.
Whether you are a lending institution or a horse seller, the business of extending credit can be risky. But that is where the similarities end. Banks and credit card companies protect themselves by demanding credit checks, financial disclosures, and detailed contracts before extending credit. Not so in the horse industry. Installment payment disputes are common in the horse industry.