Legal Aspects of Horse Management

Lesson Four Quiz – Dealing with Deadbeats

Q1: When taking on a new client, which of the following steps should you take?

A: (a) Have them fill out an application

(b) Run a credit check

(c) Check their references

(d) Ask them for a deposit

(e) All of the above

Q2: On a separate sheet of paper, draft a sample application for new clients. In drafting the application, focus on what information should be included.

Q3: You are selling a horse that has been very difficult to market. Finally, you have a buyer, but when they arrive to pick up the horse, they have a personal check rather than a cashier’s check. The buyer is from several hours away and it is Sunday, so all of the banks are closed. You are a little nervous about it, but you decide to accept the personal check. What should you do first thing Monday morning?

A: (a) Deposit the buyer’s check in your checking account

(b) Drive to a branch of the buyer’s bank to present the buyer’s check for payment

(c) Call the buyer to see whether the horse destroyed their trailer on the way home.

(d) Deposit the buyer’s check in your desk drawer

(e) Thank your lucky stars that darned horse finally sold!

(f) Leave the check in the pocket of your Wranglers and forget about it until you pull your jeans out of the washer.