Mycoplasma Bovis - Purchase of stock
When buying stock in this new landscape, having a written agreement in place and working with your lawyer is now more important than ever. Mycoplasma Bovis can be difficult to detect and having a well-drafted agreement in place when purchasing stock can provide a purchaser protection.
The written agreement will need to place obligations upon the vendor and provide a purchaser with warranties covering such information as;
- Animal health including disease and treatment history.
- Providing that the purchaser may reject stock as at the date of purchase on the basis that the vendor has not complied with warranties.
Having these warranties in a written agreement will provide protection so that if any of the vendor warranties have been breached, the purchaser may be able to enforce remedies against the vendor for any loss suffered by them.
A pre-purchase check list is available at http://www.dairynz.co.nz/mbovis along with practical tips.
The above information is of a general nature only. You should contact our firm for advice relating to your specific circumstances.
About Chris Boivin
Chris is a Partner advising clients on a wide range of matters. He assists with both commercial, rural and residential property matters, as well as business transactions and asset planning.