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A stalking horse offer, agreement, or bid is a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act, in effect, as a reserve bid. [ 1 ] [ 2 ] The intent is to maximize the value of its assets or avoid low bids, as part of (or before) a court auction .
An agreement for the purchase of a horse had been completed between buyer and seller. Following the completion of the contract, the seller made a warranty that the horse was "free from vice". Upon delivery, it was discovered by the buyer that the horse was vicious in behaviour. The buyer consequently sued.
A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets.
The $34,000 purchase was made with a cash down payment and debt financing of the remainder, due in 1828, 1829, and 1830. The debt was guaranteed by a mortgage on Erwin's Louisiana land, and the mortgage eventually came into the hands of Lawrence Lewis , who later granted the same instrument to his daughter, wife of Andrew Jackson's former ward ...
In horse trading, an equine prepurchase exam is an examination of a horse requested by the buying party prior to the purchase, in order to identify any preexisting problems which may affect a horse's future performance and reduce buyer risk.
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