William & Mary Business Law Review
Abstract
Horse racing is one of the largest, most lucrative industries in the United States, but state laws regulating the exchange of billions of dollars through the sales of Thoroughbred racehorses remain inconsistent. Moreover, ethical issues such as poor breeding practices tarnish the reputation of the sport, detracting viewers and consequently endangering the future livelihood of the racing industry. Litigation over birth defects in Thoroughbreds is common, prone to appeal, and expensive. But, this litigation could be mitigated through the use of written warranties in the sale of these highly valuable horses, pursuant to and supplementing the statute of frauds and various provisions in the Uniform Commercial Code (U.C.C.). Requiring and enforcing written warranties, especially in the states with a vested economic interest in the success of Thoroughbred racing, would hold breeders accountable for the well-being of their animals and help to curb the ethical issues causing the decline in popularity of the economic engine that is Thoroughbred racing.