MAEKETS AND SHOWS 299 



Sex — As a nile geldings outsell mares on account of their 

 more general usefulness throughout the season and also in view 

 of the possibility of mares being in foal. Spring farm trade 

 may demand mares. 



The Origin of Market Classes. — The origin of market classes 

 is based on utility. Horses are required to perform a certain 

 kind of service, and it is determined that tliose of certain definite 

 features are better adapted to do this particular line of work than 

 horses of any other sort. Thus, demand takes the form of 

 specific requirements by the consumer, and there are created 

 distinct market classes. Some of the classes are more or less 

 arbitrary as to name and requirements, so that on different 

 markets it is not always easy to distinguish between them. The 

 major divisions, however, can be differentiated on the broad 

 basis of type. 



Market horses are, first of all, either classified or unclassified 

 (see chapter on the Classes of Horses). 



Sales are either public or private. Public sales are con- 

 ducted by auctioneers and dealers; private sales by private 

 owners and dealers. Sales, whether public or private, are usually 

 followed as soon as possible by a transference of the horse to the 

 buyer, who is allowed two days in which to give the horse fair 

 examination and trial, at the end of which time, if the horse is 

 not returned, the sale is considered complete. " Two days " is 

 the rule most strictly abided by, but under certain conditions 

 this may be extended to ten days or even two weeks, if so stated. 



Letters or evidence bearing upon a contract may complete it 

 m law, -so that when horses are bought by correspondence the 

 letters and documents act as a part of the contract. 



When any defects or unsoundnesses, other^vise apparent, are 

 purposely covered up or hidden in any way, and discovered after 

 the sale, the buyer- has redress. The measure of damages he can 

 recover is the difference hehvee7i the price paid hy him and the 

 price he receives upon selling the horse in an open marhet. 



Auctioneers are usually licensed as such and are legally 

 bound to conduct their sales under certain conditions. 



Conditions of Sale. — ^The buyer should familiarize himself 

 with the conditions of sale. In all cases horses must be as rep- 



