"The notion that we didn't pay "fair value" for the horse is bothering me. One can guess a "fair market value" for something "
If you run a horse stable I hope you are something of an expert in the field. You know what that horse is worth. If the lady had come back weeks later or months sure I could understand a deal is a deal. But in this case she phoned you back two hours later. Obviously the horse was worth at least $2500. Also you accuse her of horse stealing and I don't see anywhere in your story where this was a case of old time horse stealing. She called your wife on the phone. It was only a couple hours after the sale and not days, weeks, etc. She said she would wait for your wife to get back. If she hadn't called, hadn't waited, then yes. But that wasn't the case. In your wife's own words,
"She wasn't sure what to think or what to do. She was worried about being a hard **** as the woman has been going through some emotional and family stuff. Maybe she should just take payment and let her remove the horse. She was worried about "karma."
You can say what you want but you don't know for sure what was going on. Maybe her daughter was in the hospital and had gotten out. Dealing with family illness everyday people often keep these things private and try and go on with their lives. People are often in the hospital for a day or less to do specialized tests. I have a little girl right now that is six years old and has been in and out of the hospital over the last two months. She has gone on with her regular life though. Saturday she was even at a birthday party that my six year old went to. So you don't know for sure whether that was or wasn't a lie.
You also say that this lady is well off. How do you know that? Just going again from rumors? You don't know her situation for sure.
"By the way, while we may not have accepted a $600 "plain old sorrel" as satisfaction of a $1200 debt,"
So as long as you come out on the upside of the deal then that is ok. You sure aren't going to be on the downside of this deal, but if you can get a $4000 horse for $1200 then there is nothing wrong with that. You say she would have had to give you $600 to make the deal right. Yet you say that you shouldn't have to give her extra to make the deal right? So she gets on the short end of the stick by at least $1300 and that's just that. You had a personal interest in this horse and wanted him cheap. I mean let's at least call a spade a spade.
And one more thing to Cindy. In the case of vehicle reposession, mortgage foreclosure, etc. the assets are seized and they are sold at auction. A bank cannot make a deal like was made with this horse. When property is seized it must go through a public auction. The auction determines the fair market value. The proceeds from that auction are then dispersed. The bank is paid first and then the debit or credit from that sale is applied back to the persons account. If the item brought more than what the debt was then the person is given the difference back. The bank doesn't just get to keep the entire amount.
I like a deal just as much as the next person but I don't like getting them this way. I realize this kind of thing goes on all the time, everyday, especially with horses. Personally I think it was wrong. You think it was right. You certainly did everything according to the law. That's when it come down to what you are comfortable with. Obviously you are comfortable with your decision. I just stated my opinion on the situation. My opinion on things are usually in the minority so don't worry about what I say as I'm sure you are not.
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