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  • Posts by Phillip Scott
    Senior Partner

    Phil is a member of the firm's Litigation Department and is a trial lawyer in the Lexington office. He represents business clients in federal and state courts and in administrative proceedings. Phil has significant experience ...

A horse industry ethics bill making it unlawful to receive commissions from both buyer and seller without full disclosure sailed through the Kentucky General Assembly this session and was signed into law by Governor Fletcher on March 28, 2006. The new law, which took effect in July, will require written documentation of all horse sales involving more than $10,000 in addition to severely penalizing the practice of bloodstock agents receiving undisclosed commissions known as “dual agency.” The bill was sponsored by Louisville Democrat, Denver Butler, chairman of the House Licensing and Occupations Committee. However, the real impetus for the law was California winemaker Jess Jackson, better known for his Kendall Jackson wineries, who pushed for the legislation in the wake of a recent lawsuit he filed that complains of corruption in how thoroughbred horse sales are conducted. In his lawsuit Jackson has alleged that he has been defrauded out of millions of dollars by the practice of dual agency. The law has two main components: the written contract requirement and the restrictions on dual agency. 

The sands in the Arabian desert are constantly shifting. The one constant in Arabia for centuries is trade. Today, commerce remains at the fore front of the economies of virtually all of the countries in Arabia. Americans, however, have an image of Arabia that comes from the movies or the reports of the war in Iraq and essentially overlooks a bustling economy that exists in the region. As with all trading partners it is important to understand the dynamics of the countries and companies, as well as the individuals that you deal with in completing transactions.

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