A contract lawyer’s job is to try to foresee what could happen, both good and bad, so let’s examine one possibility from each camp:
<ul>
 	<li>good: imagine the dream scenario where a syndicate horse becomes so successful that it is retired to stud / as a broodmare. What happens to the shares in that horse and how is any revenue to be distributed amongst the syndicator / club manager / members? There are lots of options here, so anyone setting up a syndicate / racing club should consider how to deal with this in the contract with their members.</li>
 	<li>bad: what if a syndicate horse sustains an injury and needs extensive medical treatment? As a syndicator, will you insure the horse? Will you add the members as beneficiaries? You are required to stipulate this in the contract with syndicate members. As a syndicate member, will you insure your share(s)?</li>
</ul>