Another thing to consider...
If a horse is sold as registered, and the papers are NOT correct or produced, IMO, that can be considered fraud. If the breeder/seller fixes the problem, (at their expense) that is an error, and forgivable...but to avoid the buyer, and not make it right...to of KNOWINGLY misled and "rooked" the buyer, that IS fraud, no doubt about it. Yet, so many times right here on this forum, I have heard others actually defending this policy by going on about "buyer beware"...etc...putting the blame on the buyer's shoulders...making them feel like fools. THAT is wrong on so many levels.
Then too, I have read, too-too many times, of folks having PAID big $$ for a registered horse, which ends up having no registration at all, saying "Oh well, I was taken, but I will keep said horse because we love him so?. Well, see, that is exactly what these crooked breeders/seller WANT? You think they don't KNOW that these horses will eventually just be kept, the $$ not returned and no one can say who they were ripped-off by publicly? HMMM...I wonder if "there's an app for that"??