Instructions:
Having reviewed the main contract concepts and learned the parts of a contract, you will try your hand at drafting a simple contract. For this assignment, you will draft a contract for the sale of a car. The facts for your provisions can be found in Exercise 5-1 of the Stark textbook. Do not include any other provisions. Assume that no statutes apply to the transaction.
Please use the House Purchase Agreement (Chapter 32, Document 1) as your precedent. The precedent is provided as a Word document so that you can directly edit it as you work on the draft together:
HousePurchaseAgreement.doc
TIP: Go through each fact and identify what part or concept it relates to and then start drafting.
Again, draft only the provisions that the facts call for above. It is irrelevant for this exercise that the House Purchase Agreement has other provisions. If the facts do not require a particular contract concept or contract provision, delete it from your draft contract.
– Please don’t use internet resources for completing this assignment. (IMPORTANT!!)
Addition Materials attached is the HousePurchase Agreement for this Assignment
Criteria For the Paper:
1. Preamble
Correctly identifies parties: Barbara Balram and Tom Rogers and Agreement Date (date assignment was due – March 27)
Fact #1
Fact #10
2. Recitals/Background
Briefly describes business deal per given facts.
3. Words of Agreement
Accordingly, the parties agree as follows
4. Definitions
“Car” means the car that is the subject of this Agreement. Save car details for representations and warranties.
5. This criterion is linked to a Learning OutcomeAction Sections
Subject Matter Performance Agreement
Payment (Purchase Price)
Fact #4
Term
Closing Date
Fact #7
Deliverables
6. Other Substantive Provisions/Contract Concepts
Representations and Warranties
Fact #2
Fact #3
Fact #5
Fact #6
Covenants
Fact #8
Rights
Conditions
Fact #9
Discretionary Authority
Declarations
7. Endgame Provisions
Captured business terms that cover the end of the parties’ contractual relationship.
8. This criterion is linked to a Learning OutcomeGeneral Provisions/Boilerplate Provisions
Identified provisions that govern parties’ relationship and administration of contract.
9. This criterion is linked to a Learning OutcomeSignature Lines
Identified parties correctly; matches Preamble.
Not on separate page.
10. Schedules/Exhibits
Textbook: (Mandatory Reference Material)
Drafting Contracts: How & Why Lawyers Do What They Do , Second Edition (Aspen Coursebook) 2nd Edition, Tina L. Stark.
ISBN: 978-0735594777
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