Instructions: You are working in a law office. The law firm has a client “[INSERT NAME] AUTOWORKS”
located in Los Angeles, CA who sells exotic expensive automobiles from their small showroom. The Senior LawPartner asks you to Prepare a contract for the sale, purchase and import of exotic expensive automobiles for theclient. The seller broker/importer is “[INSERT NAME] GLOBAL X”.
Use your imagination based on what you would envision as your own exotic expensive dream cars, applying your knowledge of business, law and contracts. Use and insert the name of the street on which you grew up to create the name of the buyer (your client the buyer’s name). Use and insert the name of your favorite mythological character to create the name of the seller (the foreign entity seller’s name). Determine which type of business entities the parties are.
Be sure to include ALL the relevant necessary contract provisions drafting the contract. The contract must include all of the following clauses, as set forth, and in order, as follows:I. Introduction: In the introductory paragraph set forth the names of the parties to the written contract –buyer(s) and seller(s), and also identify:a. State parties’ names and types of business entity – whether a business organization or individuals?b. For each business entity, identify what type? (Partnership, LLC, Corporation, Limited Partnership,Limited Liability Partnership, Sole Proprietor, etc.)c. State the name(s) of person(s) signing on behalf of the business(es)d. State the signer’s official title for the company (Managing Partner, Managing Member, President,CEO, Sole-Owner, etc.)II. The specific terms of the sale including the following contract clause provisions:1. Description of the product(s) includingquantity, unit price(s) and total2. Amount of the down payment3. Allocation of costs4. Method of delivery5. Time for performance (delivery)6. Insurance7. Risk of loss8. Warranties9. Disclaimers10. Limitations on liability11. Liquidated damages12. Time and the method of the finalpayment13. Taxes14. Interest15. Late fees16. Choice of governing law17. Forum selection18. Venue selection19. Mediation and/or arbitration provisions20. Statement that contract constitutes entireagreement (Integration clause)21. Severability of individual provisions22. Time is of the essence23. Force Majeure (Act of God)24. Signatures blocks of authorizedsignatories with names typed in
Format: Your assignment should be typewritten and printed on paper (stapled together if more than one page)to be turned in with your name and class section number printed at the top of the first page. Use the SAMPLESsets of contracts and clause provisions (Word document) attached with this assignment, or you may performinternet searches to find the correct clauses and compose the contract.
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