Question: Format: Single-spaced, one inch margins (all margins), Microsoft Word only, 12 point font, Times New Roman or Arial, first page should be a title page with your name, class and zap number on it. Number and label contract sections, double space between sections. Failure to follow this format will result in a 10% rate reduction. Length: Minimum 3 pages, maximum5 pages (including title page).
Instructions: Write a contract based upon the facts below. You may use information from any available source, e.g. textbooks, existing contracts, internet contracts, etc. (Sample contracts are available on the internet in a multitude of varieties. You should check some of them out before you begin this assignment,) you do not have to write in legalese. Everyday English will suffice. You may include as many sections as you want but at a minimum, you must adequately address the following issues:
1. Parties to the contract
2. Terms of the contract (effective date and/or term)
3. Consideration (payment, payment type and payment terms)
4. Default/Breach (damages and remedies)
5. Integration
6. Notice to Parties
7. Choice of law and venue
8. Modification
9. Attorney Fees
10. Signature of the Parties
If you include additional sections, make sure they relate to the scenario below. Be sure to read Chapter 18, Practical Contracts, before you attempt this assignment. This chapter gives you guidance on the requirements of a written contract. For this assignment, the UCC should not be considered.
NOTE: Your goal is to write a valid and binding contract that will hold up if challenged and that will protect you "client." You are not lawyers and I don't expect you to write like lawyers. Your grade will be based upon how well you identify and analyze the issues presented in the fact pattern and how well you write a simple contract to address those issues using the information presented in your textbook and any sample contract you find. Do not overcomplicate this assignment.
Facts: Your best friend, Chris Williams, is a competitive tennis player. While at the Australian Open, she ran into Martina Sharpo, a professional tennis player. Martina told Chris she had 4 tennis racquets that she would sell for $4,000. Chris will pay $1,000 down (cash) with the remainder to be paid in monthly payment of $600 (via money order) for 5 months to Martina. Payments will begin on April 1, 2017. All payments will be due on the first of the month. Chris must receive the tennis racquets in time to prepare for the summer tennis season. Chris wants a clause in the contract that if she does not receive the racquets by April 10, 2017, she will be allowed to recover the monies she has paid. If Chris does not pay, Martina wants a clause that she can recover the racquets. Chris knows you are enrolled in a Legal Environment of Business course and has asked you to help write a simple contract.