You are presented with a list of facts that you will use to draft a contract. In doing so, ensure that all elements of a contract have been met, and that you have drafted a valid contract. You should use the information you have learned in Modules 5, 6, and 7.
Listed below are facts you will use to draft a valid contract.
List of Facts
Your daughter, Susan, would like to take guitar lessons. Gary's Guitars at 486 Music Lane, in Rockville, MI 79236, is having an introductory special on lessons. Since you live near Rockville (336 Manderly Rd., Bluestown, MI 58369), you think this is a great opportunity for your daughter. Gary offers multiple options for lessons which are listed below.
Gary provides the guitar for a term of 6 months for a rental fee of $180. If you choose to buy a guitar at a later date from Gary, you may deduct the rental fees you have paid from the price of the new guitar.
You may provide your own guitar, in which case you do not need to rent one.
Weekly private lessons at 1/2 an hour a lesson are $35 a week, or for a 6 month commitment you can buy a package for $672.
Weekly private lessons for 1 hour are $60 a week, or for a 6 month commitment you can buy a package for $1152.
Group lessons are available for 45 minutes a week, at $25 a lesson.
If additional family members take lessons from Gary's Guitars, you receive a 10% discount for the second family member's lesson.
Assignment Instructions
You must draft a valid contract by choosing the terms that make sense for your contract from the list above. You may add additional terms as necessary to ensure that it you have a valid contract that both parties feel comfortable signing. Your contract needs to be organized in a meaningful manner allowing any reader to quickly locate key provisions of the contract. Be sure to include cancellation terms, dates of beginning and end, and signature lines. Like all business documents, ensure your document is free from spelling or grammar errors.
Refer to the section on Drafting a Contract in Learning Activities for a variety of contract examples.
After completing your contract, please include a short paragraph explaining how your contract meets the requirements to ensure its validity, (i.e., address how you have ensured that there is an offer, acceptance, consideration, and capacity).