1. Contract Terms: Below please find a hypothetical.

You work for Boat Building, Inc. ("BB"). Your company is a manufacturer of competition wakeboard boats. BB has developed a new prototype boat. With this boat, your Company has designed and engineered an innovative rudder. BB has already presold 100 of these boats to a distributor and has agreed to deliver the boats to this distributor in 180 days. Manufacturing should take 45 days.

You have been tasked with negotiating a contract with a 3^rd party vendor, Newco, to fabricate and build the rudders. Newco is a small company that has limited experience with rudders.

What are some important contract provisions to include in their contract? Please provide me a punch list (two sentences for each item) of 3 material/substantive terms that should be included in the contract and why the term is important? By way of example, if this was an employment agreement, wages, duties and responsibilities, place of work and term of employment are examples of key terms.

2. Most Useful Area of Law for your future endeavors.

In a paragraph, please let me know what area of law you believe will be most impactful for your business career and why.