Question
Draft a contract for the sale of a vehicle using the facts and situation outlined below. Note that I am not expecting a long, detailed
Draft a contract for the sale of a vehicle using the facts and situation outlined below. Note that I am not expecting a long, detailed contract. Just a short concise contract - that meets the requirements of an enforceable contract
You can use Google to search for examples of contracts, but if you use an example you find online, do not copy it verbatim. Use the format of the contract, and then insert your own words/language. Also, do not worry about "legalese" - just prepare the contract in your own words. Again, I am not looking for a long, detailed agreement. You may also add facts and/or terms as needed, but you cannot delete facts.
The following are the facts to use to prepare the contract:
Sam Smith wants to sell his 1989 Toyota truck to Becky Jones. The total purchase price for the truck is $10,000. Becky has agreed to buy the truck, and pay Sam the $10,000 as follows: $2,500 at the time they sign the contract, then $2,500 every six (6) months until the full $10,000 has been paid in full. Sam has agreed to these payment terms, but will not transfer title and possession of the truck to Becky until she has paid $5,000 (i.e. after she make the initial $2,500 down payment and the first $2,500 installment six months later). Once she has paid the $5,000, they will meet to transfer the title and Sam will deliver the truck to Becky. Becky will officially own the truck and be able to drive it, but she still will have to make the remaining two payments of $2,500 to Sam. The truck is to be sold to Becky in its "as is" condition, except that Sam will provide a warranty to Becky that he is the owner of the truck and has the right to sell it.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started