Question
Hello, are there any examples of a Business Law Contract with all of these parts included? I have attached the rubric and exact info I
Hello, are there any examples of a Business Law Contract with all of these parts included? I have attached the rubric and exact info I need to use. I would greatly appreciate any help, thank you!
Below is the rubric:
Proper identification of the parties / Forum clause - arbitration clause / Choice of Law Clause
/ Shipping Term - FOB Seller's Plant / Assignment Clause / Cosigner / Guarantor clause/ Insurance Clause/ Default defined as including late payment / Seller maintains possession of the title or original bill of sale until contract paid in full / Prohibitation on Liens and encumbrances. UCC-1 form completed / Interest rate does not violate state usury laws, proper sales tax charged / Restriction placed on moving the equipment / Default definition includes death, insolvency or bankruptcy of the Buyer / Maintenance and machinery operator clause./ Warranty - Limited or Full - disclaims all other warranties / Removal of "under seal" language / Reduction of the Statute of Limitations to one year after completion of the contract / Consequential damages clause / Force Majeure Clause / Integration Clause
Here is a copy of the exact info to use
CONTRACT PROJECT ASSIGNMENT
Students,
This assignment is designed to help you learn how to write the proper contract.
Activeparticipation in the Contract Assignment forum, as well as reading my forum posts and the posts of other students will greatly assist you. I may assign research on certain topics to students via the forum. Their responses, along with your own research, will greatly assist you with this project. Here is the scenario:
You are the owner of Supreme Packaging, Inc. Your business is located in Port Huron, MI. You sell customized packaging machines to businesses in the Port Huron area. One of your machines, model number ZZ249BUZZ, is particularly good at packaging marijuana in tamper proof opaque pouches that are also smell proof. Last week, you received an email inquiry from Chuck Sheener, a sole proprietor in Denver, Colorado (DBA Stoners R Cool) who wants to buy this machine, which retails for $25,000.00.
Upon reviewing Chuck's information, you discover that his business was established one year ago, and has a small number of customers. His credit rating is average, and he is only able to put a $2,000.00 down payment on the machine. You like his enthusiasm and drive, and he is well-connected in the Denver area which could lead to more business. You want to sell him the machine, but you also want to make sure that you are protected in this transaction in the event that Chuck defaults or his business files for bankruptcy. Chuck suggests paying in regular installments and is willing to pay a reasonable interest rate. He has not been able to secure a business loan because banks are still hesitant to lend to businesses engaged in the sale of marijuana.
Draft a sales contract for this transaction. USE THE CONTRACT TEMPLATE ON THE TIMELINE AS YOUR BASE DOCUMENT. This template is a good start. However, some clauses need to be added, some removed, and some need to have the wording changed. Make sure you include all of the elements required for valid sales contract, and provide adequate protection to your company in the event of a default. Consider whether you want Chuck to have the power to assign this contract to someone else. Also consider if the contract will allow for any late payments.
THIS ASSIGNMENT IS DUE AT THE END OF WEEK 14. THERE WILL BE AN ASSIGNMENT TAB ON THE TIMELINE FOR YOU TO SUBMIT YOUR CONTRACT.
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