million! The Chablis must have been a better vintage than I thought, because I had no intention of agreeing to a price in excess of $15 million. Nonetheless, I signed a Purchase Offer in my capacity as President of Fly- by-Night Aviation, Inc. (Aviation). (A copy of the Purchase Offer is attached.) In my current nancial situation, I am simply unable to consummate this transaction. It would, of course, be most embarrassing if I had to admit my current nancial straits to Sam. There is a solution. I know that Sam's archrival, Rob Robertson, has coveted Sam's Icarus 1-800 for years and that Robertson would be willing to purchase the I-800 for a price in excess of $21 million. I'm sure that I can strike a deal with him under which Aviation will (a) assign all of its rights in the Purchase Offer to Robertson's holding company, The Robertson Jet Corp., a Delaware corporation (Robertson let); and (b) delegate its performance to Robertson Jet, which would assume Aviation's performance under the Purchase Offer and contemporaneously pay Aviation $1 300,000. I plan to speak to Robertson about this transaction in the next week or so. When I meet with him, I would like to show him at least part of the Assignment and Assumption. Accordingly, please draft the preamble, recitals, and words of agreement for the Assignment and Assumption and have it ready for my review as soon as possible. Also, be sure to check whether my company can delegate its duty to execute the promissory note. If there's an issue, write me a one-paragraph explanation of the law and how we can deal with the problem. In case you don't remember, your drafting textbook from law school had an example of an Assignment and Assumption [Document 3 , Chapter 32]. H .F. Purchase Offer Attached