play the role of an executive for one of these companies:a. ToyCo International Inc. - A business based in Vietnam, that manufactures arts and crafts materials for children, including paintable ceramic ornaments, figurines and other decorative items, as well as paints that can be applied to the ornaments.b. Krafty Kids Corp. - A Canadian business that assembles, packages and sells children's craft kits. Krafty Kids buys the components of the kits from different providers, assembles and packages the kits and sells them to retailers in Canada, including Walmart and Toys"R"Us. The craft kits sell for an average retail price of CDN$40 in retail stores.

negotiate a term sheet for a contract for the sale of Christmas and other holiday-themed ceramic ornaments and paint sets by ToyCo to Krafty Kids. Krafty Kids will include these materials in their holiday craft sets to create hand painted Christmas tree ornaments, figurines and other holiday-themed decorations. The kits will be sold in Canadian toy stores and other retailers for the 2022 winter holiday season (November - December 2022). Prepare (in advance) for the negotiation of your contract by considering the elements and terms that you would like to have in your term sheet; o Then, meet with your partner (the executive of the other company) to negotiate and create a term sheet together for the sale transaction.

PART A - Term Sheet - Using the attached template, list and explain ten (10) elements (or terms) that you have agreed to include in your term sheet (and ultimately in the final contract) with the other company; For each term, provide details of the term; and reason for including it. Be as specific as possible. For example, you may want to address payment terms, currency, shipping and delivery arrangements, and dispute resolution. You may improvise or add facts if needed. Do not include the example provided