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QUESTION 1 10 points Save Answer Elizabeth is a sole proprietor who owns a pet store, Netherfield Pet Products ("Netherfield"), in Toronto, Ontario. She sells a variety of brands of pet food, with a focus on healthy, sustainable products. She is approached by Jane, who runs Darcy Gourmet Pet Foods ("Darcy"), a company that makes raw dog food using organic meat products. Jane would like Elizabeth to sell her products in Netherfield Pet Products. Elizabeth is interested in working with Jane, especially because she does not yet have a line of organic raw dog food to offer to her customers, and she thinks that offering an organic product line would help her attract new customers who prefer organic products. As an incentive, Jane offers Elizabeth preferential pricing for the first three months that Darcy products are sold at Netherfield: instead of her normal rate of $25/container of raw dog food, Jane will charge Elizabeth $20/container. After three months, Jane will sell her products to Elizabeth for "market price." Customers of Netherfield value having a predictable supply of their pet's food, and Elizabeth knows that the availability and price of organic meat products can vary throughout the year. Before agreeing to sell Darcy products, Elizabeth asks Jane how she can ensure that all orders will be fulfilled on time. Jane advises Elizabeth that she works with several different farms to ensure she has a steady supply of raw materials to make her products, but that supply shortages have occasionally required her to use a mix of organic and non-organic meat in order to produce enough dog food to fulfil her orders. Elizabeth advises that she is not comfortable telling her customers that a product is "organic" unless it contains at least 75% organic meat. Elizabeth inquires about delivery options, and Jane confirms that since her products have to be refrigerated or they will spoil, Darcy's refrigerated truck will deliver once per week, between 6:00 am and 8:00 am on the day of Elizabeth's choice. If Elizabeth is not there to receive delivery, the products will be left in front of Netherfield. Jane also advises that she will provide Elizabeth with a Darcy-branded refrigerator to use in her store to ensure that the products are kept at the correct storage temperature. After this discussion, Elizabeth decides that she wants to sell Darcy products at Netherfield. What does Elizabeth need to do to create a valid contract with Jane to supply Darcy products to Netherfield, and what terms should Elizabeth include in the contract in order to manage risk to her business?Alexander is the CEO of a newly formed events-planning corporation, King George Events Ltd. {\"King George\"}. King George was founded in the wake of the covidIS pandemic, with the goal ofcapitalizing on the public's renewed interest in attending concerts, festivals, and dance parties after nearlyr two years without these types of events. King George's business plan is below. King George Events Ltd. Business Identity: King George Events Ltd. Plans high quality musical events for sophisticated city dwellers. Target Market: Young professionals residing in Ottawa who enjoyr attending live events and want to socialize now that public health rules on gatherings have been relaxed. Revenue streams: King George will receive its revenue through the sale of tickets to concerts, festivals, and dance parties that will be organized in Ottawa throughout the summer and fall of 2021. Revenue will also be generated through the sale of food, alcohol, and merchandise at events. Marketing activities: King George will market its events through social media, partnerships with brand inuencers, radio advertisements, and billboards. Expenses: Payment for venue rentals, events and liquor permit fees, payments to artists and performers, insurance, food and liquor purchases, and staff wages. Team and Key Roles: CED, Events Planning Lead, Artist Relations Specialist. Events statfto be hired via a temp agency. Milestones: King George will organize one major event per month from July to December 2021. Prepare a Legal Risk Management Plan for King George Events Ltd. that identies legal risks and evaluates them. Discuss which risks should be avoided, reduced, transferred, and retained. Explain your reasoning for why you decided to deal with these risks in this way