Situation 1

You and your 2 friends want to start a partnership business. You will be the managing partner in the business and want to have all control on decision making. Also, you are concerned that since your friends will be acting like sleeping partners in the business, they may one day leave the business and take away confidential information with them. Further, you also want your business to get dissolved if any of the other partners do leave the business.

Situation 2

Use the negotiation and the deal you made in Unit 2 (Ugli Oranges) exercise and create an agreement for the same. The case from unit 2 is:

Mary has lost her lamb. On Sunday, she ran an ad in the local paper offering $2,000 to anyone who has information that would lead to the return of her lamb. On Monday, as he was leaving his village store on a 4-day business trip, Jack saw a lamb behind some barrels in the alley behind the store. Since he was late, he scribbled a note with the directions and promised his stock boy Scott $50 to deliver the message to Mary. Scott, who is painfully shy but has a big crush on Mary, stuffed the note in his pocket and in his panic about what hed actually say to her, managed to forget to give it to her. On Tuesday, Jill was leaving the village store and she also spotted the lamb. She continued with her errands and on her way home, she went by Marys, but Mary was not home. She wrote a note and stuck it under Marys door.

Mary was despondent about her lamb and spent Tuesday night commiserating with her sister Mathilda, not returning home until Wednesday morning. Passing by the village store, however, she heard a little bleat and could hardly believe her eyes when she saw her beloved lamb standing in front of her. Nor did she notice that the lamb, hungrier than usual, ate Jills note that was on the floor as they entered their house.

On Thursday, John remembered that he had seen a lamb at the village store earlier that week and hurried over to Marys house, only to find the lamb already there. Mary met up with Scott a week later and Scott confessed to her that he had forgotten to give her the note from Jack. In the meantime, Scott had spent $50 on candies and flowers for Mary, thinking hed get it back from Jack.

Mary is happy about getting her lamb back. But now she hears about the story of Jack, Jill, and Scott all of whom saw her lamb, or knew where it was, and tried to contact her about it. She and Scott have come to you for some advice: she wants to know if she might have to pay any of them the $2000 she had offered as a reward. Scott wants to know if he will be able to collect the $50 Jack promised. And Mary wants to know if she may keep the candies and flowers.

Evaluation

	Unsatisfactory/Beginning (40%)	Developing (60%)	Accomplished (80%)	Exemplary (100%)
Elements Identification and explanation of contract elements. (30%)	Fails to identify relevantly contract elements or is not clear in describing how the contract has all the five elements	Identifies the contract elements but maybe too broad and is somewhat unclear. Ideas need to be developed further. The description of the contract elements is missing details or relevant facts.	Identifies the relevant contract elements and provides an adequate description of each element. Maintains readers interest and addresses all relevant details of the elements.	Identifies a relevant contract element and provides the point description of each element. All relevant facts related to each element have been adequately addressed and defended.
Legal Clauses Identification and explanation of relevant legal clauses added in the contract (30%)	Fails to identify a relevant legal clauses added to the contract or are not clear in describing why the contract has those clauses	Identifies the relevant legal clauses but may be too broad and is somewhat unclear. Ideas need to be developed further. The description of the clauses identified is missing details or relevant facts.	Identifies the relevant legal clause and provides an adequate description of these clauses along with their need and relevance. Maintains readers interest and addresses all relevant details of the clauses.	Identifies relevant contract elements' legal clauses and their need. Provides to the point description of all the clauses identified. All relevant facts related to each clause have been adequately addressed and defended.
Analysis Critical Analysis of Contract terms and conditions. Consider implications (20%)	Demonstrates a lack of understanding and inadequate analysis of the contract elements and clauses. The analysis is superficially based on opinions and preferences rather than facts and critical analysis.	Demonstrates general understanding with limited critical analysis of the contract elements and clauses. The analysis is mostly superficial based on opinions and preferences. Some analysis is based on facts and critical analysis.	Demonstrates an understanding and some critical analysis of the contract elements and clauses. Adequately compares/contrasts ideas and facts. Implications are stated but not as thoroughly explored.	Demonstrates a sophisticated understanding and careful, critical analysis of the contract elements and clauses. Compares/contrasts ideas and facts consider all relevant options and implications, and explores the impact of each one of them.
Evidence Evidence to support key ideas and analysis (10%)	Lacks sufficient research sources to support ideas and/or, if included, are generally not relevant, accurate, or reliable. Contains numerous factual mistakes, omissions, or oversimplifications. Sources, if included, are not properly referenced and cited in the paper.	Provides some evidence to support ideas with only a few research sources. Some sources may not be relevant, accurate, and reliable, and/or appropriately referenced and cited in the paper.	Provides essential, accurate evidence to support ideas with the required research sources. Sources are referenced and cited appropriately throughout the paper for the most part.	Provides compelling and accurate evidence to support in-depth the key ideas. Research sources are highly relevant, accurate, and reliable and add to the strength of the paper; and are effectively referenced and cited throughout the paper.
Writing Writing Quality & Adherence to Format Guidelines (10%)	The paper shows a below-average/poor writing style lacking in elements of appropriate standard English and following proper APA guidelines. Frequent errors in spelling, grammar, punctuation, spelling, usage, and/or formatting.	The paper shows an average and/or casual writing style using standard English and following APA guidelines. Some errors in spelling, grammar, punctuation, usage, and/or formatting.	Paper shows above-average writing style and clarity in writing using standard English and following APA guidelines. Minor errors in grammar, punctuation, spelling, usage, and/or formatting.	The Paper is well written and clear using APA guidelines and standard English characterized by elements of a strong writing style. Basically free from grammar, punctuation, spelling, usage, or formatting errors.

*******Elements and Legal Clauses section need to be 500 words EACH. The Analysis needs to be 300 words. And there needs to be Evidence provided, at least 150 words of that*******