Assignment 3

Instructions:

Write a contract based upon the facts below. You may use (copy or cut & paste) information from any available source, e.g., textbooks, existing contracts, internet contracts, etc. (Sample contracts are available on the internet in a multitude of varieties. You should check some of them out before you begin this assignment.) You do not have to write in legalese, everyday English will suffice. You may include as many or as few contract sections as you want but at a minimum you must adequately address the following issues:

1. Parties to the contract

2. Term of the contract (effective date and/or term)

3. Consideration (payment, payment type and payment terms)

4. Default (damages and remedies)

5. Entirety clause

6. Notices to parties

7. Governing law and venue

8. Signatures of parties

Be sure to read Chapter 18, Practical Contracts, before you attempt this assignment. This chapter gives you guidance on the requirements of a written contract. For this assignment, the UCC should not be considered.

NOTE:

Your goal is to write a valid and binding contract that will hold up if challenged and that will protect your “client”. You are not lawyers and I don’t expect you to write like lawyers. Your grade will be based upon how well you identify and analyze the issues presented in the fact pattern and how well you write a simple contract to address those issues using the information presented in your textbook in chapters 9-17 and any sample contracts you find elsewhere. Don’t overcomplicate this assignment.

Facts:

Your best friend, Chris Williams, is a competitive tennis player. While at the U.S. Open, she ran into Martina Sharapova, a professional tennis player. She told Chris she had 4 custom tennis racquets she would sell for $4,000.00. Chris will pay $1,000 down (cash) with the remainder to be paid in monthly payments of $600 (via money order) for 5 months to Martina. Payments will begin November 1, 2014. All payments will be due on the first of each month. Chris must receive the racquets before off season training begins on November 15. If she does not receive them by November 15, she would like a clause in the contract allowing her to recover the money she has paid. Conversely, if Chris does not pay, Martina wants to be able to recover the tennis racquets. Chris knows that you are enrolled in a Legal Environment of Business class at Rogers State University and has asked you to write a simple contract for the purchase of the racquets. You agree to help.