[SOLVED] Parties to the contract
Submit in Microsoft Word via Upload Document (no email submissions)
Value: 100 points
Single-spaced, one inch margins (all margins), Microsoft Word only, 12 point font, Times New Roman or Arial, first page should be a title page with your name, class and section number on it. Number and label contract sections, double space between sections. Failure to follow this format will result in a 10% rate reduction.
Minimum 3 pages, maximum 5 pages (including title page).
Write a contract based upon the facts below. You may use 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 but when you start working on the assignment, make sure you use the appropriate type of contract.) You do not have to write in legalese. Everyday English will suffice. You may include as many sections as you want but at a minimum, you must adequately address the following issues:
Parties to the contract
Terms of the contract (effective date and/or term)
Consideration (payment, payment type and payment terms)
Default/Breach (damages and remedies)
Notice to Parties
Choice of law and venue
Signature of the Parties
If you include additional sections, make sure they relate to the scenario below. Be sure to read Chapter 13, Practical Contracts, before you attempt this assignment. This chapter gives you guidance on the requirements of a written contract. Th e answers to most questions can be found in Chapter 13.
If you need additional information which is not listed in the factual scenario below, you can supply (make-up) that information. You can only create information needed if it is not in the factual scenario below.
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 and any sample contract you find. Do not overcomplicate this assignment. For this assignment, the UCC should not be considered.
Your friend, Joe V. Awl, owns Bon Appetit Bakery, Inc. The business is just taking off but he does not have extra cash to pay an attorney. Joe knows the contract should be in writing and knows that you are enrolled in Legal Environment of Business. He has asked you to help write a simple contract.
Bon Appetit seeks to purchase 9,000 pounds of organic coffee beans from Gulf Coast Coffee Company, owned by Chris P. Cream, locate din Panama City, Florida. The agreement Bon Appetit has reached with Gulf Coast is to supply the coffee beans at $10 per pound. Bon Appetit requires that the beans be certified organic. Not only are the pastries delectable at Bon Appetit, but the people drive out of their way to get coffee there.
Delivery will take place in three shipments of 3,000 pounds each. The first delivery must be received by June 30, 2022 to ensure the bakery doe snot run out of its current supply. Each additional delivery must be made on or before the last day of July and August 2022. In the event the parties are happy with their agreement, the contract may be extended for one year.
Gulf Coast want to bill Bon Appetit on the date the order ships with payment due within 15 days from shipment. Chris also seeks automatic withdrawal from Bon Appetit’s bank account. In the event funds are insufficient to cover the cost of the particular shipment, Chris will charge an additional $75 per week thereafter in which the payment is not made (Assume this penalty is reasonable under the law and not usurious). Bon Appetit will pay shipping costs unless rush shipping is required to meet the delivery deadline, at which time Gulf Coast will be responsible for the increased cost.
If the first shipment is not received by June 30, 2021, Bon Appetit may cancel the contract. If there is a delay in a subsequent shipment and it is not received by the last day of the months specified in the contract, Bon Appetit will be entitled to a ten percent reduction in price. In the event the coffee beans are not certified organic, Bon Appetit may reject the beans, cover and recoup the difference between the cost paid to cover and the cost of the beans set forth in the contract.
If no payment is made within 30 days, the Gulf Coast wants a provision that it is relieved from further obligations under the contract. The parties also want a contract provision that in the event of some natural disaster, etc., performance pursuant to the contract is excused. The parties have agreed that Oklahoma law will apply.
Are you overwhelmed by your class schedule and need help completing this assignment? You deserve the best professional and plagiarism-free writing services. Allow us to take the weight off your shoulders by clicking this button.Get help