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What happens in the event of breach of the contract

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Reference no: EM132138882

Prof. Wendy Gelman

CONTRACT ASSIGNMENT GUIDELINES:

For this assignment you will be drafting your own contract. Your contract can be for a good or service and can be between 2 persons, 2 companies, or a person and a company. I will not be providing a template for this assignment because this is to be your own unique design; the format is up to you.

Your contract should be typed in 12 point Arial font and should NOT be more than 3 pages long.

You might want to consider the following terms and conditions when drafting your contract:

1. Does it satisfy all the legal elements of a contract? Go through each one and make contract is binding

2. What happens in the event of breach of the contract?

3. What are the damages? Types of damages? Remedies?

4. Does it have to be in writing?

5. What are the transportation terms if applicable?

6. Financing if applicable?

7. Termination of the contract or cancellation issues if applicable?

8. What type of clauses should be included?

9. Have you ever done business with this party? Are you merchants or nonmerchants?

10. Deadlines and time frames?

11. Is this contract for a good or a service? What happens if the goods are damaged?

12. How are disputes resovled?

13. Jurisdiction in case of dispute

14. Is this an online contract? If yes, what is the impact of it?

Reference no: EM132138882

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