Assignment Course Learning Outcome (CLO 5) Objective:

Develop critical thinking skills as applied to business situations.

Instructions

Considering the concepts in Module 4, read the following hypothetical situation and draft a legally enforceable contract given the facts in the summary. Your project is to draft a legal contract with terms that both the buyer and the seller can agree to.

Scenario

You own a small business called "Fur-Ever Champion Show Dogs" and your beloved German Shepherd dog, Generous Offer, has just given birth to a litter of purebred puppies. You would like to sell the puppies for $2000 each. You know you need to have each buyer sign a contract so that there will be no misunderstandings in the future.

Mr. Snoopy Dogg wants to buy one of your puppies. Mr. Dogg eventually intends to show this dog in the American Kennel Club (AKC) Championship Show and wants your guarantee that the dog will do well and win prizes. He insists that he will not buy the puppy unless you can guarantee him that the puppy will win prizes.

Create a contract in which you sell one of the purebred puppies to Mr. Snoopy Dogg for $2000.

It is a brown, male dog, named "King of Contracts."

His litter registration number is 02500. His Sire is "Legal Star"; registration number 5544332. His Dame is "Generous Offer"; registration number 9977886.

Keys to this contract assignment:

• The contract should clearly identify the parties, the details of the transaction (price to paid, information about the puppy, delivery, terms to to limit liability - guarantees, refund policy, etc.).
• It should provide for which law regulates the agreement and address dispute resolution.
• This contract should address any special conditions in the transaction - in this case - the care and treatment of the puppy, guidance on health, training, etc.
• Contracts must be enforceable, containing all required material and fundamental terms.
• Contract terms should be clear and unambiguous and relevant to the transaction.
• Contracts should be organized in a logical manner making it easy to follow.
• Contract should be written clearly, professionally, and with proper grammar, spelling, punctuation, and syntax.
• Provide for signature acknowledgment.
• Cite your sources or template (if used).

The key to success with this contract is to remember that parties can agree to any terms they want (as long as they are legal) and the buyer of this dog wants a guarantee that the dog will win prizes.

Source: Strategies for Success: A Resource for Faculty and Students Middlesex Community College, Bedford, MA