This assignment requires you to revise a contract for the sale of a restaurant.

The contract you will revise is Sale Agreement for Restaurant Business.docx Download Sale Agreement for Restaurant Business.docx.

Download the agreement, make your changes per the instructions below, and then upload the agreement into the Canvas assignment.

Revise the contract based upon the terms you believe most appropriate.

Be sure to complete any and all missing information in the contract.

Whenever you see words $[$inside brackets and in italics$],$ you must complete those terms.

You will make up the names of the parties, addresses, dates, prices, and all missing information.

Your revisions must be done in Word using Review Tools, specifically: Track Changes. Please see the handout in the Assignments Module explaining how you use Track Changes in Word.

Use Track Changes so that your modifications, additions and deletions will be viewable to me$.$

Upload your revised contract, which must show all the changes, in Canvas.

When in doubt, please ask me$.$

Below are pointers to help you complete the contract.

The names of the Buyer and Seller needed to be business entities and include their designations as part of their names, i$.$e$.$ LLC$,$ Inc., or Corp.

You just need to describe the type of business, briefly, without the marketing.

Make sure the designation of schedule references and titles in paragraphs $1.$ and $6.$ match with the designation of schedules at the end of the contract, i$.$e$.$ Schedule A Property to be Transferred and Schedule B List of Creditors. You do NOT need to fill in the blanks of the schedules themselves. Include the title of the schedule.

The purchase price would be$,$ at least, six figures.

The deposit$/$escrow amount is usually $520\%$ of the purchase price.

The non$-$compete terms must be reasonable and enforceable.

A period goes after each abbreviation.

The liquidated damages usually equals the deposit$/$escrow being held.

Include the city and state in each address.

The names of the authorized representatives in the signature blocks are individuals who are the companies' officers. Attorneys would not be the authorized representatives to sign.

You do not need to add or delete whole or significant parts of sections. If you do$,$ you need to add comments explaining the major changes you made. Use the $$New Comment$$ Tool to explain why you modified, added or deleted language, if you made any major changes. $($See above.$)$

Your contract grade is based on the following percentages:

Relevant changes made to reflect the party$$s requirements, including all blanks appropriately completed $($or comments added, if needed$)$: $80\%$

Format, grammar, spelling, typos: $10\%$

Track Changes & New Comment Tools used: $10\%$