Business law
1. Invent a product. This could be the product (can be an app) you have already submitted in your first week’s discussion or a new one. The product is one you will market for profit. Assume your product has been developed and created and is ready for distribution. Do not concern yourself whether the product can reasonably be realized. Be creative!
2. Draft a contract for the sale of the product to a retail establishment. The retailer could be a brick and mortar or online store, restaurant, hardware store, etc.
3. The contract should contain the
necessary elements of a contract pursuant to the UCC (Links to an external site.)
This includes specifics on terms such as description, price, quantity, shipping or delivery, payments, etc. You may use other sources beyond your textbook. Do not use terms you do not understand. Do not just “copy and paste” a contract you find on the internet. Make this contract yours. (Google sample contracts for the sale of goods for various sample templates.)
Also you are required to add at
least seven (7) “boilerplate” contract provisions (Links to an external site.)Links to an external site.
, along with an arbitration and attorneys fees clause.
Your contract is worth 100 points; up to 50 points will be given for professionalism, which includes title of document on top and centered, formatting, alignment of paragraphs, spacing, spelling, and grammar (no unnecessary underlines and deletion of any instructions and items in parentheses); and up to 50 points on how well you incorporated all the necessary elements of a contract and followed the instructions, including adding the 7 boilerplate provisions and an arbitration and attorneys fees clause. It is 25% of your grade.