Creating and analyzing a contract
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The project is to analyze a contract. Using an Internet search engine, find a free downloadable example of a contract (this needs to be a contract that can be downloaded into Microsoft Word). You may want to use key terms such as free, contract, or templates. Download the document into Microsoft Word. Using the comments option in Word, identify the basic elements of the documents, and the mandatory information required in the contract. Save the document with your comments.
In another Word document, answer the following questions in regards to the contract you chose to
analyze.
1. Create a scenario in which this contract would be used. Name the parties involved and give background information as to why this particular contract is being used. Are there third party beneficiaries involved in this contract? Who are they, and what role do they play?
2. Explain the laws that govern this contract. Use specific examples within the contract to support your answer.
3. Is this contract fair? Using specific examples, explain why, or why not.
4. Is this contract completely integrated or partially integrated? What type of parole evidence might be used to question the contract issues? Use specific examples that might apply to your type of contract.
5. Does this contract allow for the assignment of rights? Describe a situation in which this contract might be assigned, and discuss what should occur during this assignment to protect all parties involved.
6. Discuss what would need to happen if an obligor indicates he intends to appoint another person to perform his contractual duties.
Your research project (not including the contract) should be at least 1500 words and should follow APA format style.
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The following posting answers questions regarding creating and analyzing a contract.
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I have provided an outline using the questions as answers. You will want to put it in essay form using transitions and also some information that is provided in your text and lecture notes to complete the assignment. I find this is the best way to convey the ideas and direction without writing the essay for you, which is not allowed.
1. Create a scenario in which this contract would be used. Name the parties involved and give background information as to why this particular contract is being used. Are there third party beneficiaries involved in this contract? Who are they and what role do they play?
John Smith is renting a space from the company, LesMiles Condos (LMC). This lease is the standard lease used by LMC. It has the features needed to rent apartments, condos, and homes on the property and within the subdivision they manage. It allows for the basic information, consideration, offer and acceptance required for a legally binding contact.
John will also have a clear knowledge of what is considered acceptable behaviour and actions by the LMC company in relation to the home and the property. The terms of payment are spelled out as well. Items like access to the home by management or their representatives is in the contract as is the responsibilities of management in terms of upkeep of the property.
The company would prefer this contract because it gives access to the ...
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