1. Invent a product or service (can be an app.) This could be the one you previously identified or a different one. The product/service is one you will market for profit. Assume the product/service has been developed and created and is ready for distribution. Do not concern yourself whether it can reasonably be realized. Be creative!
2. Draft a contract for the sale of the product/service to a retail establishment. The retailer could be a brick and mortar store, restaurant, hardware store, online marketplace, etc.
3. The contract should contain the necessary elements of a contract in accordance, i.e., the contract should include 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. (For the description terms you can include what your item or service does or accomplishes.)
Also, very importantly, you are required to add at least seven (7) Boilerplate (common contract provisions) clauses which must include "arbitration" and "attorneyfees and costs" clauses. See attached for sample boilerplate clauses which includes definitions and sample language to include. (once assigned I will send you the document for this)
Your contract is worth 100 points; up to 50 points will be given for professionalism, which includes having a title for your document, proper formatting, alignment of paragraphs, spacing, spelling, and grammar; and up to 50 points on how well you incorporate all the necessary elements of a contract, including essential terms and boilerplate clauses, and followed the instructions. You must incorporate all elements described in this assignment in order to receive full credit. Points will be deducted for each term/clause not incorporated. This final contract is worth 25% of your grade.
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