Contract Drafting Outline

Contract Drafting Outline - McDonald’s would suffer if...

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Memo To: Jack Friery From: Date: December 10, 2011 Re: Contract Drafting Outline Clauses to be included in the contract: Names and addresses of the parties. What each party is promising to do. This would include the specification of the product, quality, and quantity to be delivered. In this case, the 10 thousand pounds of Asian sesame seeds delivered to McDonald’s. Where product will be delivered. In this case, St. Louis. The price - or how it will be determined. Also, when payment is due should be determined. Other things to consider are whether if there will be an advance deposit, if fee will be paid in installments, and if interest would be charged. The exact date and time of delivery should be included to avoid any damages to McDonalds since they have already invested in a campaign for their new burger. Consequences if product is not delivered on time. This includes damages that Seeds-R-Us should pay in case seeds are not delivered according to the time frame specified. These 1
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damages could include a fixed amount since it would be hard to determine the losses
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Unformatted text preview: McDonald’s would suffer if there is a breach of contract. • Consequences if McDonald’s cancels the contract. Damages for costs incurred by Seeds R Us. • Whether or not either party can transfer the contract to another person or company. • Specify consequences in case any party goes under bankruptcy. This clause is more to protect McDonalds since they are dealing with a much smaller company. • Conditions under which either party could terminate the contract. • A Force Majeure Clause should be included. This could specify enforceable events that could prevent Seeds R Us from delivering the seeds on time. • An indemnity clause. • A confidentiality clause since McDonald’s new burger the “Seedy Burger” is a new product that will be competing with Wendy’s for market share. • If a party breaches a contract, there should be a clause specifying if that party is responsible for the other party attorney’s fees and legal costs. Page 2...
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This note was uploaded on 12/10/2011 for the course LAW 203 taught by Professor Dunlap during the Spring '04 term at UCSD.

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Contract Drafting Outline - McDonald’s would suffer if...

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