In: Operations Management
You are a prominent lawyer representing entertainment industry individuals and high visibility professional athletes. Your client, Green Bay Packers quarterback Aaron Rodgers, wishes to buy Professor Conrad’s vintage Jaguar sedan which Conrad is anxious to sell to pay off gambling debts. Rodgers, hearing rumors of Conrad’s questionable character, retains you to ensure that the contract he’s about to enter into is a legal one.
Contract for the Sale of Used Car
This is a contract made between the Seller, Mark R. Conrad, and the Buyer,
Aaron Rodgers, for the sale of Seller’s vintage 1980 Jaguar four-door sedan in electric silver with sunset red leather interior.
The VIN number is 007-1950-BRLN-JLO-1971, and the odometer reads
173,000 km.
as of July 11, 2018.
The date of sale is July 14, 2018. Buyer agrees to pay to Seller the purchase price of $8,975 to be paid by a certified check issued by Wells Fargo Bank N.A., Minneapolis MN.
The car is sold “AS IS.” Seller makes no warranties about the condition of the car.
Seller will provide the Buyer with the vehicle’s title and the past twelve months service records.
_____________________________________ |
_________________________ |
_____________________________________ |
__________________________ |
_____________________________________ |
__________________________ |
Prepare a memo for client Rodgers identifying what elements are required to have a legal contract, e.g., “An offer”. For each element write a brief statement if it appears that element is present under the circumstances described along with the draft contract below.
Rodgers just needs the facts, so keep the memorandum brief. Along with commenting on each element, give Mr. Rodgers your final advice…sign/do not sign.
9002 East Chaparral Road, Scottsdale
AZ 85250
12 July, 2018
Aaron Rodgers,
5th Street, Hampstead,
California 211345
Subject: Elements required in the legal contract to be signed with Mark R. Conrad
Dear Aaron,
As was discussed, I was going over the case and was contemplating the terms and conditions which must be included in the contract to be signed with Mr. Mark R. Conrad.
A contract can be considered valid if it has the following components:
In my views, buying such an old car which has run quite a lot, with no warranty of the car condition is a risky deal. We have no clue how the car will perform in the coming days. Moreover we have not taken a test ride of the car and have no knowledge about the fuel consumption. If the objective of buying this car is just to add it in your car collection, then you must go head with the contract. However if you have plans to use the car for personal purpose, I would suggest you to kindly revisit this plan as the stakes are quite high.
Do let me know your viewpoint about the same.
Sincerely Yours,
Tina Hooks
XYZ Inc.