Prepare a contract for a bill of sale to purchase and import an exotic expensive automobile for a fictitious client. The contract will set forth all of the following:
I. The names of parties - buyer(s) and seller(s), and identify:
a. Individuals or business entities?
b. If businesses, what type? (Partnership, LLC, Corporation, etc.)
c. Name of person signing on behalf of the business(es)
d. Signer's official title;
II. The specific terms of the sale including but not limited to:
1. Description of the product
2. Amount of the down payment
3. Allocation of costs
4. Method of delivery
5. Time for performance (delivery)
6. Insurance
7. Risk of loss
8. Warranties
9. Disclaimers
10. Limitations on liability
11. Liquidated damages
12. Time and the method of the final payment
13. Taxes
14. Interest
15. Late fees
16. Choice of governing law
17. Forum selection
18. Venue selection
19. Mediation and/or arbitration provisions
20. Statement that contract constitutes entire agreement
21. Severability of individual provisions
22. Signatures blocks of authorized signatories
Use the name of the street you grew up to create the name of the seller (the foreign entity seller). Use your favorite pet’s name to create the name of the buyer (your client the buyer).