Unit 05: Contract formation (solution)
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- 1) Use the Internet to find an example of each of the following documents:
• an agreement to sell/purchase a business;
• an agreement of merger and plan of reorganisation;
• a consumer loan agreement.
Simple open web search: specific agreement type
Standard open web search strategies (searches which look for information freely available on the web) are excellent for uncovering a wealth of information in broad areas of research such as this one. Google is often the best search engine to use for such searches.
Using the Google search engine (www.google.com), enter the following search queries:
agreement to sell a business
agreement to purchase a business
Although many hits are returned, it is not immediately obvious whether any of these include the type of document that you are looking for.
Compare this with the results of the following search query:
agreement of merger and plan of reorganisation
One of the first links returned is for Sample Contracts – Agreement and Plan of Merger – Second Cup Inc … .
This is exactly the kind of model merger contract that you have been asked to find.
Simple open web search: general law forms
If Google doesn’t return the kind of agreement which you are looking for, you may need to widen the search to a more general search for websites containing sample law forms. You can then follow one of the links and search for the document in the website provided.
Using the Google search engine, enter the following search query:
Alternatively, try the following search query:
It is possible to combine these two search queries in order to search for both terms in one search session. By using the tilde sign (~) in your search query, you can search for terms which are synonymous with or similar to the terms which follow (e.g. legal).
Enter the following search query:
One of the first hits returned is for FindLaw Forms.
Clicking on this link will lead you to the FindLaw Forms section on www.findlaw.com, a very useful legal research site.
On the left hand side of the screen you will see the Search FindLaw tool. Enter the following search query into Search FindLaw:
agreement to sell/purchase a business
This will lead you to many examples of agreements to sell/purchase a business, e.g. the agreement of sale and purchase between Surgical Health Corporation and Crescent Capital Trust.
NB One further source of useful legal documents is Onecle (www.onecle.com). Use this site to find different examples of the three types of contracts you have been asked to find and compare their wording.
2) Ensure that each of the example contracts you have collected includes a provision detailing remedies available in case of breach of contract.
To search text-heavy web pages for words or phrases, use your browser’s Find function: click Edit on your browser’s toolbar and select Find, then enter terms such as breach and remedy in the pop-up box. This will locate every occurrence of the term in the text. You can also bring up the Find pop up box by using Ctrl + F on your keyboard.
Compare the different provisions detailing remedies available in case of breach of contract. Are they adequate? If not, try to find better alternatives.
The following documents meet the required criteria:
A consumer loan agreement