Suppose your 18-year-old brother is a bit confused about what to do after graduating from high school. He has come to stay with you fora while, and in his boredom has recently opened up a lemonade stand in front of your house. You are skeptical, as this seems like something a child, rather than a young adult, should run. However, he was a very successful lemonade stand operator when he was a child, and he has actually been making somesignificant money with his small business One of the reasons for his success isthat he purchases very fresh lemons from his friend Peter down the street, who has three lemon trees in his back yard. Your brother is good friends with Peter, but sometimes they fight. You want to make sure your brother has a steady supply of lemons, in case he gets in another fight with Peter
For this assignment, carefully review the background readings that cover the main elements of a contract. Then, write a short 1- to 2-page contract, specifying an agreement between your brother and Peter regarding the purchase of lemons. Include the main elements of a simple contract specified in the background readings. In addition to the short contract, include a few paragraphs at the end, explaining which background readings you consulted for your contract and how you used these readings to decide on what to include in your contract.
Required Background Reading Material: Singh, A. (2010).Chapters 1 – 4. Business and Contract Law. Thorogood Ltd. DuBoff, L. (2004).Chapter 6: Contracts. Law in Plain English for Small Business. Sphinx Publishing, Naperville, IL
Pakroo, P., & Stewart, M. (2016). Chapter 10: Entering into contracts and agreements. The Small Business Start-up Kit: A Step by Step Legal Guide. Berkeley, California:
Kelley, G. (2012). 2.2 Principles of contract law.Construction Law: An Introduction for Engineers, Architects, and Contractors.John Wiley & Sons, Kingston, MA., pp. 15-21.