Analyze a Factual Scenario and Draft a Simple Contract:
The purpose of this project is for you to sharpen your skills for analyzing and evaluating a factual scenario, and then draft a simple contract based on that scenario.
The Facts:
Clarice Daughtery has decided to sell her 1965 Corvette Stingray to Leonardo deCapo. Clarice has written the following note to Leonardo:
February 13, 2008
Dear Leo,
I will agree to sell my 1965 Corvette Stingray for $25,995.00, plus all title transfer fees.
Clarice:
About a month later, Leo scribbled the following on a napkin at the restaurant where he was dining: Dear Clarice "I accept. He then placed the napkin in an envelope and mailed it to Clarice's home in Beverly Hills, CA. Clarice has yet to receive Leo's napkin note.
Leonardo has come to the law office that employs you, Wie, Repree, Zent, Starz, and the senior attorney, Ms. Starz, has asked you to review the note from Clarice that Mr. deCapo brought, as well as a copy of the napkin note that he mailed to Clarice on March 12, 2008.
Your assignment is to write a one-page memorandum to Ms. Starz and address the issue of whether there is a binding contract between Clarice and Leo. Make sure you address the elements for a valid offer and acceptance, consideration, as well as any mailbox rule implications.
Then, regardless of what your opinion is regarding the writings exchanged between Leo and Clarice, you are to draft a simple contract between Clarice and Leo for the purchase and sale of Clarice's 1965 Stingray Corvette so that Leo may present it to Clarice for her signature. Remember, your firm represents Leo in this transaction, so make sure you protect him!