Module 03 Course Project – Contracts and Leases

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For this portion of your project you will be writing a contract for the business that you identified for the first part of your project. Based on the nature of your business, you will either be creating a Contract for Services Rendered or a Contract for the Sale of Goods. As a business owner it is important to draft a contract that you can use multiple times with the ability to modify it based on the needs of the contracting parties or the nature of the contract.

  1. In the first part of your contract, you need to identify the parties, the nature of the agreement (i.e. particular services or goods). Create a hypothetical situation based on your business that would require a contract.
  2. Include the standard

    boilerplate information

    that is contained in many contracts and modify them to be relevant to your contract. For example, you need to pick the proper jurisdiction for a choice of law/forum clause based on the location of your business. In particular, you will need to include the following clauses:

    • Merger and Integration
    • Choice of Law and Forum
    • Indemnification Language
    • Time of Performance
    • Arbitration
    • Savings (Severability)
    • Attorney Fees
    • Non-Waiver
    • Liquidated Damages
  3. Your contract needs to have proper formatting. Conduct research that highlights the different ways to structure your contract. The contract should be easy to read by all parties. Separate the parts of the contract with titles and be sure to clearly identify and number the various clauses. Make sure that your contract contains all of the basic elements that must be contained within every contract.


Module 03 Course Project – Contracts and Leases
OPERATION MANAGEMENT 5 Deciding on the Right Entity for Your Business Name: Rodney Wheeler Institution: Rasmussen College Course: B412/ENT4177 Section 01 Law, Ethics, and Entrepreneurship Date: 08/26/17 Brief Summary of the Business The business choice selected is Directional Educational Solution LLC, which is a company that is aimed at improving the educational aspect of the learning institutions. The purpose of the firm is to provide online and digital solutions to learning whereby the courses are covered from an online portal, and these courses can be easily updated for an adequate education. According to Hammer, (2015), most students and learning institutions are in need for online solutions for the learning process and this business opportunity would be important to utilize. Directional Educational Solution LLC will consider the needs of the students as well as those for the institutions which will employ the solutions. The business will focus on targeting organizations providing engineering and management education as courses, and hence the solutions will use online technology such as web sites for the provision of the learning resources. The business will use the human resources in the process of providing these services. The skills that may be targeted will involve skills in Information Technology, Business Management, Sales and Marketing, and operations management. According to Becker, Kugeler, & Rosemann, (2013), these are the vital workers that are essential to most businesses. Appropriate Business Organization The business organization of Directional Educational Solution LLC will be of importance since the team will help to ensure the operations of the business are conducted efficiently for proper organization performance. In this regard, the business structure will be streamlined in that the management of the same will be delegated from top to bottom. In this respect, the operations of the company will be managed by the senior management involving the managers and the operations will be delegated to all the other departments concerning the events that must be undertaken. This is helpful as the structure will ensure the business is well managed and hence the provide the same with increased profits. The different departments will be responsible for the updating of the courses on the online portal, ensuring the portal is online at all times and ensuring that the resources within the website are available at all times in the entrance. The ownership of the business will be a Limited Liability Company. According to, Kugeler, & Rosemann, (2013), when an organization has a proper structure in the management, the same experiences right management and increased efficiency in work delegation. It would thus be paramount that the Directional Educational Solution LLC business consider the named structure for them to benefit from the same. Hammer, (2015) suggests that the leadership of the company should be reviewed and selected appropriately to ensure that they are capable of standing with the firm for the same to be efficient. Assessment of the Business Structure With the business as a Limited Liability Company, the owners of the firm will benefit from not being liable for the debts of the enterprise. According to, Kugeler, & Rosemann, (2013), if the firm has any loans that they are unable to pay, the personal finances cannot be used to repay the debts of the firm due to the nature of being a limited liability company. In this regard, the character of the firm is critical and hence will be useful in the industry. References Becker, J., Kugeler, M., & Rosemann, M. (Eds.). (2013). Process management: a guide for the design of business processes. Springer Science & Business Media. Hammer, M. (2015). What is business process management? In Handbook on Business Process Management 1 (pp. 3-16). Springer Berlin Heidelberg.

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