Business Law Draft Contract

timer Asked: Jun 12th, 2013

Question description

Horace Grump is an ornery, reclusive, 80-year-old bachelor. He owns a successful cattle ranch in Bisbee, Arizona. Six months ago, he fell off his favorite horse, resulting in fractures to both his legs. He has recovered sufficiently to perambulate with the aid of a walker. Horace now realizes that he is no longer physically capable to manage his ranch, but he trusts no one. Reluctantly, he contacts Nettie Samaritan, his niece and only living relative, to determine whether she would consider permanently relocating from Fairbanks, Alaska to Bisbee to manage the ranch. He has told Nettie that if she will relocate, he will take care of her and remember her in his will. Nettie has enjoyed a good life in Alaska. She has been attending nursing-graduate school and she has a wide circle of friends. Nettie is truly concerned about her uncle. She would consider the move, but she realizes that she would have to give up the "good life" in exchange for her uncle's vague promises. She is concerned about her moving expenses, completion of her education, compensation for managing the ranch and household, and what will ultimately happen to the ranch when her uncle dies. Draft a contract that addresses both Nettie's expressed concerns and the concerns of Horace and any other points that the parties may not have considered. Your contract should contain the essential elements of a valid contract. Hint--if the contract that you come up with is not one that you would advise Horace to sign (if you were a close friend of his) or not one that you would advise Nettie to sign (if you were her parent or best friend), then you should re-look at your contract's terms......proceed on the theory that the best contract is one

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