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Contracts II 2013 Drafting Exercise (Counts 20% of Grade) 1. The assignment is to draft a contract of no more than four ( ) dou!

"e s#aced #ages$ that incor#orates the fo""o%ing facts& a. 'rt Conser(ators )odern Em#hasis$ Inc (*no%n as 'C)E$ Inc.)$ a )issouri cor#oration$ %as esta!"ished 1+0 ,ears ago to %or* on #reser(ing then modern #aintings. -f course$ the #aintings that the, no% s#ecia"i.e in are /uite o"d. The, restore #aintings for museums and #ri(ate co""ectors. !. The 0e"son1'*ins museum of 2eda"ia$ )issouri o%ns an 13th centur, #ainting that is in need of restoration. The #ainting is said to !e %orth 4120$000$ if in good sha#e. The 0e"son1'*ins museum is #"anning a sho% for 13th centur, #aintings and %ants to inc"ude this #ainting. The sho% is #"anned for 5u", 1$ 2013. c. The contract #rice for the restoration is agreed to !e 410$000 for the #icture and 41$000 for the o"d damaged frame. d. The de"i(er, date is agreed u#on as 5une 1$ 2013$ since the ad(ertising for the sho% %i"" inc"ude references to this #articu"ar #ainting$ among others. e. The museum is concerned that 'C)E %i"" !e "ate in com#"eting the %or*$ and %ants to create an incenti(e for them to finish on time. 'ccording",$ the museum has insisted u#on a "i/uidated damages c"ause (%hich 'C)E has agreed to) that %i"" re/uire 'C)E to #a, the museum 42+0 #er da, for e(er, da, that the #ainting is "ate. The museum a"so re/uires (and 'C)E has agreed) that 'C)E #a, the museum for an, damage that 'C)E does to the #ainting or the frame. f. 6our c"ient is the museum. 6ou are as*ed to draft the contract %ith an enforcea!"e "i/uidated damages c"ause as %e"" as #ro(ide a method for determining the "oss in (a"ue of the #ainting and7or frame$ if damage is done !, 'C)E. g. 8"ease inc"ude a"" other t,#ica" #ro(isions that ,ou !e"ie(e are a##ro#riate under these circumstances. 2. 8"ease de"i(er ,our com#"eted contract draft in hard copy, to 9i!!, 5ohnson$ in the 0hitta*er suite !, noon, Monday, April 15. 8ut ,our student num!er on ,our %or*. If ,ou ha(e /uestions a!out the tas*$ ,ou ma, as* 8rofessor Do%ns$ !ut ,ou are other%ise re/uired to do ,our o%n inde#endent %or* %ithout assistance.