Business Law Contract Negotiation Paper
Business Law Contract Negotiation Paper
Business Law Contract Negotiation
Contract Negotiation Assignment
Objectives
For this assignment, you will negotiate and draft an international contract. The purpose of this exercise is to:
• Negotiate an international sales contract.
• Familiarize yourself with common contractual clauses.
• Increase your awareness of the terms and conditions for an international contract.
• Experience capturing key legal issues of concern for your business in a legal contract.
• Enhance your appreciation of cross-cultural business dealings.
• Refine your oral and written communication skills.
• Improve your understanding of contract law.
You are required to submit four documents for this assignment with details outlined below.
Documents that Must Be Submitted to DROPBOX for Grading
• Strategy/Goals Document (D2L) – 25 points. Use the first week of this assignment to prepare your strategies
and goals. You do not meet with the other side prior to completing your Strategy and Goals document. Do not
discuss your strategy and goals with anyone else in this class, you can bounce ideas off friends/family. Use a
bullet point format for the document and divide it into three sections – see samples below. For the strategy and
cultural approach, you can use a paragraph format if that works better to describe your approach.
• Strategy. How do you plant to approach your first negotiation meeting from a strategy perspective? Add
some specificity and contingency planning.
• Cultural approach. Will you do anything different based on the different culture? What? Why? I
understand that most of you are not aware of the Mexican culture in any significant details, so please send
a little time to research how you might approach any cultural issues and have a plan. One side is supposed
to be Mexican. I expect that side to do similar research and behave accordingly (basically do the same sort
of research that the American side does but with a view of noting how you would likely behave differently
and how you might approach an American company differently). This part of the exercise is more
research/academic based and you do not need to play the cultural role in your negotiation. Today’s
business environment expects understanding of various cultures without stereotyping and this assignment
asks you to practice walking that line.
• Contract Provision Goals. What do you expect the price, quantity and other terms to be? Why? This should
include a list of the key provisions you believe are worth negotiating. Please use a chart as illustrated below.
Strategy Comment
Set High Initial Price
Anchor
I plan to start with a very high price to allow room to negotiate to a lower price
Win/Win I plan to offer my best price immediately and explain why it’s a win for both sides.
Cultural Approach Comment
Ask About Family I (US Company) plan to ask about the other side’s family prior to negotiating as I
understand Mexican culture is more likely to mix family and business and this
may be a more comfortable approach than our normal style of jumping right into
the business deal.
Direct Discussion I (Mexican Company) plan to be more direct in my discussion of the business deal
than I normally am in an effort to accommodate a perceived interest in Americans
to get to the deal facts quickly. Term Goal Result Explanation
Price $xx $xx Goal: I believe this is a reasonable price for our product and plan to achieve
this goal and will not negotiate below this point.
Result: (complete at the end of the project as part of the assessment). Add
a comment for your result after you complete the negotiation.
Add more
rows for
more terms
• Draft Contract (D2L) – 25 points. Each person will prepare a draft of a contract based on the negotiation results.
Before completing the draft, you will have to have concluded your negotiations with the other side. I suggest
the actual negotiation should take no more than one hour, but you may take longer and it could be a series of
short meetings rather than one longer one. You are expected to reach a deal. Below is some detail on what’s
expected in the contract.
• Key Terms. Based on your negotiations, each student drafts a formal legal contract that includes the key
terms you agreed to with the other side. I understand that you are not lawyers and that we are not using
extensive class time to discuss contract drafting or contract terms. I expect you to review the sample
contracts on the website, look for a few more samples you may have (cell phone, apartment, car, find on
online, etc.) primarily to see how a contract looks and to get ideas for terms. Use the narrative provided
(your confidential information) to make sure you include terms that are key to your side. KEEP IT SIMPLE. I
expect you to borrow some clauses and ideas from what you find online but keep the legalese to a
minimum and keep clauses very short. I want to see enough that you thought of the issue and agreed to a
position. If you can effectively convey what you agreed, this skill will serve you well in giving a good
document to an attorney to draft an agreement for you in the future. That means you included the key
negotiated terms and what is important to you, but you allow the attorney to turn those items into
litigation proof documents.
• Heading of Contract. There are many methods to introduce a contract, but think a bit about how to title it and
initiate the contact.
• Signature Section. See next section below.
• Signed Contract (D2L) – 25 points). The parties should meet to discuss and compare the written contracts. One
of the written contracts should be selected for the basis of the final agreement. One signed contact is handed in
for the two groups together. After any necessary negotiations and changes, the contract should be signed at the
bottom as follows (or using another acceptable format – this format is actually a bit clumsy but good to know:
Agreed to and executed this _____ Day of ____________, 2020.
XContraptions, Inc. Camion Ranchero
________________________ _____________________________
By: ____________________ By: _______________________
Its: ____________________ Its: _______________________
• Assessment against Goals (D2L) – 50 points. Each student also completes an assessment of how you did against
the student’s goals. This should be a short explanation of how you did in negotiating your key terms. Include an
explanation if the terms deviated from your goal. Please put together a table showing your key goals/terms and
result. Use the same table from your goals and add – don’t delete. Also in this document, explain any cultural
issues that arose in the negotiations (this part is only necessary if something actually arose and I will use your
comments in your initial goals document to ensure you considered cultural differences).
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Business Law Contract Negotiation Paper
Business Law Contract Negotiation
Contract Negotiation Assignment
Objectives
For this assignment, you will negotiate and draft an international contract. The purpose of this exercise is to:
• Negotiate an international sales contract.
• Familiarize yourself with common contractual clauses.
• Increase your awareness of the terms and conditions for an international contract.
• Experience capturing key legal issues of concern for your business in a legal contract.
• Enhance your appreciation of cross-cultural business dealings.
• Refine your oral and written communication skills.
• Improve your understanding of contract law.
You are required to submit four documents for this assignment with details outlined below.
Documents that Must Be Submitted to DROPBOX for Grading
• Strategy/Goals Document (D2L) – 25 points. Use the first week of this assignment to prepare your strategies
and goals. You do not meet with the other side prior to completing your Strategy and Goals document. Do not
discuss your strategy and goals with anyone else in this class, you can bounce ideas off friends/family. Use a
bullet point format for the document and divide it into three sections – see samples below. For the strategy and
cultural approach, you can use a paragraph format if that works better to describe your approach.
• Strategy. How do you plant to approach your first negotiation meeting from a strategy perspective? Add
some specificity and contingency planning.
• Cultural approach. Will you do anything different based on the different culture? What? Why? I
understand that most of you are not aware of the Mexican culture in any significant details, so please send
a little time to research how you might approach any cultural issues and have a plan. One side is supposed
to be Mexican. I expect that side to do similar research and behave accordingly (basically do the same sort
of research that the American side does but with a view of noting how you would likely behave differently
and how you might approach an American company differently). This part of the exercise is more
research/academic based and you do not need to play the cultural role in your negotiation. Today’s
business environment expects understanding of various cultures without stereotyping and this assignment
asks you to practice walking that line.
• Contract Provision Goals. What do you expect the price, quantity and other terms to be? Why? This should
include a list of the key provisions you believe are worth negotiating. Please use a chart as illustrated below.
Strategy Comment
Set High Initial Price
Anchor
I plan to start with a very high price to allow room to negotiate to a lower price
Win/Win I plan to offer my best price immediately and explain why it’s a win for both sides.
Cultural Approach Comment
Ask About Family I (US Company) plan to ask about the other side’s family prior to negotiating as I
understand Mexican culture is more likely to mix family and business and this
may be a more comfortable approach than our normal style of jumping right into
the business deal.
Direct Discussion I (Mexican Company) plan to be more direct in my discussion of the business deal
than I normally am in an effort to accommodate a perceived interest in Americans
to get to the deal facts quickly. Term Goal Result Explanation
Price $xx $xx Goal: I believe this is a reasonable price for our product and plan to achieve
this goal and will not negotiate below this point.
Result: (complete at the end of the project as part of the assessment). Add
a comment for your result after you complete the negotiation.
Add more
rows for
more terms
• Draft Contract (D2L) – 25 points. Each person will prepare a draft of a contract based on the negotiation results.
Before completing the draft, you will have to have concluded your negotiations with the other side. I suggest
the actual negotiation should take no more than one hour, but you may take longer and it could be a series of
short meetings rather than one longer one. You are expected to reach a deal. Below is some detail on what’s
expected in the contract.
• Key Terms. Based on your negotiations, each student drafts a formal legal contract that includes the key
terms you agreed to with the other side. I understand that you are not lawyers and that we are not using
extensive class time to discuss contract drafting or contract terms. I expect you to review the sample
contracts on the website, look for a few more samples you may have (cell phone, apartment, car, find on
online, etc.) primarily to see how a contract looks and to get ideas for terms. Use the narrative provided
(your confidential information) to make sure you include terms that are key to your side. KEEP IT SIMPLE. I
expect you to borrow some clauses and ideas from what you find online but keep the legalese to a
minimum and keep clauses very short. I want to see enough that you thought of the issue and agreed to a
position. If you can effectively convey what you agreed, this skill will serve you well in giving a good
document to an attorney to draft an agreement for you in the future. That means you included the key
negotiated terms and what is important to you, but you allow the attorney to turn those items into
litigation proof documents.
• Heading of Contract. There are many methods to introduce a contract, but think a bit about how to title it and
initiate the contact.
• Signature Section. See next section below.
• Signed Contract (D2L) – 25 points). The parties should meet to discuss and compare the written contracts. One
of the written contracts should be selected for the basis of the final agreement. One signed contact is handed in
for the two groups together. After any necessary negotiations and changes, the contract should be signed at the
bottom as follows (or using another acceptable format – this format is actually a bit clumsy but good to know:
Agreed to and executed this _____ Day of ____________, 2020.
XContraptions, Inc. Camion Ranchero
________________________ _____________________________
By: ____________________ By: _______________________
Its: ____________________ Its: _______________________
• Assessment against Goals (D2L) – 50 points. Each student also completes an assessment of how you did against
the student’s goals. This should be a short explanation of how you did in negotiating your key terms. Include an
explanation if the terms deviated from your goal. Please put together a table showing your key goals/terms and
result. Use the same table from your goals and add – don’t delete. Also in this document, explain any cultural
issues that arose in the negotiations (this part is only necessary if something actually arose and I will use your
comments in your initial goals document to ensure you considered cultural differences).
Do you have a similar assignment and would want someone to complete it for you? Click on
the ORDER NOW option to get instant services at LindasHelp.com. We assure you of a well
written and plagiarism free papers delivered within your specified deadline.