4. Warranty certificate. The buyer shall only close if the seller has fulfilled its obligations and the seller`s assurances and guarantees are true on the day they were issued and on the closing date, as if they had been made on that date, unless the agreement provides that these specific facts could change. 2. Purchase Price. The purchase price is $11,000, which is paid with a certified check at closing. Many exercises refer to a single motive of facts, but evolving: the purchase of a jet by a ne`er-do-well with serious financial problems. The exercises are varied. In one exercise, students mark the introductory provisions of the aircraft purchase contract. In another, they design the section on the pose, while in a third, they would rework a precedent for the aircraft purchase contract, mark different sections and add new provisions, as required by the instructions of the exercise.
The character of the exercises requiring further elaboration varies according to the subject. At the beginning of the course, students design discrete contract sections: preambles, recitals, counterpart statements, definitions, etc. Towards the end of the course, students design longer provisions as well as a short, unprecedented lease. To teach students the ability to translate, the textbook describes the negotiation of a relatively simple transaction: the purchase of a house. By analyzing the contractual concepts that best offer the buyer the commercial insurance he wants, students learn the legal and commercial implications of insurance and guarantees, agreements and conditions precedent. This document emphasizes that contractual concepts are not academic concepts that have been abandoned in treaties, but the legal means of carrying out a commercial transaction. As already said, the textbook begins by teaching students the building blocks of contracts and the ability to translate. The manual then defines the framework of an agreement and implements it from the preamble to the signature lines, in any case discussing the commercial, legal and design issues that arise in each part of a contract. It is only after these chapters that the manual turns to developing rules for good writing and techniques to increase clarity and avoid ambiguities.. . . .