How do the two contracts treat the disclosures differently

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Reference no: EM133929198

The Law of Commercial

Search online to find examples of the following:
Find a website with Terms of Use that include a mandatory arbitration clause. Copy and paste the clause in your answer and indicate from what found it). Describe how at least one portion of the clause surprised you or indicate what portion you found to be the most important. Explain why. 5 points
Answer the following questions concerning the Apple.com Terms of Use, found here: https://www.apple.com/legal/internet- services/terms/site.html:
If you have a dispute with Apple regarding any matter relating to your use of its website (and you are not a consumer based in any European Union country), where do you consent to personal jurisdiction and what law do you agree to use to govern your dispute with Apple? Copy and paste that portion of the agreement that governs these issues.
What do Apple's Terms of Use say about a user attempting to sue Apple for consequential damages (or lost profits) as a result of a problem with its site or software? Copy and paste that portion of the agreement that governs these issues. 5 points
Go to the artificial intelligence site hosting ChatGPT (openai.com). Create an account to use ChatGPT if you do not have one. Once there, you should see a search box near the bottom of the screen. In the search box, instruct it to draft a contract between RJ Hunt, seller, and DJ March, buyer, for the sale of a house at 123 Jackson St., Macomb, IL 61455, legally described as Lot 1 in Block 17 of Miller's Addition to the City of Macomb, IL for the purchase price of $300,000. There will be earnest money of $3000 paid on the date the contract is signed and the closing will be on December 31, 2023. Also, include a financing contingency clause for the buyer, where the buyer must be approved for a mortgage loan of 80% of the purchase price by December 1, 2023. Get expert online assignment help in the USA.
Compare the agreement drafted by ChatGPT to the Illinois Real Estate Purchase Agreement provided with this assignment. Answer the following questions:

List at least two significant differences between the two contracts (the one drafted by AI and the one provided with the assignment)?
What stands out to you the most after reading each document? 4 points
According to the Illinois Real Estate Purchase Agreement (the human- prepared contract), what happens if a dispute arises between the buyer and seller (assuming the dispute is not one of the exceptions listed)?
What happens if a dispute arises under the AI generated contract?
Is there a significant difference and what would the difference mean to the parties involved? Explain. 3 points
Illinois, like many states, requires sellers of residential real estate to make certain disclosures about the condition of the property to the buyer.

How do the two contracts treat the disclosures differently?
One disclosure requirement is in the form of the Illinois Residential Real Property Disclosure Report

Reference no: EM133929198

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