Preview

Case Scenario:Big Time Toys

Satisfactory Essays
Open Document
Open Document
739 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Case Scenario:Big Time Toys
Case Scenario: Big Time Toymaker
Tabitha Szoltysik
LAW/421
September 22, 2014
Phillip Quintana

Case Scenario: Big Time Toymaker
1. At what point, if ever, did the parties have a contract?
I think the parties had a contract as soon as BTT sent over the email names Strat Deal. If it weren't in the exclusive negotiation agreement that stated the no distribution contract valid unless it's in writing, then I would say they were in a contract when Chou accepted the 25,000 from BTT for the 90-days exclusive rights.
2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract?
I think the facts that weigh in for Chou is the fact that BTT sent an email that was titled Strat Deal. In that email it covered all the information they went over in a meeting, including time frame, price, as well as the obligations for both parties. This was also done within the 90-days time frame which would make this legal binding.
3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)?
Yes, because with both BTT and Chou communicating through email that is showing that both parties are recognizing they have an agreement of some sort to continue moving forward.
4. What role does the statute of frauds play in this contract?
Statute of frauds play a part in this contract because as stated in the text; “ Under the Uniform Commercial Code, the statute of frauds applies to any contract for the sale of goods for $500 or more, and any lease transaction for goods amounting to $1,000 or more” (Melvin, 2011, p 151). BTT exchanged $25,000 for exclusive negotiation rights for 90-days for Chou’s game Strat, but the agreement was conversed and not suitably carried out as established upon.
5. Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the

You May Also Find These Documents Helpful

  • Good Essays

    Chou and BTT reach the point of having a contract when they agree to all terms. In the email send by BTT covering the obligations of the parties and the terms of the agreement, BTT showed objective intent. According to Melvin,” Objective intent Requirement for an offer to have legal effect necessitating that generally, the offer or must have a serious intention to become bound by the offer and the terms of the offer must be reasonably certain” (Melvin, 2011, pa 724). Because the contract did not involve the sale of goods, land, or lease of goods or land a written contract was not necessary. In the case of Chou and BTT contract, this situation deals with services for the distribution of the game, and not a production contract or a sales contract.…

    • 381 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Law 421 Week 4

    • 636 Words
    • 2 Pages

    Yes, the document that BTT had sent to Chou was a legal binding contract for the distribution as the document was not rejected by Chou. Also the fact that BTT asked Chou to draw up an agreement after months had passed and Chou responded with the agreement.…

    • 636 Words
    • 2 Pages
    Good Essays
  • Better Essays

    There are a few facts that weigh in favor of Chou. First, three days prior to the end of the 90 day exclusive negotiation rights agreement, they reached an oral agreement and then shortly thereafter, a business email from a BTT management representative was sent to Chou with the specifics of the agreement. The email stated “that…

    • 1026 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    LAW 421 WEEK 4

    • 478 Words
    • 2 Pages

    5. Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the contract to be avoided?…

    • 478 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Law 421

    • 952 Words
    • 4 Pages

    By studying the situation, I don't believe the 2 sides concerned ever had a deal. In the situation, the sides reached a deal just 3 days ahead of the conclusion of a 90-day time frame set in the initial negotiation deal. In the initial negotiation deal, it says that there would be no distribution agreement until it was on paper. As soon as the BTT manager posted the e-mail to Chou, he described the conditions of a distribution contract; however it doesn't make the email an agreement as neither side inked it. Just a verbal deal was reached. With no legally binding draft and the signature of both sides present, no agreement existed.…

    • 952 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Big Time Toymaker

    • 1420 Words
    • 6 Pages

    There are several factors that will weigh in favor of Chou such as the offeror; Big Time Toymaker had an objective intent to contract when the company made the offer to Chou. In addition, under the circumstances, a reasonable person would have believed the language and intent of the…

    • 1420 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)?…

    • 467 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Several actions on the part of BTT weigh in favour of Chou in terms of the parties’ objective to contract. The exclusive negotiation agreement shows the…

    • 937 Words
    • 4 Pages
    Better Essays
  • Good Essays

    According to the theory practice, the contract between Big Time Toymaker (BTT) and Chou was a verbal contract. While there was an email confirming the terms of agreement, this contract was never finalized. While they both verbally agreed to the terms, it was never formally written. The email provided to Chou was intended to solidify the contract, even though no use of the word “contract” was ever used. In regards to Chou, he could easily fight the case that it was to review the verbal agreement, even though no physical agreement was signed.…

    • 848 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)?…

    • 462 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Issue: The issue is whether the objective circumstances indicate that the parties intended to form a contract…

    • 981 Words
    • 4 Pages
    Good Essays
  • Good Essays

    In the case of Durick and Andrus, an offer was made when Durick proposed to Andrus that he needs to renew his policy, but Andrus stated that he would only accept the new policy and counter offered. In order to have a valid contract there needs to be meeting of the minds and offer and acceptance should be present. Andrus didn’t want the $48,000 policy so there was no acceptance made.…

    • 493 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Big Time Toy Maker

    • 473 Words
    • 2 Pages

    3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)?…

    • 473 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Law 421 Week 3

    • 599 Words
    • 3 Pages

    With the rapid growth of e-business it is no small wonder why businesses today are taking advantage of the online market. The overall convenience and lack of complexity with buying products and services online has converted most of the public to shopping via the internet. Any business that sells a service or product must strongly consider the fact that being without a website or means for the public to shop online will only hinder the business’ profits and any chance for future development. Many small businesses are realizing first hand that the lack of e-business will ultimately make their companies obsolete.…

    • 599 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Acme Fireworks Prospectus

    • 1831 Words
    • 6 Pages

    When it comes to contracts, it is important to understand that there are two different bodies of law that come into play, the Uniform Commercial Code (UCC) and the common law of contracts. The difference between the UCC and the common law contract can make a huge difference in the outcome of a contract dispute. This could be the difference between being able to collect punitive damages, discharge or modify a contract, be able to sue under breach of contract, and whether or not there truly a legally recognizable contract after all CITATION Gun12 \l 1033 (Denton, 2012).…

    • 1831 Words
    • 6 Pages
    Better Essays

Related Topics