that there was a contract in place when BTT sent an email to Chau talking about the original terms of agreement. BTT sent Chou an e-mail where the topic line read “Strat Deal.” This email reiterated the main elements of the agreement. The elements included fees‚ the rights and responsibilities of both parties‚ and the length of time the project should be done.” This is when the contract became legal binding. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent
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Theory to Practice Law421 3/31/2014 Theory to Practice Big Time Toymaker (BTT) develops‚ manufactures and distributes toys and board games. An inventor named Chou created a board game called Strat. Chous invention caught the attention of BTT and they sought out to negotiate with Chou. During the time of communication between both Chou and BTT an agreement was made. Both parties agreed to BTT having exclusive negotiating wrights for a 90-day period in exchange for $25‚000.00. The agreement
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involving Big Time Toymaker (BTT)‚ a company that develops‚ manufactures‚ and distributes board games and other toys globally‚ entered into an agreement with Chou‚ an independent inventor of a new strategy game he name Strat‚ to distribute this new game. However‚ over more than a 90-day period‚ BTT reneged on the agreement and was in breach of contract stating BTT were no longer interested in distributing Chou’s new strategy game. This paper examines whether BTT and Chou‚ in fact‚ have a contract‚
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of the text. Answer Questions 1 through 6 based on the scenario in the “Theory to Practice” section‚ and complete the following in your response: At the conclusion of the situation‚ BTT says that it’s not serious about releasing Chou’s new technique game‚ Strat. Presuming BTT and Chou have got a deal‚ and BTT has breached the agreement by not releasing the game‚ discuss what solutions may or may not apply. At what point‚ if ever‚ did the parties have a contract? By studying the situation
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Big Time Toymaker At what point‚ if ever‚ did the parties have a contract? Chou and BTT had a contract at the point they agreed to all the terms. By including the obligations of the parties and the terms of the agreement‚ the manager showed objective intent. A written contract was not necessary since this was a contract primarily dealing with services to distribute the game‚ not a production contract or a sales contract. Had it involved a goods contract to buy or sell‚ which under the Statutes
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agreement that BTT paid $25‚000 to Chou for exclusive negotiation rights ended after the 90-day period. After this there was no actual contract. There was talk of a contract to be drafted and an email but neither was an actual contact. Since there were no signatures from both parties‚ there was no legally binding contract present. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? I would have to say that the facts weigh in favor of Chou in the
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Case Scenario: Big Time Toymaker LAW/421 Case Scenario: Big Time Toymaker Big Time Toymaker (BTT) develops‚ manufactures‚ and distributes board games and other toys in North America‚ Chou is the inventor of a new strategy game he calls Strat. BTT had an interest in distributing Strat and entered into an agreement with Chou‚ offering him $25‚000 in exchange for exclusive negotiation rights for a 90-day period. This agreement stipulated that no distribution contract existed unless it was in writing
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At the end of the scenario‚ BTT states that it is not interested in distributing Chou’s new strategy game‚ Strat. Assuming BTT and Chou have a contract‚ and BTT has breached the contract by not distributing the game‚ discuss what remedies might or might not apply. Explain your answers and refer to Section 7-6 in Ch. 7 for support. Submit your answers. Case Scenario: Big Time Toymaker 1. At what point‚ if ever‚ did the parties have a contract? Chou and BTT had a contract at the point they
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scenario deals with Big Time Toymaker and a contract they were negotiating with Chou‚ the inventor of a new strategy game that BTT wanted exclusive negotiation rights for a 90-day period. When Chou received an email with the details of what they were going to agree upon‚ he thought that was the contract and did not proceed in drawing up a contract himself. Months passed and when BTT changed management‚ they informed Chou that they were not interested in distributing his new strategy game‚ Strat. In
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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. BTT had paid out Chou $25‚000 for the unique negotiation legal rights to his board game‚ and this element would cause Chou to think they were interested in arriving
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