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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collaborated with and an inventor named Chou. Chou invented a strategy game called Strat‚ which requires a distributor. Chou entered into an agreement with Big Time for $25.000 and in return‚ Chou granted Big Time the exclusive negotiation rights for 90 days. During that time‚ Big Time honored the agreement‚ but three days shy of the expiration date‚ a Big Time manager forwarded a drafted agreement via e-mail‚ which covered the terms of the agreement. Chou received and responded to the draft in agreement
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contract unless it was in writing. When the BTT manager sent the e-mail to Chou‚ he mentioned the terms of a distribution agreement‚ but it does not make the email a contract as neither party signed it. Only an oral agreement was reached. Without a legally binding draft and the signature of both parties present‚ no contract existed. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? BTT had paid Chou $25‚000 for the exclusive negotiation rights
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writing. When the BTT manager sent the e-mail to Chou‚ he mentioned the terms of a distribution agreement‚ but it does not make the email a contract due to the fact that neither party signed it. Only an oral agreement was reached. Without a legally binding draft and both parties signatures no contract exists. Though the contract was in process even the details had been identified‚ however; it fell through the cracks because of the management change at BTT. Initially‚ BTT paid Chou $25‚000 for exclusive
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parties had a contract when they spoke of and agreed on the deal that was later followed up by a BTT manager via email. Which included full details of prices‚ time frames and obligations of both parties. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The facts that weigh in favor of Chou include the email that was sent to him from the BTT manager as well as the fax that he sent. Even though the email and the fax were not responded to
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Case Scenario: Big Time Toymaker Case Scenario: Big Time Toymaker Did the parties have a contract? If there was a contract between Big Time Toymaker (BTT) and Chou it was a bilateral contract that was binding when BTT (offeror) paid Chou (offeree) $25K in exchange for limited negotiation privileges for a 90-day period. Consequently‚ BTT bought the rights to negotiate the distribution agreements for Chou’s board game. A bilateral contract is an agreement of two promises and two performances. The
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Abstract “Theory to Practice” scenario: Big Time Toymaker Big Time Toymaker (BTT) develops‚ manufactures‚ and distributes board games and other toys to the United States‚ Mexico‚ and Canada. Chou is the inventor of a new strategy game he named Strat. BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25‚000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution
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