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 contract existed unless it was in writing. Just three days before the expiration of the 90-day period‚ the parties reached an oral distribution agreement at a meeting. Chou offered to draft
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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 to contract? Both BTT and Chau
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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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strategy game developed by Chou‚ called Strat. There were oral agreements for exclusive distribution rights‚ but had stipulations that it must be in writing. There were also emails sent‚ but a formal contract was never executed. As simple as Melvin’s definition of a contract may seem‚ certain situations and assumptions made can cloud the situation. In this case scenario‚ the team will address some of
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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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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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November 24‚ 2009 YaYa Chou YaYa Chou is an artist that creates her work to connect directly to the viewer’s human experiences. Chou is famous for creating art pieces that relates to the viewer by incorporating “familiar objects or images to depict the dichotomy found inside highly developed societies”. (Chou) She uses many aspects that play pivotal roles in our lifes‚ such as using anything that can be found in nature‚ which can range from plants to animals. YaYa Chou has made mixed media pieces
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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. On day 87 of the agreement‚ the parties held a negotiation meeting and came to an oral agreement on the terms of the distribution agreement. Chou offered to draft
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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 sense that
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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 at a deal on a
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