if there is no signature then there was no 90 days. 4. What role does the statute of frauds play in this contract? The one type of item that is accused by the potential fraud is the 500 $ sale item. The main original part of agreement between the two was the $25‚000 but that would have been proven fraud in the end. With the emails being send by both of them and no names with no signatures they would have had nothing out of the whole case. 5. Could BTT avoid this contract under the doctrine
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Case Scenario: Big Time Toymaker Jennifer Ferrante LAW/421 – Contemporary Business Law Date August 18‚ 2013 Instructor Name Jane Schneider Case Scenario: Big Time Toymaker In week four’s theory practice‚ we reviewed the case scenario of Big Time Toymaker vs Chou in regards to determining the validity of a contract. As we’ve reviewed‚ an agreement or mutual assent is of course essential to a valid contract but the law imputes to a person an intention corresponding to the reasonable meaning
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death or selling of the business. Even if the spouse or other person is given rights to operate the business after the owners’ death‚ a new sole proprietorship has legally been started. | Owners of sole proprietorships are going to have a difficult time acquiring capital for the business. The personal liability of a sole proprietorship makes investors leery because of the personal debt liability. | Taxation of a sole proprietorship is figured on the owners personal taxes. The owner is responsible
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1. At what point‚ if ever‚ did the parties have a contract? I believe that there were two contracts made in this scenario. The first one was the verbal contract that sated that the stipulations of price and the fact that there needed to be a written contract before distributing the product. The email‚ since it was in writing can also count as a written contract; both parties had knowledge that there would be some sort of written agreement. Chou was in the right to think that the email stating the
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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 BTT showed big interest by the initial $25‚000 agreement for the negotiation rights. Next‚ the oral agreement that was met between the two parties. Finally‚ the follow-up email sent to Chou which entailed what would be included in a contract. Although there may
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Case Scenario: Big Time Toymaker LAW/421 April 23‚ 2012 Professor Douglas Edmunds 1. At what point‚ if ever‚ did the parties have a contract? The parties had a contract when they spoke of and agreed on the deal that was later followed up by a BTT manager via email. 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 chow include the email that was sent to him from the BTT manager as well as the fax
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Case Scenario: Big Time Toymaker LAW/421 Case Scenario: Big Time Toymaker Read the “Theory to Practice” section at the end of Ch. 6 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
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Role and Functions of Law Paper University of Phoenix/Axia Law/421 – Contemporary Business Law Role and Functions of Law Paper The word law is defined as a system of principles and regulations of ethics and rules in order to keep people and also things in line‚ a set of rules of conduct. There are many functions of law in business and in society. Without the functions of laws many companies‚ etc. could and would not survive. Law is very valuable within businesses
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University of Phoenix Material BUGusa‚ Inc.‚ Worksheet Use the scenarios in the Bugusa‚ Inc.‚ link located on the student website to answer the following questions. Scenario: WIRETIME‚ Inc.‚ Advertisement Has WIRETIME‚ Inc.‚ committed any torts? If so‚ explain. Wiretime‚ Inc.’s ad in the well-known industry magazine stated that BUGusa‚ Inc. electronic recording devices are low quality and not reliable for more than a month (University of Phoenix‚ 2013). This tort is defamation since
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and Role of Law in Business‚ Society‚ and the Military Law/421 The Functions and Role of Law in Business‚ Society‚ and the Military The functions of law in businesses and society are very particular and these roles and functions can make or break a society or business. Every business‚ society‚ and military have to make sure that they follow the laws and that each business‚ society‚ and military has a set of laws that they abide by or they could face closure or anarchy. Law in these three
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