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School

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Submitted By littleone11
Words 803
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Running head: BIG TIME TOYMAKER

Big Time Toymaker
Silvia Robinson
University of Phoenix

November 12, 2013

Big Time Toymaker
At what point, if ever, get the parties have a contract? The company BTT entered an agreement with Chou. BTT paid Chou a total of 25,000 for exclusive negotiation rights for an 90 day period. During this time they had and contract between the parties for 90 days,. I believe this would be considered an oral agreement. If I recall correctly and an agreement can be a binding contract whether it is an oral or written agreement between two parties. In this case there was an oral agreement may either by the two parties. An written contract was being drawn up but never completed due to misinterpretation and poor communication sent by an email/fax received by Chou from BTT. BTT produced no follow-up or follow through in this matter. This was a paid contract money was given in return for negotiation rights of distribution. This did not mean
What the facts may weigh in favor of or against Chou in terms of the parties objective intent to contract? I believe the fact that BTT paid Chou 25,000 dollars for the negation of distribution right, also that BTT sent an email It is normal now a day to do business communications via emails and faxes. The emails and faxes can be made binding in a court of law. “Strat Deal” indicating that they agreed with the terms of the distribution agreement including the price, time frame, and obligations. Although the 90 days of the verbal agreement had passed the actual ”Strat Deal” contract had already been drawn up yet, never signed by BTT this could present Chou a problem for Chou. Chou did as told in regards to the creation of the draft and distribution. Chou did this in a timely fashion. Yet, Chou neglected to follow through by obtaining a signature. It would have also been better for BT to have

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