Big Time Toymaker LAW/421 Big Time Toymaker This paper will discuss the Case Scenario: Big Time Toymaker along with the related questions and answers. Big Time Toymaker (BTT) is a company that specializes in board games and other toys. Their organization covers all aspects of this industry including developing, manufacturing, and distribution of board games and other toys. In this particular case scenario Big Time Toymaker was interested in a specific new strategy game called
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Big Time Toymaker Latasha McClure LAW/421 July 26, 2013 Cory Childs Big Time Toymaker 1. At what point, if ever, did the parties have a contract? Big Time Toymaker and Chou entered in to a contract when BTT paid Chou 25,000 in exchange for exclusive negotiation rights for 90 days. This showed all elements of a contract there was mutual assent, consideration when BTT paid the 25,000, it was legal and both parties had contractual capacity. 2. What facts may weigh in favor of or against
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Big Time Toymaker April 13, 2015 Big Time Toymaker Big Time Toymaker is an industry leading toy company that manufactures, develops and distributes board games and other toys to the United States, Mexico, and Canada (Melvin, 2011 p. 155). This assignment allowed us to witness first hand a deal for a product that could of made the inventor very wealthy. Although this was not the case, this assignment taught us various lessons in business law and communication. At what point, if ever
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Big Time Toymaker LAW/421 September 25, 2014 Phillip Muir - University of Phoenix Big Time Toymaker BTT and Chou made an exclusive negotiation agreement for a 90 day period. There were specific stipulations that a written agreement must be in affect and signed within this time frame. Both parties had reached an oral agreement before the 90 day expiration had occurred and also had contacted each other through an e mail repeating the terms of the oral agreement on paper. This electronic
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Case Scenario: Big Time Toymaker Big Time Toymaker a developer manufacturer and distributor of board games and toys recently 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
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Case Scenario: Big Time Toymaker Big Time Toymaker and Chou did have a contract at the point when Chou accepted $25,000 in exchange for exclusive negotiation rights of the game called Strat. Since the exclusive negotiation agreement stated that no distribution agreement was in place, unless in writing, there was no official distribution agreement between the parties. Although there was no written agreement, the email sent by a BTT manager could be considered by a court to be evidence of intent
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Vennessa Miller Law421 Professor Nikki Chtaini Case Scenario: Big Time Toymaker November 11, 2013 There was contract. What they put together was an agreement in an email. Three days before the expiration of the 90 day period the parties reached an oral distribution agreement at a meeting. Then later a draft agreement contract was sent. The fact that may weigh in favor of Chou is that he has the email that he sent and when he sent the email but on the other hand what may not work in his favor
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Big Time Toymaker The following case scenario is concerning the existence of a valid contract between two parties. A valid contract can be verbal and/or written. The contract becomes valid when there has been a promise, an acceptance, and consideration relating to the terms and conditions of the agreement. A breach of contract can take place if one of the parties does not comply with the terms of the contract. If this happens, the non-breaching party may be awarded remedies to recover
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Case Scenario: Big Time Toymaker 1. At what point, if ever, did the parties have a contract? Big Time Toymaker (BTT) granted Chou an agreement to a option contract. BTT pays Chou $25K to keep exclusive negotiation rights for a 90-day period. Therefore, BTT purchased the rights to negotiate a distribution agreement for Chou’s invention (a board game). The agreement stipulated that at the end of the 90-day period, if the parties could not come to terms on a distribution deal. Chou would be free
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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 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
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