Big Time Toymaker Jean Augustin Law/421 October 1, 2012 Thomas Wilson Abstract Big Time Toymaker (BTT) agreement with Cho for extension of exclusive distribution rights is being challenged due to a lack of written agreement. BTT reached an oral agreement which is not binding due to the stipulations in their original agreement, which states that all contracts must be in writing. Both parties have communicated the terms of the distribution agreements via email and fax, after a change in management
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Case Scenario: Big Time Toymaker 1. At what point, if ever, did the parties have a contract? Big Time Toymaker and Chou entered into an agreement, in exchange for negotiation rights over a 90 day period BTT paid Chou $25,000. Even though BTT and Chou had an agreement from the very beginning they did not have a contract until one of the BTT managers sent Chou the included all the key terms of the agreement. Chou was supposed to be the one to draft the agreement before he
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Running head: BIG TIME TOYMAKER Big Time Toymaker Name University Big Time Toymaker Paper A contract is an agreement between two parties that is enforceable in court. In order to have a valid contract, there are several criteria that must be met that will be explained throughout this analysis. A verbal or written agreement may result in a binding contract if the required contract criteria are met (Melvin, 2011). Contracts are put in place to protect both parties on either end of the agreement
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Case Scenario: Big Time Toymaker Ana Corral Law421 November 25, 2013 Michael John 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
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Case Scenario: Big Time Toymaker The Stipulation Big Time Toymaker is a board games and toys manufacturer. The company distributes products in the Americas and Canada. A strategic game called Strat was invented by Chou, and BTT made an offer to have his exclusivity for the amount of $25,000 for 90 days as long as both parties agreed and a written agreement is drawn up. The Agreement Initially, both parties have agreed to lay down a contract prior to the 90-day phase subsequent to the oral
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Case Scenario: Big Time Toymaker Role and Functions of Law Law/421 September 24, 2014 David Klein Case Scenario: Big Time Toymaker 1.) At what point, if ever, did the parties have a contract? BTT sent Chou an e-mail to confirm the terms of the verbal agreement. The email included the key terms of the distribution agreement, price, and other obligations of both parties. The e-mail was a valid contract of legal promises. 2.) What facts may weigh in favor of or against Chou in terms
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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 LAW/421 Case Scenario: Big Time Toymaker In this scenario, Big Time Toymaker had entered into an option contract with Chou whereby they paid him $25,000 for exclusive negotiation rights for distribution of his strategy game for 90 days. This negotiation agreement stated that no contract existed unless it was in writing. Three days before the 90-day period was over, BTT and Chou reached a verbal agreement at a meeting. Chou was to draft the agreement, but
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Big Time Toymakers Jessica Costin August 19, 2014 LAW/421 Ric Hedges Case Scenario Introduction Big Time Toymakers makes board games all over the world. Chou came to BTT with a deal that if Chou would let BTT distribute their game STRAT. BTT offered that they would give him 25,000 in exclusive negotiation rights for a three month period. The deal between BTT and Chou began when the time frame was set. The obligations between the two were made and the price that would be given was also established
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Big Time Toymaker Ronda Bonny LAW/421 AUGUST 13, 2012 JAMES ZACCARIA Big Time Toymaker 1. At what point, if ever, did the parties have a contract? After reading the case scenario, I do not believe either of the two parties involved ever established a binding distribution contract. It is true an oral distribution agreement was achieved just three days prior to the 90-day deadline, which was a condition established in the original negotiating contract. However, as clearly stated in the
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