Case Scenario: Big Time Toymaker

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Case Scenario: Big Time Toymaker Paper Introduction In this week’s team assignment, our team will discuss an assignment from Chapter 6 text "Theory of Practice." The assignment deals with a contract dispute between Big Time Toymaker (BTT), a company that develops, manufactures, and distributes board games and other toys and the inventer of a game name Strat. The issue is that Mr. Chou, the inventer of the game signed an exclusive 90 day negotiation agreement with BTT for which Mr. Chou was paid $25,000. This agreement also contained a statement that no distribution agreement would be in place unless a contract for distribution was in place. This is where the issue stems from and the eventual reversal of an agreement to distribute by BTT. The questions that we will be answering are: Did a contract exist, facts in favor of Mr. Chou's thinking that a contract did exist, what roll does e-mail play, is statute of frauds a factor, and can BTT avoid the contract based on the doctrine of mistakes. At what point, if ever, did the parties have a contract? This point is difficult to answer and can be viewed can be perceived differently by who is looking at the situation and if there was ever a contract. In the situation with Chou and BTT there was never technically a written and signed contract. However, in many cases a file agreement can be made that there was a contract because both parties had verbally agreed. If one was to argue of a meeting of the minds in this particular scenario it would have been when Chou and BTT reached the oral agreement three days prior to the 90-day period expiration. At this point Chou and BTT enter into a contract because all parties were involved, gave consent, came to an agreement, which are the necessary steps to take when entering into a contract. The favors may weigh in favor or against Chou in terms of the parties’ objective

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