Contemporary Business Law

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Case Scenario: Big Time Toymaker LAW 421 Contemporary Business Law Tina Robinson Benison February 4, 2013 Case Scenario: Big Time Toymaker 1. At what point, if ever, did the parties have a contract? I honestly do not believe the parties ever had a contract. The scenario stated that no distribution contract existed unless it was in writing. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? Facts in favor of Chou The $25,000 payment The e-mail Facts against Chou No contract New management 90-day period had passed False assumption that the e-mail was a contract 3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)? Yes it does, because e-mail is a form of writing but it did not say contract. 4. What role does the statute of frauds play in this contract? The statute of fraud states that there was no contract in this case. This is true because it has to be a written contract. Even if the e-mail was a contract draft, it did not include the signatures of both parties, therefore; it is not a contract. 5. Could BTT avoid this contract under the doctrine of mistake? Explain. Would either party have any other defenses that would allow the contract to be avoided? No, because there was never a contract. Chou could however say that there was a mistake Case Scenario: Big Time Toymaker on his part with the e-mail that he mistaken made the assumption that it

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