Big Time Toy Maker

316 Words2 Pages
1. Chou and BTT reached an oral agreement three days before the expiration of the 90 day period. Chou also received an email from BTT repeating the terms that the two agreed upon. IF BTT breaks the contract Chou has valid evidence to prove that the two of them had a contract. 2. The factors that favor Chou are that both BTT and Chou had Mutual Assent because there was an offer and an acceptance of the contract. Chou has proof that the company had an oral contract and an email showing the terms of the contract. The factors involved that do not favor Chou are that there is not written and signed contract enforcing the terms of the contract. Also with new management coming into BTT, they can claim Duty to Mitigate. 3. I think the email provides useful evidence if Chou needed to take BTT to court because it shows there was communication and shows the terms that were agreed upon. 4. Unfortunately for Chou the statue of frauds states that the contracts must be in writing to be enforceable. The Statute of Frauds purpose is to prevent the opportunity of a fictional agreement between two parties being "proved" by perjury or Fraud. 5. I could see BTT using the defense that new management was hired on before Chou officially signed a written contract. Chou had an oral contract, email, and a fax letter for his proof but the new management might have wanted a written contract. BTT also could also use duty to mitigate, which states that the parties involved in contract need to take the appropriate steps in order to avoid incurring damages and losses. 6. Chou was offered a valid contract which he decided to accept from BTT. Also Chou could claim the mailbox rule, which Chou faxed the contract to BTT which is deemed that the contract is

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