At what point, if ever, did the parties have a contract? I don’t believe a contract was ever entered by either party. Initially there was an agreement for 90 days made to give exclusive rights to negotiate to BTT. Just 3 days before that ended both parties reached an agreement for distribution of which Chou then offered to write the contract to “memorialize their agreement,” however this wasn’t done. Then an e-mail was received that stated all of the agree upon terms.
Chou believed this sufficed for a contract, but apparently BTT did not because they sent a request for a draft copy of the distribution contract a month after Chou received the e-mail. Chou complied and found out months later that BTT changed management and were no longer interested in distributing STRAT (Melvin, 2011). The first question one might ask after reading the above scenario is at what point, if ever, did the parties have a contract? To answer this question one must examine the elements of
Carl assured Monica that it would all be completed on time for orientation to begin on June 15. Carl waited till after Memorial Day to check on all of the information to start the new hires orientation on June 15. Carl found that the new hires had not completed all the application process, some were missing transcripts, none of the mandatory drug screens were scheduled, and the training room is not available until after the month of June. When he found the Orientation Manuals he was only able to locate 3 and they all had missing pages in them. Problems Carl Robins was lacking the knowledge and experience for the process and procedures of recruiting new hires.
According to this unique strategy the company is considering the option of arranging a nationwide competition through FightWare, which will cost them about $25,000. This competition is likely to generate the buzz and excitement surrounding the software, which is already in the market and being used on the basis of monthly subscriptions. Thus the main decision with the company is whether to outsource the competition or to arrange it in-house with the help of networking partners. Alternatives: Basically there are three alternatives in front of the company. Firstly they can simply outsource the competition to FightWare and pay them the sum of $25,000.
This reduction is expected to be completed by January 31, 2012 and will approximately cost $3 million dollars. The cost of terminating employees shall not be recorded in the year ended December 31, 2011. ASC 420-10-25-4 says, “An arrangement for one-time employee termination benefits exists at the date the plan meets all of the following criteria and has been communicated to employees.” Following these guidelines we do not meet requirements, because we have not communicated to the employees the benefits they will receive upon termination and Pharma Co. hasn’t specified the job classification of the 120 employees. Otherwise, this cost will be recognized when incurred at fair
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.
Terminal assigned its rights to Wells Fargo (plaintiff). Terminal never paid a portion of the $250,000. Brooks refused to make monthly payments and Wells Fargo sued. Parties moved for summary judgement. Court ruled in favor of Wells Fargo, brooks appealed ISSUE: Even though a company is acting in good faith should they be held liable for contract duties?
Spaulding v. Morse (369): stop yearly payment to trust during time in armed services - enforce according to terms if unambiguous, consider context if terms are ambiguous - not only context at time of contract formation, but also what happened AFTER ⇨ changed circumstances - why look at context? very few contingent contracts ➢ trade-off: value of completeness vs. value of time ➢ impossible to conceive of all contingencies C. Parol Evidence Rule
Response: Yes there is a contract. There is a verbal agreement where both parties agreed to the sale of the car. There was an offer of a price of $25,000 and both had a consideration in the agreement. According to Cheeseman, "a contract is an agreement that is enforceable by a court of law or equity (Cheeeman, 169)". There are a minimum of two parties involved and an offer was made, thus making this a contract.
Elliot Park 1.13.12 AP Government Idiot America America was created on intellectual curiosity by the founding fathers. Intellects is what aided America to break away from the British. Our country was built on great minds and thinkers, but what about America today? Since intellects was what we were built on, where do we stand on intellects as a country? Well we can look at are scores compared to the other countries in the world, and our worldwide comparison for math scores has us, America, at number 25.