Case Scenerio

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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 of the parties’ objective intent to contract?
The facts that may weigh in Chou favor is that he received an oral agreement and email from BTT. The facts that weight against Chou is that there was never a written agreement. Also Chou has the right to negotiate for 90 days that state, “No contract exists unless it is in writing.” There no written agreement turned in the 90 day period. 3.) Does the fact that the parties were communicating by e-mail have any impact on your analysis in questions 1 and 2?
Yes, It e-mail had an impact because it emphasized the agreement made in the meeting, even though there was not any mention of the word “contract”. 4.) What role does the statue of frauds play in this contract?
Chou received $25,000 for exclusive negotiation rights for a 90-day period, that did not go through. However, it is stated that any contract for under the sale of goods for $500 or more, or any lease transaction for goods $1,000 or more under the Uniform Commercial Code the statute of frauds apply.

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, BTT never said that it was a mistake made in the agreement with Chou. The only mistake made was when Chou did not send out an agreement within the 90 day exclusive agreement. 6.) Assuming,…...

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