...Case Scenario: Big Time Toy Maker 1. At what point, if ever, did the parties have a contract? Our textbook defines a contract as “a promise or a set of promises enforceable by law” (). A contract does not necesarily has to be in writing. A contract can be oral and enforceable. Big Time Toymaker and Chou took part in an oral contract. Big Time Toy Maker and Chou held a meeting where an oral distribution agreement was reached. In addition, Big Time Toy sent an email to Chou confirming the agreement. 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 favor of Chow are the exclusive negotiation rights for a 90-day period, the oral agreement that was reached at the meeting and the email he received from Big Time Toy. The facts against Chou would be that there is never an actual written agreement drafted by Chou. In addition, the exclusive negotiation rights agreement stipulated that no distribution contract existed unless it was in writing. Finally, no written agreement was turned in within the original 90-day period stipulated in the exclusive negotiation right agreement. 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, because the email represents the acknowledgment by both parties of the distribution agreement made in the meeting despite the e-mail failing to mention the word “contract.” In addition...
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...Big Time Toymaker (BTT) is a toy company that sells products to the United States, Canada and Mexico. Chou just created Strat an new strategy game. BTT is interested in distributing this game so they entered into a deal where Chou got $25,000 for negotiation rights for ninety days. This agreement specified that all contracts were to be in writing and there would be no verbal contract. Before the time was up BTT, sent Chou an email that detailed the specified the agreements reached upon their meeting, except for the agreement that Chou was to write up the draft, not BTT. Chou never responded and later BTT sent him a fax, asking for the draft, which Chou again never responded to. At what point, if ever, did the parties have a contract? According to the scenario, both Big Time Toymaker and Chou did have a contract, when they meet and agreed on all the terms and conditions of the distribution, that would be a contract, but because they agreed that there would be no contract unless it was in writing then it can be assumed they never were in contract because there was never a document they both acknowledge and accepted as a contract. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The most important fact weigh in against Chou is that he did get a document before the ninety days expire, this document seemed to express everything that they wanted as agreed in their meeting yet he never responded. The reason why he did not...
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...Big Time Toymaker Ronda Bonny LAW/421 AUGUST 13, 2012 JAMES ZACCARIA Big Time Toymaker 1. At what point, if ever, did the parties have a contract? After reading the case scenario, I do not believe either of the two parties involved ever established a binding distribution contract. It is true an oral distribution agreement was achieved just three days prior to the 90-day deadline, which was a condition established in the original negotiating contract. However, as clearly stated in the original negotiating contract, there is not to be a distribution agreement, or contract, unless it is in writing. After the meeting, Chou volunteered to draft the distribution contract that would formalize their agreement. However, before Chou could finish the draft, he received an e-mail from the BTT manager. The e-mail with the subject line “Strat Deal,” focused on the key points of the distribution agreement between both parties, including the price, time frames, and obligations of both parties. After receiving this e-mail, Chou incorrectly assumed that BTT wanted to draft the contract. Thus Chou stopped working on the draft and a month passed by. This passage of time voided any previous agreement because of the 90-day clause to finalize the contract. What BTT and Chou had was not a binding or enforceable contract. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The facts that prove there was no binding distribution contract...
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...1. At what point, if ever, did the parties have a contract? Upon reviewing this situation, Chou and Big Time Toymaker had participated in an oral agreement. During a conference between Chou and BTT a distribution agreement was reached, an e-mail was also directed by BTT to Chou confirming the significant terms of the verbal contract agreed upon during the conference. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? In Chou’s situation, these facts may be in favor for him would be the verbal agreement and email Chou received from BTT. These facts however, are working against Chou. There is never an actual written contract created by Chou or that Chou arrived into a private contractual rights agreement with a 90 day probation with it explicitly stating, “No contract exists unless it is in writing.” Finally, no transcribed contract was turned in within the original 90-day time frame specified in the private negotiation. 3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)? Of course, the e-mail received signifies the response by both Chou and BBT of the dispersal agreement made in the meeting even though the e-mail had failed to mention the word “contract.” 4. What role does the statute of frauds play in this contract? Fraud has a role in case and it applies to this situation. “Under the Uniform Commercial Code, the statute...
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...Submitted by Rob Lowe Individual Case Scenario: Big Time Toymaker | Read the “Theory to Practice” section at the end of Ch. 6 of the text.Answer Questions 1 through 6 based on the scenario in the “Theory to Practice” section, and complete the following in your response: * At the end of the scenario, BTT states that it is not interested in distributing Chou’s new strategy game, Strat. Assuming BTT and Chou have a contract, and BTT has breached the contract by not distributing the game, discuss what remedies might or might not apply. * Explain your answers and refer to Section 7-6 in Ch. 7 for support.Submit your answers. | 1. At what point, if ever, did the parties have a contract? After reading the scenario, I believe there was a contract when BTT sent an email to Chau referencing the intital terms of agreement. Here’s the verbage from the scenario… “a BTT manager sent Chou an e-mail with the subject line “Strat Deal” that repeated the key terms of the distribution agreement including price, time frames, and obligations of both parties.” This is where the deal became legal binding. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? Mutual Assent. Both parties had verbally agreed to the deal. A reasonable person would have assumed the deal was going to go through because BTT paid Chau 25K for negotiation rights for a 90 day period. At this point there was an enforceable agreement between...
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...Big Time Toy Maker Law / 421 Big Time Toy Maker 1. At what point, if ever, did the parties have a contract? Yes, both parties had a valid contract when they agreed upon the terms of the deal. They both agreed upon the terms and Chou accepted the twenty five thousand dollars from Big Time Toymaker. A written agreement was not needed due to BTT being only a distributer and not a producer. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? Chou was paid twenty five thousand dollars by BTT for the negotiation rights to his house board game. This could have given Chou the impression that the contract was finalized. This would be considered a bilateral contract due to two promises and two performances. BTT would perform by distributing the product but would first promise to pay the twenty five thousand dollars. Chou promised to sell the negotiation rights and the performance was to turn them over to BTT for twenty five thousand dollars. 3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)? Since both parties were communicating through email, it does not have an impact on my analysis because of the factors stated earlier of a binding contract. The emails do reinforce the contract in the courts. 4. What role does the statute of frauds play in this contract? The statue of fraud applies to a sale of goods above 500 dollars. Since this...
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...Case Scenario: Big Time Toy Maker LAW/421 May 5, 2015 Case Scenario: Big Time Toy Maker At what point, if ever, did the parties have a contract? The two parties, Big Time Toymaker and Chou entered into a contract when they came to the initial agreement where Big Time would pay $25,000 for exclusive negotiation rights for a 90 day period. What facts may weigh in favor or against Chou in terms of the parties’ objective intent to contract? The biggest factor in favor of Choe is that in the initial exclusive negotiation agreement, it was stated that no distribution contract existed unless it was in writing. Even though Chou never drafted an actual contract, the manager of Big Time sent an email with all of the details of a contract to him. Since all four parts of a contract existed, this is a contract, even though the email did not say so. Does the fact that the parties were communicating by e-mail have any impact? The fact that the parties are communicating by email gives tangible proof to the agreement being made and proof of the 4 parts to a contract. What role does the statute of frauds play in this contract? The Statute of Frauds requires contracts to have signatures. If this contract is found to fall in this category, which it may since the value is over five hundred dollars, it may be found invalid. Now, depending on what state, the fact that both parties responded via e-mail, their name signed at the end may be considered an electronic signature...
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...Case Scenario Big Time Toy maker Aragon Week4 Instructor Rosale Lopez April 16, 2014 Level One Heading Option Contract and Distribution Agreement After reading this scenario, Big time toy maker and Chou did take part in an oral contract. In a meeting between BTT and Chou oral Documents were signed which bind both parties to fulfill certain obligations. A written contract was not necessary since this was a contract mainly dealing with services to disseminate the game, not a production contract or a sales contract Had it occupied a good contract to buy, sell which under which under the Statutes of Frauds would not be a contract until all the terms were not put in writing: that occurred when the supervisor from BTT emailed the terms which would have included his electronic signature and thus would have sealed the contract between the two. Furthermore whenever the contract is under (general) law besides the (mailbox) rule could say it went into effect when it was sent and not received. Into effect when was sent but not received. The analysis of the case verifies that the two parties were definitely not involved in a binding of the contract they never had a written contract or documented legal frame work. But the parties did have a...
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...Big Time Toy Maker 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? Chou could take BTT to court for breach of contract. When BTT paid Chou $2,500 for, and Chou gave BTT exclusive negotiation rights for 90 days, they both mutually assented to a legally binding agreement. Under the Uniform Commercial Code (UCC), if the contract of the sale of goods is $500, or more, and any lease transactions for the sale of $1000, or more, the statute the statute of frauds apply (Melvin, 2011). The $2,500 Chao received met this requirement. When BTT sent Chou an email 3 days before the expiration of the 90 day agreement, which included the price, time frames, and the obligations of both parties, it signified to Chao that BTT still intends to do business with Chao, and meets all the requirement for a contract. Chao's intentions were to draft the contract as agreed upon, but Chao made a unilateral mistake, he had an erroneous belief that the email between BTT and Chao, with all the terms already in it, plus the mutual assent of the two parties, was the actual contract. Thirty days passed before BTT, requested the distribution agreement contract from Chao, by fax. Up to this point, Chao thought he already had an agreement through the email. By BTT sending the fax, it signifies to Chao that the BTT wishes to proceed with the business transaction. Chao sends the draft immediately...
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... BIG GROUP CASE STUDY By Bhuiyan Shariful Kudret Demirkol Alam Mujub Ye Yu LONG ISLAND UNIVERSITY February 27th, 2012 INTRODUCTION The Big Idea Group (BIG) was created by Micheal Collins to help both inventors and corporations meet the innovation challenge. BIG partners with inventors and companies to identify, develop and bring to market innovative ideas. Before BIG Collins founded Kid Galaxy in 1994, a specialty toy company and became a producer of the award-winning Bendos line. Bendos, a line of Gumby-like figures eventually helped Kid Galaxy gross $5 million a year. But Collins, who held just a 4% stake in his company, says he felt there was little growth in store. Collin is exposed to Clayton M. Christensen, a Harvard Business school professor who posited a theory about why companies fail, even with great technology, in his book The Innovator's Dilemma. The professor gave him an endorsement and an undisclosed investment for an idea-hunting company. A year later Collins became a success with Tiny Totes, a set of mini-handbags girls could use to store collectibles. Tiny Totes was designed by an Indianapolis woman who had tried for a number of years to break into the toy business and Collins was able to give her the first break. Almost all of Collins' products are new ideas for toys and consumer products. Collins is now looking to diversify his company Big Idea Group (BIG) which has become successful in the toy industry ...
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...Spin Master Toys (A): Finding a Manufacturer for E-Chargers 1. What is your assessment of the process that Spin Masters has used to get to this point? 2. As Alex Perez, which of the two potential suppliers would you choose? Why? 3. Discuss an implementation plan for your decision. Summary Spin Master Toys of Toronto, Ontario, a company who had been successful in creating fad items was about to roll out a new line of airplanes that were going to be powered by electricity called E-Chargers. With a delivery date to the retailers of December 7, 1999, they were now trying to decide from which supplier to purchase the design and production of this rollout. They had investigated a number of suppliers and managed to narrowed it down to two, Wah Shing and Wai Lung. They had to make a choice quickly. Analysis Evolution Anton Rabie, Ronnen Harary and Ben Varadi all graduated from The University of Western Ontario. Varadi and Rabie from the Ivey Business School and Harary from political Science. They all chose not to go into the corporate world and pursued their own dreams by creating successful fad items. Some of those items were Grow-Things, Earth Buddy, Radical Reptiles and many more. In 1996 Spin Master rolled out its Air Hogs line of compressed-air-powered planes which they manufactured in China. Before they decided to do it, it took them time to digest the idea, they thought it was too ambitious. After their success with Air Hogs, they rolled...
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... 3. The Team 5 4. The environment 6 4.1 Macro environment analysis 6 4.2 Market determination 8 4.3 Competition analysis 8 4.4 Supplier analysis 10 4.5 SWOT-Overview - Key issue matrix 10 5. Marketing strategy and marketing mix 12 5.1 Marketing strategy 12 5.2 Market potential 12 5.3 Marketing Mix 13 2 Product After some years in declining of the toys purchasing in the Netherlands, there is a trend from the last year, which will continue this also, of increasing the number of purchases this year. As the economy is recovering from the financial crisis people are able to spend more for toys. So the toys industry has positive expectations for the future. EduPlay solves one very big problem of its competitors’ games. The other board games have only several questions in their box. When somebody plays the game many times he will learn the questions by heart and there is no point to play the game anymore because it becomes boring. The innovation of EduPlay is that there are online questions updates every month so you can change your questions and learn new things with them every month. In that way the customer can play it for more than just one month. Every parent wants his child to be well educated. But every child prefers to play with friends some games than studying his boring school subject. Here comes the idea of EduPlay...
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...interoffice memorandum to: | James Smith; CEO, Big Toy Co. | from: | Joe Polley; Division Manager, Big Toy Co. | subject: | John Doe – Constructive Discharge Claim | date: | February 22, 2014 | On January 13, 2014, John Doe (“Doe”), a production employee at the Dayton, Ohio facility, tendered his voluntary resignation claiming religious discrimination. Doe, up until his resignation, worked for Big Toy Co. in a variety of positions for over twenty years with no recorded employment or discipline issues. On January 19, 2014, Doe filed a claim against Big Toy Co., citing constructive discharge under Title VII of the Civil Rights Act of 1964. The claim specifically relates to his belief that he “…had no choice but to quit” because his religious beliefs were not being respected. Background Employment records show that Doe had worked the same schedule as a production worker at the Dayton, Ohio facility for fifteen years prior to his resignation. Doe’s schedule was Monday through Friday, 8:00am to 5:00pm. Because of Big Toy Co.’s growth, beginning January 1, 2014, the entire production staff’s schedule was changed, and they are required to now work 6:00am to 6:00pm, four days on, four days off on a continual rotating basis. However, the production office staff remains on the 8:00am to 5:00pm, Monday through Friday schedule. When Doe tendered his resignation to the shift supervisor, the question was asked why he was quitting. His response was the fact that the new schedule...
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...What I’m passionate about is making pc and video game I’m the passionate about. So why am I in to pc and video game, well it really stared with me as a about 4 or 5 year old. And I had a broke toy car and I went to my dad tool box and got the tool try which one work and did not work on the toy car. And I end up with my toy car all in parts, and so what I did to it is that I try to put it back to gather as it was and I did but the toy car was still broke, bit that was just a new that I so love to do. So once I was about 6 to 10 year old I stared to open toy with the tool and my dad well just get mad at me time to time. But I just love to do thing like that, just see how it works in the inside and then put it back to gather. And then there is me one year older brother was so much in to that fix toy. But all the time I tell he to help me in to me toy work that I was doing. So I was the one that got all the mass up and broke and try fix again, but my brother in the other hand had a much defiant mind then me. He was the one that said do or bad thing can happen to us. But I got brother to help me one way or another....
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...Assignment 1: Individual case analysis report Mahmud Safari (21295746) 1 Individual Case Analysis Report LEGO (A): The Crisis Mahmud Safari 21295746 Assignment 1: Individual case analysis report Mahmud Safari (21295746) 2 Table Of Contents 1.0Introduction 2.0 Analysis of General Environment 2.1 Economic 2.2 Socio-‐Cultural 2.3 Global 2.4 Technological 2.5 Political/Legal 2.6 Demographic 3.0 Analysis of the Industry...
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