...Case Scenario: Big Time Toymaker Law 421 Name Here 1. At what point, if ever, did the parties have a contract? This is a very interesting case. I think both parties should have had a lawyer present. The problem for Chou is it stated (The exclusive negotiation agreement Stipulated that no distribution contract existed unless it was in writing.) There was an email sent and Chou looked at the email as a form of a contract but in the legal terms nothing was signed or agrees too. Chou may have had a contract by legal terms because of the nature of the deal and dealing with a merchant. Imagine renting an apartment and the lease is not signed. Then you don’t have a lease agreement. I think Chou may be able to receive money for the verbal agreement in a private legal matter but nothing was ever signed. UCC Article 2 could apply because of the verbal agreement ( contract could be enforce in the court of law). I do think the emails help Chou in the court of law. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? I think the fact that both parties did reach a verbal agreement would help Chou. BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25,000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing. Just three days before the expiration...
Words: 1016 - Pages: 5
...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...
Words: 402 - Pages: 2
...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...
Words: 511 - Pages: 3
...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...
Words: 734 - Pages: 3
...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...
Words: 395 - Pages: 2
...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...
Words: 745 - Pages: 3
...I. Background Play Time Toy Company is a manufacturer of plastic toys for children that include toy cars, military toys, trucks, guns, animals, robots, action figures and such. These product categories are produced in a wide range of designs, colors and sizes. Play Time Toy Company was founded in 1973 by Henry Richards and Jonathan King. Manufacturing business for plastic toys was considered to be highly competitive due to the fact that this industry was populated by large number of companies. Though this kind of industry makes company experience a short on capital and management talent, it was easy for new competitors to start due to its minimal capital requirements and required technology (as compared with other business industry). Play Time Toy Company has experienced a rapid growth from the time it was founded. Accordingly, from 1973 until the early 1990’s, this toy company has specialized in seasonal manufacture, where they respond directly to the orders of their customers. However, there were a lot of problems that arose from this method of scheduling production. II. Problem Statement In order to provide the Play Time Toy Company with a more profitable operation, the production manager needs a scheduling production method that would help the company incur the smallest cost of goods sold, at equal level of sales, without jeopardizing the quality of the products. III. Objectives 1. To employ a scheduling production method that would: *...
Words: 2743 - Pages: 11
...GROUP 7 GROUP 7 TOY INDUSTRY SUBJECT: SMSP TOY INDUSTRY SUBJECT: SMSP DHARAM JOSHI VISHAL NARULA POOJA SAMPAT VINEET HARDA CHIRAG SHAH KUNAL PAREKH DHARAM JOSHI VISHAL NARULA POOJA SAMPAT VINEET HARDA CHIRAG SHAH KUNAL PAREKH GROUP MEMBERS GROUP MEMBERS India’s market potential The Indian toy industry is estimated at about 1.4 billion US dollars and until now has generated only 0.5 per cent of the global market. However, growth of some 15 % promises a rapid rise in this statistic, especially in the context of the growing middle class and increasing demand for quality and luxury goods. In recent years, cities like Ahmedabad, Bangalore, Hyderabad and Pune have become the most important manufacturing sites of the Indian toy industry. Among the local manufacturers in India about 59 % are still focusing on the production of cheap and unbranded toys which appeals to the price-sensitive Indian consumers. In the future it is expected that these companies will shift towards branded toys as well to stay competitive with international companies. Internet retailing is becoming a more and more important distribution channel due to several reasons. Consumers have increasing access to the internet and online retailers often have better merchandise in terms of variety, new launches and the offer of branded toys. The share of internet retailing in sales grew from 1 % in 2007 up to 18 % in 2012. Focus on quality Indian consumers pay more and more attention to high-quality...
Words: 3089 - Pages: 13
...The giant wooden activity cube is a toy that has 4 parts by the side and one above. The side parts there are a board, a watch, squares to spin and a rainbow xylophone. While the upper part of a cube there is a spin, slide and the beads. This toy improves more than a part of the child’s development areas. Firstly, it focuses on the cognitive side, as it makes the child to think. He/she will think where to takes the beads to reach the other side. In addition, it also supports the physical development, as the child will start moving his hand and fingers by playing with the whole toy. Furthermore, according to the toy’s age range it is around the age 12 months to 36 months, which means from the age 1 to 3. In my point of view, I see that the toy...
Words: 278 - Pages: 2
...Industrial Promotion and Technology Branch TECHNOLOGY PAPER SERIES 6/05 Technology Transfer and Trade: The Toy Industry in India UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION I N D U S T R I A L P R O M OT I O N A N D T EC H N O LO GY B R A N C H Technology Transfer and Trade: The Toy Industry in India TECHNOLOGY PAPER SERIES TPS 6/05 December 2005 UNITED NATIONS INDUSTRIAL DEVELOPMENT ORGANIZATION Vienna, 2005 UNIDO Industrial Promotion and Technology Branch Technology Paper Series TPS No. 6/2005 December 2005 Technology Transfer & Trade in Toy Industry of India Copyright © 2004 by United Nations Industrial Development Organization (UNIDO) The designati ons employed and the presentation of the material in this document do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations Industrial Development Organization (UNIDO) concerning the legal status of any country, territory, city or area or of its authorities, or concerning the delimitation of its frontiers or boundaries. The responsibility for options expressed rests solely with the authors, and publication does not constitute an endorsement by UNIDO of the opinions expressed. This document has been produced without formal editing. The views expressed in this report do not necessarily reflect the views of the Secretariat of the United Nations Industrial Development Organization. Any indication of, or reference to, a country, institution...
Words: 7419 - Pages: 30
...Ven Ramos Sociology 100 Professor Sellers 4 May 2015 Socialization of Gender Toys R Us has been around for many years. When you go online you will notice that the boys section have action-oriented categories and the girls section has homemaking, beauty and imaginary categories. The baby section is the only one that is not separated by gender. According to the text book Gender is defined as “ psychological, social and cultural aspect of maleness and femaleness”. According to the textbook, “girl toys revolve around themes of domestic, fashion and motherhood.” while “boy toys, are emphasize action and adventure and encourage exploration, competition and aggression”. The four toys that I chose for boys are: Hot wheels, Minecraft, LEGO Train set and Home Depot Deluxe Power Tool Set. The toys that I chose for the girls are: My Little Pony Twilight Sparkle, Barbie, LEGO Friends Dolphin Cruiser and the Wooden Kitchen Center. The Hot wheels cars are different in size and have multiple colors, which are usually dark colors such as black, blue, green etc. The cars can teaches boys how to identify cars and grow up to like them as the boys grow up. Minecraft started out as a videogame that became popular where toys created for boys to play with. The package comes with Steve, Pig, Chestnut Horse, Saddle, two Grass Blocks and two Hay Blocks. The toys mimic the game where boys pretend to be Steve, who is the main character of the game and goes out to the virtual world and builds...
Words: 855 - Pages: 4
...The impressions and messages that people receive as a kid affects the way people view things as they grow older. When people think of kid’s toys, people do not really think much more beyond the surface of the toy. Toys are some of the first things kids interact with, which means the messages that these toys send to the kids are impactful and will leave an impression on them. Boys and girls’ toys enforces multiple ideologies on how boys and girls should act and be. When going to any type of toy store, people can clearly see difference between the toys for girls and the toys for boys. Even the simplest of toys are separated by gender just because of the color scheme that it holds. Legos are simple toy blocks, but they have two separate sets, one for girls and one for boys. The appearance of the toy, the activities of each set, and the packaging of the toy reinforces stereotypes and the connotative meaning of boys and girls. One difference between the girl and boy Legos are their packaging. The packaging of the girl and boy Lego sets are almost completely different. The boy packaging has dark colors, such as blues, blacks, greens, yellows and reds. Some of the boy packaging also has just boys playing with the Legos on the front of it. When it comes to the boys’ Legos none of the colors are bright and colorful, but the girls’ Legos...
Words: 812 - Pages: 4
...Beyersdorfer (2013) suggested in 2004, the market size of the toy industry is worth $61% billion in the wholesales revenue, with a steady growth of 4% per year in the retail market for toys. Thousands of toymakers flourish the market to serve global demand while keeping track of the 3 new trends in the industry which are toys demand rise while product life cycles decline, children has less time to play, and lastly increase demand of technology integration in physical toy or online worlds. Changes in conduct of competitors have change as witnessed by manufacturing in Asia, entering diverse retail channels and engaging in heavy marketing efforts. Therefore, we recommends LEGO Group to first, bring back LEGO DUPLO concepts and offer to unexplored market by establish strategic partnerships. Second, increase investment in R&D of new product designs and innovations. Third, adopt internal supply chain monitoring system and LEGO retailers’ system integrator. As external analysis has suggested increase of retail competition sector in the toy industry and this will have effect on LEGO Group because internal analysis shows that firms have high operational costs and as a result the firm is making no profit. By implementing these recommendations LEGO Group will achieve lower operational cost, establish sustained competitive advantages which will led to higher market shares and customer satisfaction. ANALYSIS The nature of the toy industry as analyzed by adopting the Porter (2008) Five Forces...
Words: 1559 - Pages: 7
...The toy industry has been a thriving industry around the globe for a very long time. Manufacturers of toys have invested billions of dollars to come up with new ideas, that fits the expectations of everchanging preferences of children who are the main consumers of the products. Today in the post-fordest era of capitalism and globalization, this industry effects so many people from different areas of the world. After studying the commodity chain of toys with geographer’s perspective this paper will conclude how, despite being a multi-billion-dollar industry (World Toy Market, 2007-2016), the current commodity chain of toys is inefficient benefiting only the executives that dwells in modernized/developed countries like USA at the expense of the...
Words: 256 - Pages: 2
...there in the nick of time because then the sister came down dressed in black with dark green hair going to her be not even glancing at us. She turned on the light and unveiled here goth bedroom and I mean everything that you saw was black and green. After that the long awaited time we could finally have cookies, that I completely forgot about during my extreme effort to get the soccer ball, but they were very taunting sitting on top of the T.V out of our reach, we all got some cookies. Then we were released to go outside, in the backyard there wasn’t much to play with there were a couple balls and a cracked sand box. We were playing with the balls when it was time for nap. Oh naps were the best thing but the frosted cookies are very close. Then we napped...
Words: 995 - Pages: 4
