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Big Time Toymakers

In: Business and Management

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Big Time Toymakers
Jessica Costin
August 19, 2014
LAW/421
Ric Hedges

Case Scenario Introduction
Big Time Toymakers makes board games all over the world. Chou came to BTT with a deal that if Chou would let BTT distribute their game STRAT. BTT offered that they would give him 25,000 in exclusive negotiation rights for a three month period. The deal between BTT and Chou began when the time frame was set. The obligations between the two were made and the price that would be given was also established through the emails.
Formation of a Contract
“A contract is formed when an offer by one party is accepted by the other party” (Fitzroy Legal Service (2014). The first step to a contract is known as offer and acceptance. Therefore this means that an offer that has willingness between the parties that want to negotiate or make a deal. The second step is the intent to create legal relations, which means that just because two people have an agreement it does not mean that they have a contract. A contract is only made when parties are in an agreeance in a legal binding agreement. The third step is consideration which states “that the price paid for the promise of the other party”. (Fitzroy (2014). The price paid does not necessarily mean that it has to be money. The fourth step is to make sure that the people that are in this contract that they are in the right mind. This means that they are not minors, bankrupts, or people that are in jail. The fifth step is consent, which means you are not forced into the contract. The final step is that if the contract can be voided out or if it is illegal.

Elements That Weigh in Favor and Against the Parties Intent to Contract
The element that helps weigh in favor for Chou is the fact that as long as there is still a signature in the email that is considered as an intent to make a negotiation. Therefore, since there was

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