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Toy Maker

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Submitted By adrine
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Big Time Toy Maker
1. At what point, if ever, did the parties have a contract? In the theory of practice, big time toy maker, the parties involved did not have a contract. In the scenario it stated that the parties had reached an agreement 3 days prior to the end of the 90 day deadline, which was set in the negotiation period.” The exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing. Just three days before the expiration of the 90-day period”. (Melvin, 2011,). If there is no legal binding and no signature, then there is no contract.
2. Some facts weigh in favor or against Chou in terms of the parties’ objective intent to contract are • The board games were already paid out by BTT, which was $25K for the exclusive negotiation rights. This helps Chou to believe that the company had intent in arriving at a distribution agreement • An oral agreement meeting with a follow-up e-mail from the BTT manager on the key agreement. • A Fax from BTT requesting a draft for a distribution agreement contract agreement and Chou responded immediately Facts that weigh against Chou are:
• The negotiation statement stated that no contract exists unless it is in writing there was no signature to bind the contract.
• The 90-day deadline passed with only an oral agreement
• The word “contract” has left off the e-mail received from the BTT manager
• Chou failed to draft a distribution agreement contract until BTT sent a fax requesting that he do So, which took a month passed the 90-day deadline.
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 it did have an impact in analyzing question 1 and 2.
4. What role does the statute of frauds play in this contract? Frauds play under the common law agreement. Chou

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