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Big Time Toy Maker Case Scenario

521 words - 3 pages

Case Scenario: Big Time Toy Maker
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 ...view middle of the document...

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, thereby making this contract valid.
Could Big Time avoid this contract under the doctrine of mistake? Explain. In Doctrine of Mistake, certain contracts can be voidable if certain facts that were believed in the early stages are found to be false later on. I do not think Big Time can avoid this contract, because all of the facts were laid out in detail in the beginning and nothing has been found to be false.
Assuming, arguendo, that this email does constitute an agreement, what consideration supports this agreement? Both parties replied via email stating agreement and consideration. Both parties seemed to exhibit contractual capacity and this game appears to be a lawful object. These four parts to a contract are clear cut and support the agreement. The only issue that I see may be a problem is that there is no typical signature on either side, but in this day of technology, your response and name on your e-mail may be considered an electronic signature.
Remedies that might or might not apply. If it is proven that Big Time has violated the terms of this contract, Chou can pursue legal action in a court of law. To avoid this , Big Time may come to another agreement that might not be as costly as the original deal, but may satisfy Chou to keep from an expensive legal battle in court. To avoid this in the future, both parties may want to draw up an actual written contract immediately after coming to any agreement.

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