Bigtime Toymaker Law/421 Essay

1373 Words Jul 26th, 2012 6 Pages
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Essay Sample
Case Scenario: Big Time Toymaker LAW/421 Case Scenario: Big Time Toymaker In this scenario, Big Time Toymaker had entered into an option contract with Chou whereby they paid him $25,000 for exclusive negotiation rights for distribution of his strategy game for 90 days. This negotiation agreement stated that no contract existed unless it was in writing. Three days before the 90-day period was over, BTT and Chou reached a verbal agreement at a meeting. Chou was to draft the agreement, but

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It allows a contract to be enforced based on past commercial conduct, documentation, verbal exchanges between the parties, and industry standards and norms (Martin, 2011). Their own rules under section 1-304 states that they impose a duty of good faith in the performance and enforcement of every contract within their power. They know that when judging disputes about the content of a contract, courts use interpretation rules in guiding their analysis. While section 2-204 of the UCC allows a contract to be formed based on the conduct of the parties involved, the elements and terms of a contract must still be apparent (Martin, 2011). Though it is not necessary to have a certain time of formation, the past conduct of the parties involved will show a basis for a reasonable person to believe that a contract exists.
To be enforceable, an agreement to buy and sell goods for a price of $500 or more must normally be evidenced by one or more signatures. “Strat” is considered a saleable good as it is tangible and moveable according to the UCC (Martin, 2011). Before signing a written agreement, parties participate in negotiations that include discussions, letters, memos, e-mails, faxes, etc. These are intended to help the parties involved come to an agreement. The parole evidence rule states that any writing intended to be the final expression of agreement may not be contradicted by any agreements made prior to the writing. It does
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