Contracts Review: Super Comic Problem

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Contracts Review: Super Comic Problem




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Presentations text content in Contracts Review: Super Comic Problem

Slide1

ContractsReview: Super Comic Problem

Review

Super Comics

1

Slide2

Super Comic ProblemIs there an enforceable binding contract?

Slide3

Super Comic ProblemIs there an enforceable binding contract? What do you need to have one?

Slide4

Super Comic ProblemIs there an enforceable binding contract? All material terms agreed.

Intention to be bound. Consideration

Slide5

Super Comic ProblemIs there an enforceable binding contract?

all material terms agreed. Yes at their meeting. (BUT If ever negotiated a license agreement what you might consider standard can be serious issues)

Intention to be bound. (Maybe if writing is a formality. You said drafting was easy as what you consider standard. Said at meeting draft was for approval of JayRan president implying negotiators not have authority to agree thus it is still subject to approval and agreement. Thus although the two individuals agreed, the entities may not intend to be bound until presidents approved)

Slide6

Super Comic ProblemIs there an enforceable binding contract? MaybeIf not was letter an offer?

Slide7

Super Comic ProblemIs there an enforceable binding contract? MaybeIf not was letter an offer?

Must be definite and contain all terms.

Must make clear that no further assent of offeror needed.Can offer be revoked before acceptance?

How can they accept? Does mailbox rule apply?

Slide8

Super Comic ProblemIs there an enforceable binding contract? Need

If not was letter an offer?Must be definite and contain all terms. But marked draft.

Must make clear that no further assent of offeror needed. But Super did not sign. If parties saw this signature as formality and signature of you on the letter was enough to bind the company then could be an offer.

Can offer be revoked before acceptance?

How can they accept? Does mailbox rule apply?

Slide9

Super Comic ProblemIs there an enforceable binding contract? Need

If not was letter an offer?

Must be definite and contain all terms. But marked draft.Must make clear that no further assent of

offeror needed. But Super did not sign. If parties saw this signature as formality and signature of you on the letter was enough to bind the company then could be an offer.

Can offer be revoked before acceptance?

Option Contract

Need to revoke before they accept. Fax before you call so they don’t mailbox accept.

How can they accept? Does mailbox rule apply?

Slide10

Super Comic ProblemIs there an enforceable binding contract? Need

If not was letter an offer?

Must be definite and contain all terms. Must make clear that no further assent of

offeror needed. Can offer be revoked before acceptance?

How can they accept? Does mailbox rule apply?

You sent by messenger. Maybe court holds that must be accepted by same method.

“Return to me’ require receipt for acceptance. Maybe but vague.

Slide11

Super Comic ProblemWhat could you have done in your letter to avoid acceptance.

Slide12

Super Comic ProblemWhat could you have done in your letter to avoid acceptance. “This is not a legally binding offer to a contract but subject to approval.”

Slide13

Super Comic ProblemIs there anything you should do now? Call to revoke?


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