Big Time Toymaker Essays - Contract Law, Contract, Mistake

Big Time Toymaker Essays - Contract Law, Contract, Mistake Big Time Toymaker LAW/421 November 10, 2014 Big Time Toymaker An agreement recognized by a court of law is called a contract. A binding contract is the result of an agreement, whether the agreement is verbal or written, providing certain requirements be met (Melvin, 2011). The purpose of contracts is to provide protection to both parties involved in the agreement. In this simulation, Chou had invented a revolutionary game, Strat, which had piqued the interest of Big Time Toymaker (BTT). Chou and BTT entered into an agreement that gave BTT exclusive rights to Chous inventory for the period of 90 days in exchange for a monetary transaction of $25,000 (Melvin, 2011). Evaluation of this particular situation will lead to the discovery of some of the pros and cons a contract can provide, how to determine if a contract is necessary in a situation, as well as a few remedies should a breach of contract occur. Contract Melvin (2011) stated, BTT was interested in distributing Strat and entered into an agreement with Chou whereby BTT paid him $25,000 in exchange for exclusive negotiation rights for a 90-day period. The exclusive negotiation agreement stipulated that no distribution contract existed unless it was in writing (p. 155). These are concrete terms that form a verbal agreement, which was held in place, that lead to the creation of a written agreement. Even though none of the e-mails exchanged between Chou and BTT ever actually contained the word contract, the e-mails clearly showed that all of the terms were agreed upon by both parties involved, which meets the requirements that outline a contract. Positive and Negative Facts of Agreement This particular simulation provides several facts that are in favor of and against Chou in terms of the parties objective intent to form a contract. The first fact in Chous favor is the first meeting where an agreement was made with BTT regarding the monetary exchange for exclusive negotiation rights. BTT sending over a follow-up e-mail that clearly stated their agreed upon terms was a second fact in favor of Chou, as well as the fax from BTT requesting that Chou create a draft for an actual contract. Chou also had in his favor the fact that both parties spent a notable amount of time acting under the agreed upon terms of the drafted contract. However, because the negotiation agreement stated that there would be no contract for distribution unless otherwise stated in writing, and BTTs e-mail that repeated the agreed upon terms did not contain signatures from either party, binding the contract, the oral negotiation agreement passed the 90-day deadline with no technical contract in pla ce. It was not until several months had passed that that BTT had requested a draft of a contract. Impact of E-mail Thanks to the evolution of technology, in the paperless world of electronic communications, a paper communication is no longer necessary to hold to the bond of an agreement. The e-mails exchanged between Chou and BTT outlines an agreement made by both parties based on the terms agreed upon in the meeting regarding distribution. Without the e-mail exchange identified as a contract by written words, it displays an acknowledgment by Chou and BTT of an existent contract. According to Melvin (2011), because the e-mail provided a senders name at the bottom of the message, the Mailbox rule applies, and the name is to be considered an electronic signature. Statute of Frauds Melvin (2011) states, Under the Uniform Commercial Code, the statute of frauds applies to any contract for the sale of goods for $500 or more, and any lease transaction for goods amounting to $1,000 or more (p. 151). Because the $25,000 was received by Chou under the negotiation agreement, the sale of goods should be considered for the Strat game. The electronic signature at the bottom of the e-mail from BTT to Chou is also considered, especially since the e-mail clearly stated the agreed upon terms. Chou could use the fact that the whole scenario was misleading because there was an exchange of money for goods, a verbal agreement, and an e-mail containing all of the elements of a contract. Doctrine of Mistake Melvin (2011) defines a mutual mistake as A mutual mistake may be the basis for canceling a contract (also

Vitamins May Hurt Your Health

Vitamins May Hurt Your Health MSN ran a feature about ConsumerLab.coms investigation into the purity of multivitamins. The lab looked at 21 brands of multivitamins for sale in the U.S. and Canada and found only 10 of these brands met the labeled claims or otherwise met quality standards. That doesnt have to mean anything earth-shattering. It could have been the other brands were close to meeting standards or had minor problems. However, the quality issues were ones that could actually hurt your health. The Vitamin Shoppe Multivitamins Especially for Women were found to be contaminated with lead. Now, lets put this in perspective. Several calcium supplements run the risk of lead contamination, because lead and calcium participate in many of the same chemical reactions and are difficult to separate. That trace amounts of lead would be present might be expected. However, ConsumerLab.com reported a daily dose of this mulitvitamin contained a whopping 15.3 micrograms of lead (more than ten times the amount permitted without a warning in California). To make matters worse, though you got some bonus lead for your bucks, you only got 54% of the stated levels of calcium. Another vitamin posed a different risk. Hero Nutritionals Yummi Bears, a kids multivitamin, contained 216% of the labeled amount of vitamin A in the retinol form [5,400 International Units (IU)], which is considerably higher than the upper limit set by the Institute of Medicine of 2,000 IU for kids ages 1 to 3 and 3,000 IU for kids ages 4 to 8. Vitamin A is one of the vitamins where more is not better. Instead, too much vitamin A can weaken bones and cause liver damage. Are these quality control issues? Yes, but I would have been surprised if the lab had found the vitamins met their stated claims. Why? For two reasons. First, vitamins arent regulated by the same standards as medicine. They are considered supplements and not drugs. Your best defense against this is to buy a product from nationally-recognized reputable source with an interest in protecting its good name. The other reason I wouldnt expect vitamins to contain exactly what is listed on the label is simple chemistry. Vitamins, by their very nature, are reactive. The quantities listed in a product will change over the course of its shelf life. Your main protection here is to not take vitamins past their expiration date. Should you take a multivitamin? Ask yourself whether the potential benefit outweighs the risk. If you are taking a major name brand multivitamin, you are probably getting approximately what is listed. Even then, expect some variation within the product and some degree of heavy-metal contamination with products that include minerals. These vitamins generally are safe, but dont take them automatically assuming they will help you.

Fashion photography and lens based images Essay

Fashion photography and lens based images - Essay Example The essay "Fashion photography and lens based images" analyzes the photography in fashion. Compared to other forms of photography, commercial photography is generally carried out by a photographer in order to sell the images. This stands in contrast to art based photography that is more aesthetic in character. Commercial photography in itself has diversified into a number of different applications that involve retail, wholesale and professional uses. Images are a powerful method of moving ideas from one person or situation to a wider audience. One of the more prominent features of images is their ability to carry the same idea to a wider audience. For this reason commercial photography has been used widely for advertising various kinds of themes and ideas. Perhaps one of the more distinguished forms of commercial photography in use for distributing ideas to the wider audience is fashion photography. Companies dealing with fashion products require for their products to be shown to the wider audience. Photography represents one of the easiest methods to move such ideas across the manufacturing table to the audience that actually wants to buy the product. However, unlike other forms of advertisements mired in photography, fashion photography tends to differ in more than one respect. One of the more prominent differentiation between fashion photography and other forms of advertising photography is the use of human models in order to provoke want. The primary focus of fashion photography.

Anatomy and physiology, Economics Essay Example | Topics and Well Written Essays - 3000 words

Anatomy and physiology, Economics - Essay Example In this essay, the effects of cigarette smoking on the health of people and the economy of the nation will be discussed. According to the CDC, in the United States, about 19.8 percent of all individuals over 18 years of age smoke cigarettes. It has been estimated that 43.4 million people in the country resort to smoking. The activity is more in men than in women, While 22.3 percent of men smoke, only 17.4 percent of women smoke. The highest incidence of smoking is between the age groups 18- 44 years and the lowest incidence is in the age group beyond 65 years. American Indians/ Alaska Natives have the highest incidence rates of smoking amongst ethnics groups, the rate being as high as 36.4 percent. The lowest rate is seen amongst Asians (9.6 percent). In the year 2007, it was estimated that 20 percent of high school students resorted to smoking (CDC, 2009). The rates were similar in girls and boys. While 21 percent of boys were smoker, 19 percent of girls were smokers. As far as ethnic groups were concerned, 23 percent of White high school students, 12 percent of Hispanic high school children and 12 percent of African American students were smokers. Every day, approximately 2900 young people between 12- 17 years of age group resort to their first experience of smoking (CDC, 2009). Smoking is associated with many health-related problems and hence is a major health-related issue. It is a leading cause of illness and death all over the world and also in United States. It affects almost every organ of the body, causes many diseases and reduces the general health of the smoker. It has been estimated that 1 in every 5 deaths in the United States is related to cigarette smoking. Every year about 438,000 deaths occur due to cigarette smoking (CDC, 2009). According to CDC, for every single individual who dies due to cigarette smoking, 20 more people suffer from atleast one serious ill effects of smoking.

Liberty And Paternalism Essays -- essays research papers

LIBERTY AND PATERNALISM   Ã‚  Ã‚  Ã‚  Ã‚  John Stuart Mill and Gerald Dworkin have distinctly opposing views on legal paternalism in that Mill is adamantly against any form of paternalism, whereas Dworkin believes that there do exist circumstances in which paternalism is justified. Both agree that paternalism is justified when the well being of another person is violated or put at risk. Mill takes on a utilitarian argument, explaining that allowing an individual to exercise his freedom of free choice is more beneficial to society than deciding for him what is in his best interests. Dworkin, on the other hand, feels that certain cases require the intervention of either society as a whole or its individual members. He breaks Mill’s argument down into two distinct types, one based on utilitarianism and one based on the absolute value of free choice.   Ã‚  Ã‚  Ã‚  Ã‚  After reading both articles, â€Å"Paternalism† by Dworkin and â€Å"On Liberty† by Mill, I believe that Dworkin is correct in explaining that some intervention is necessary under certain circumstances. I have come to this conclusion based on the fact that there do exist circumstances in which an individual is incapable of making a rational decision considering not only the well being of himself, but also the well being of other members of society. Also, the argument that the protection of the individual committing the action in question is not reason enough to interfere with the action is ludicrous in that one of our governments main reasons for existence is to protect the members of our society. This protection includes protection from ourselves at times when we are unable to rationally decide what is in our best interests. This essay will consist of an examination of this controversy as well as an application of my proposed conclusion.   Ã‚  Ã‚  Ã‚  Ã‚   Before addressing any opposing views to my conclusion, I will first explain my reasoning. As Dworkin explains in his essay, there are circumstances when a person is unable to make a rational and logical decision for himself. The inability to make such decisions has long been a justified reason to interfere in the process, such as in cases with young children. When a young child is about to run across a busy street in order to chase his ball, the child’s parent, or any other bystander, is rightfully justified in... ...f such a decision, the government has aright to step in and help the person. This is because at this understanding of the situation, the person is not capable of making a decision that he would likely consent to at after fully understanding the situation. As in the seat belt case, often times, a person does not fully understand that not wearing a seat belt contradicts his true desires and that no possible good or benefit can come from not wearing it. However, when a person is making a rational decision between two things that he values, he is the only person that can decide which is best for him. An important condition to remember in this conclusion is that all of this is assuming that no other individuals are being harmed or put at risk by the actions of these people. Under this condition I have come to the conclusion that there do exist certain circumstances where the government has a right to legal paternalism. These circumstances include times when an individual is unable to make a rational and logical decision for himself either because he does not fully understand the issue or because he is unable to logically assign value to specific possible consequences of a decision.

Metapath Case Essay

Metapath was a hi-tech company providing software products for wireless carriers. It had a revenue of 22 million and was emerging as the premier company in its market space. The ultimate goal of the founder, Hansen, was to see the Metapath go IPO in two years. However, this company confronted two main obstacles for that goal: concentrated customers and fluctuant quarterly revenues. To expand his business and also solve these problems, Hansen need to again raise more money. Like most of the software companies, Metapath demands continuously money supply during the premature period of its life. The main financial strategy of Metaph was to raise several rounds of money by turning to venture capital investors: get money from them in exchange for Metapath’s preferred stock and a promise to redeem or convert to commom stock in event of IPO. It had raised $ 9 million in four rounds of financing before 1997, in which STI and Bessemer participated in the first two rounds. Unlike the fol lowing standard convertible preferred stock instruments, these first two rounds had a structure called â€Å"straight redeemable, cheap common†, which required a principal payment in the future, making the two classes of preferred stock more like debts. Therefore, by paying yearly (or quarterly) dividends and guarantying the safety of principle value to venture investors, Metapath raised its first four rounds of capital. Selling the company to CellTech could bring Metapath many advantages. First, CellTech offered an attractive price $115 million, relatively large for a premature company with revenue of 25.6 million and negative income -$1.9 million. Second, it was already an public company, which prevented the dilution of possible further financings. Third, by merging with CellTech, Metapath could achieve synergy from expertise of CellTech’s engineers, and the fully-formed marketing and domestic sales organization. However, since the merging was plan to be in stock exchange and CellTech had gone public only few months, information could be limited to value its stock price fairly. Also in the big environment of late 1990s, too much investments in high-tech companies made this industry overheated, and CellTech could be overvalued by analysts. For the VC option RSC offered, one big advantage was that the immediate cash flow of $11.75 million, which would be very helpful for Metapath’s operation. Another advantage was that it bought time for Metapath to initiate an independent IPO in the future, which had potential to worth more than CallTech offered. But it brought  concerns to Metapath as well. RSC brought up the strike term called â€Å"participating convertible preferred stock†, at which holder could not only convert from the preferred stock, but also in the event of sale, receive face value and participate in further consideration of common stock. This term could make a sale of Metapath extremely dilutive to the founders.

The Music Of Elvis Presley - 916 Words

There were many types of bands and many diverse forms of music coming out and showing up in the 1960’s. It was a time for a new form of music, a new sound, it was time for a revolution. There were all types of music being played and new music being created. There were all sorts of bands playing different kinds of music and playing with their own styles while taking over the airwaves. Whether it be rock, soul, or any other type of music, it was a revolution. This also led to new bands forming and breaking into the industry. In the Sixties rock music came of age and dominated the popular music charts. Elvis Presley continued to score hits in the early part of the decade, but the music continued to diversify with music like the folk revival, the Brill Building sound, Phil Spector s wall of sound, girl groups and surf music, all impacting the early part of the decade. The Motown, Stax and Atlantic labels brought more African-American artists to the forefront of the pop charts. By 1964 American artists were sharing the top of the charts with U.K. bands led by great bands like the Beatles and The Rolling Stones. In the U.S. garage bands emerge, inspired by the British Invasion sound. (RockMusicTimeline, 2010-2015) There were many bands that were ruling the airwaves and even just beginning and making their name in the music industry. From the Beatles to Led Zeppelin, all the way to Black Sabbath in the category of Rock. Songs ranging from â€Å"Hey Jude† to â€Å"Whole LottaShow MoreRelatedThe Music O f Elvis Presley898 Words   |  4 PagesThere were plenty of music coming out and showing up in the 1960’s. It was time; time for a new form of music, a new sound, it was time for a revolution. There were all types of music being played and new music being formed. There were all sorts of bands playing different kinds of music and playing with their own styles while taking over the airwaves. Whether it be rock, soul, or any other type of music, it was a revolution. This also led to new bands forming and breaking into the industry. In theRead MoreEssay on Elvis Presley and African American Music1667 Words   |  7 Pagesagain agree on anything as we agreed on Elvis.† (Bangs 1) Elvis not only made significant contributions to the music industry, but he became the most famous idol across the world and in the U.S.A. Elvis Presley was regarded as one of most influential rock n’ roll performers of the century. If you say â€Å"The King of Rock† everyone will automatically know you are talking about Elvis Presley. Through his music, Elvis paved the road for African Americans to the music world, and he had essentially revolutionizedRead MoreElvis Presleys Influence on American Culture Essay1236 Words   |  5 Pages Elvis Presley is one of the biggest names in rock and roll. Singer, musician and actor he was an American icon. He is best known as the King of Rock and Roll. His musical influence included the country and pop music of the time, the gospel music he sang in church and the black RB mus ic he listened to as a teenager (Comprehensive History of Elvis Presley’s Dynamic Life). Elvis has influenced American culture not only while he was living but also in today’s 21st century. It wasn’t easy for him toRead MoreThe Impact of Rock n Roll on the Civil Rights Movement1590 Words   |  7 Pagesstarted at the same time. The genre originated from African American music and was greatly discriminated against. Traditional white Americans would target anything bad about it. But as the teenager demographic of the 1950s started increasing the sales of the music, the genre started gaining more popularity. It was the style of Elvis Presley and his new voice that made girls weak in the knees and boys want to be him. Artists such as Presley had enough influence to change the view of their devoted fans onRead MoreHow Elvis Influenced And Changed The Entertainment Industry Of Rock N Roll Era1408 Words   |  6 Pagesappropriately analyze the question of â€Å"Ho w Elvis influenced and changed the entertainment industry of Rock ‘n’ Roll† the reader must first clearly define and understand the timing and age of the development of his musical career as well as the characteristics of his music. When attempting to clearly understand the implications of his influence on the era, the reader must fully comprehend his early life and the development of his musical career, the type of music he portrayed to his audience, and how heRead MoreElvis Presley Essay1096 Words   |  5 PagesElvis Presley Essay When historians look at history and at reasons why society changed many focus on conflicts like wars, civil rights, and poverty. However, there is so much more that over time changed America. One of the most influential subjects that helped this change was Elvis Presley. Through his music, which was influenced by black artists, he allowed white Americans to view a new group of performers. He tested social boundaries that helped him change American culture. His appearance andRead MoreElvis Presley : An American Legend750 Words   |  3 PagesBrenden Blakney Lit II P.9 Elvis Presley Biography On the 8th of January in 1935, Gladys Presley (mother) and Vernon Presley (father) gave birth to twins. One of which is an American legend known as Elvis Presley, and the other Jessie Garon was stillborn. That left Elvis growing up in Tupelo, Mississippi as an only child in a working class family. In Tupelo Elvis’ family had many relatives, close by such as uncles, aunts, and grandparents. His family had little income, but Gladys and Vernon didRead MoreElvis Presley Influences876 Words   |  4 Pagesaccomplished or done. These influential individuals have strengths and weaknesses and are remembered for both. Elvis Aaron Presley can be seen as influential because he greatly affected the music business. He paved the road for Rock n’ Roll and after all he was a very respected individual. Elvis was unique and different and held very great attributes. He pushed the boundaries and limits of music, and he showed his style and personality through his work. â€Å"In 1954, the performer kicked off a musical revolutionRead MoreElvis Presley : The King Of Rock And Roll1674 Words   |  7 PagesElvis Presley, though having a troubled childhood would not have expected anything that headed his way; He was a normal child whose family was struggling to make ends meet. His father was incarcerated for doing illegal activities, making difficult for young Presley to wish for something more. As he grew up, Presley was involved in the schools singing service and had participated in the fair singing contest winning second place; thus showing Elvis’s love for singing. Despite after graduation, he simplyRead MoreControversy with Elvis Presley968 Words   |  4 PagesRock and roll music existed before Elvis Presley came along, but with his arrival on the performing scene, Americans could ignore it no longer. In 1956, he strode in front of a television camera for the first time as the provocative image of a high school hood and achieved an instant rapport with millions of U.S. teenagers who were experiencing their own adolescent rebellion. Hip-wiggling gyrations that brought a storm of protest from the adult world reinforced