¶ … Practice
BTT and Chou contractual agreement
BTT (Big Time Toymaker) and Chou are two individual entities that casually agreed on an oral contract to exchange a business product. Chou provided a new game strategy to BTT, a business entity that manufactures, and distributes games. BTT agreed to obtain the new game and distribute to the expected clientele. In return, Chou was to receive 25000 dollars. However, this agreement was done casually. There was no witness at the time of agreement. In addition, the two parties did not sign any official document except to the exchange of a fax from BTT. The result of this negotiation was not concluded. BTT stopped communicating with Chou after receiving a draft for the new game strategy (Strat).
A Definitive Position
Chou is a client that should be advocated for because he has an upper hand in this business link having fulfilled all his requirements as requested and agreed previously with BTT. As a partner, Chou responded positively to the request to forward a draft of the new game (Strat) to BTT. He stayed positive throughout the negotiation period of 90 days. Chou was at the forefront to initiate the agreements between the two parties. Although Chou was not strict, as a partner he showed utter interest to the business throughout unlike BTT who quit in the end.
As an independent person in this business negotiation, Chou has a right to claim for compensation from BTT. It is clear that BTT intended to become a business partner. On the other hand, Chou cloud has benefited from the same (Fisher & Greenwood, 2011). The shortcomings of this contract led to the breaching of the business agreements. The result of this discontinuity was a significant loss to Chou who had played his role well...
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