Theory Practice

In: Other Topics

Submitted By magicmaker
Words 252
Pages 2
Chapter Six, pg. 155
The parties had a contract originally for 90 days, when BTT paid Chou $25,000, in exchange for exclusive negotiation rights. Within that agreement, there was no distribution contract unless it was in writing. Secondly, the parties had an oral agreement 3 days prior to the 90-day negotiation time period. However, the stipulation clearly stated that the agreement was to be written for a distribution contract.
The facts that may weigh in favor of Chou are that before the 90 day period ended, they came to an oral agreement, which led to the initiation of a written contract. However, what might count against Chou is the fact that there were never signatures or a final written signed contract.
Yes, communicating by email is legal and a very important part of businesses today. According to the Uniform Electronic Transaction Act, electronic documents and signatures are fine. Because both parties agreed upon terms via email, the law could enforce the contract.
The statute of frauds does not play a role. BTT and Chou had a services contract, there were no goods sold. Additionally, the contract for distribution never was signed,
BTT definitely could not really avoid this contract, due to the fact there was communication and offers on their part. Chou possibly cold avoid contract since there was no signature on the terms.
Chou would have a great benefit should BTT decide to distribute out the game, Strat. BTT would benefit as they’d pass on the distribution…...

Similar Documents

Motivational Theory in Practice at Tesco.Doc

...Motivational theory in practice at Tesco A Tesco case study Introduction Tesco began in 1919 with one man, Jack Cohen, a market stallholder selling groceries in London. TESCO was formed out of a merger with T.E. Stockwell from whom he purchased tea for sale on the stall. The first store opened in 1929. Since then, Tesco has expanded across the world. It now has over 2,200 stores including hypermarkets and Tesco Express outlets to meet different customer needs. As a conglomerate Tesco also offers alternative goods and services such as insurance, banking and online shopping. With net profits of around £3.4 billion Tesco has become the largest British retailer and one of the world's leading retail outlets on three continents. Tesco's growth has resulted in a worldwide workforce of over 468,000 employees. To support its growth, Tesco needs staff that are motivated, flexible and well-trained and who recognise customer needs. In turn, Tesco's employees are supported by the company in their various roles and at different levels - from customer assistants in stores to department managers; from warehouse employees to office and logistics staff. Tesco recognises that employee motivation is important for the continued growth of the company. This case study looks at how Tesco motivates its employees by increasing their knowledge, skills and job satisfaction through training and development and providing relevant and timely reward and recognition. What is......

Words: 1369 - Pages: 6

Theory to Practice

...Theory to Practice LAW/421 October 13, 2012 Ramon E. Ortiz-Velez Theory to Practice A contract is, “a promise or a set of promises enforceable by law,” (Melvin, 2011, p. 126). An agreement may result in a binding contract whether it is an oral or written agreement between parties (Melvin, 2011, p. 126). Big Time Toymaker (BTT), a toy company, was interested in a new strategy game invented by Chou. BTT entered into an agreement with Chou for exclusive rights to his inventory for a 90-day period at the cost of $25,000 (Melvin, 2011, p. 155). Contract BTT and Chou made an exclusive negotiation agreement for a 90-day period. This agreement had stipulations that a contract had to be in writing within this period. Before the expiration of this period, the parties reached an oral agreement in a meeting followed by an e-mail from BTT to Chou repeating their oral agreement on paper. This electronic document reiterated the key terms of what was agreed upon in the meeting between the parties (Melvin, 2011, p. 155). With areas agreed upon, the parties should be considered under contract. Positive and Negative Facts of Agreement There are several areas in this simulation that show positive and negative facts for Chou in terms of the intent of contract. The facts that weigh in favor of Chou: * meeting that was concluded with an oral agreement * follow-up e-mail from BTT with the key terms that were agreed upon * fax requesting a draft for the contract ...

Words: 986 - Pages: 4

Philosophical Theories and Practices

...Philosophical Theories and Practices Katrina D. Braggs Argosy University Abstract In this exercise, the writer was asked to explore the philosophical theories and practices of four of her colleagues. She will select and define Realism and Perennialism and explain how each teacher demonstrates their beliefs in these theories and how they apply them in their teaching. Her purpose will be to show how these modern day educators skillfully use the historical teachings and methods to instill a progressive education in their students. She will discuss two colleagues per theory and offer a comparison and differentiation in their methods. Keywords: realism, Perennialism Philosophical Theories and Practices The writer selected colleagues one and two based upon the theory of Realism in education. According to Pulliam and Van Patten, realists believe division between objects and form does not exist and humans know reality through examination of objects and through reason. Colleague I is a fourth grade teacher whose classroom consists of a mixture of average and below average students from mostly low-income families. Due to these demographics, she finds it imperative to use experiences familiar to the students to effectively convey the subject matter at hand. She presents all objectives in a simple and concrete manner prior to instruction for learner attainment before moving on to that which is more complex and abstract. The materials are highly precise and there is no......

Words: 772 - Pages: 4

Theory in Practice

...Theory in Practice This is a case of a 34-year old woman called June who is suffering from severe anorexia. She agrees to be placed on a feeding tube in order to save her life. On the evening before the tube is placed, June becomes disoriented and physical and totally refuses to have the feeding tube placed. The ethical dilemma sets in when the parents insist that the tube must be inserted despite her refusal, while the ex-husband wishes to uphold June’s final decision which most certainly will lead to her demise. The hospital administrators seek legal counsel in order to save the situation. This case though a sad one, presents with it several repercussions. This paper will explain the various implications that June’s case presents in the contemporary world and the various paths used to derive the elusive “right” decisions on the way forward. The patients’ bill of rights is a document that was developed by the American Hospital Association in order to improve the relationship between the patient, the medical staff and employees in the provision of health care. It enumerates several rights that a patient is entitled to before, during and after getting treatment. While this document is not law; it is very important in ensuring that all activities towards a patient’s health are carried out with consideration for their values and dignity (Maryland Hospital, 2011). The patient’s bill of right gives June several privileges as a patient concerning her treatment. First, she...

Words: 2664 - Pages: 11

Theory & Practice of Corporate Finance

...financial manager 9 4.2. Becoming a better professional 9 4.3. Practicing suggestions in the article 9 4.4. Issues listed by the authors 10 References 13 I. Article Summary 1.1. Article Title: The theory and practice of corporate finance: Evidence from the field 1.2. Authors: John R. Graham and Campbell R. Harvey 1.3. Publication: the article is published in the Journal of Financial Economics, Volume 60, Issue 2, Pages 187-243, dated 31/05/2001. The publisher is North-Holland. 1.4. Reviewer: Group 8 members 1. 1.5. Purpose of the Article The article reports the result of a comprehensive survey on the practice of corporate finance conducted in 1999 G.C by the above mentioned two authors in the USA. Unlike previous similar studies in theory and practice of corporate finance, the article address a broader scope in the field of corporate finance including capital budgeting, cost of capital and capital structure, which according to the authors allows “linking responses of survey participants across areas”. Selecting a large sample of cross-section firms with approximate population size of 4,440, the authors claim to have solicited the response of 392 chief financial officers and to have analysed how these firms practically apply the text book recommendations and theories in corporate financial management. Moreover, the authors have analysed the responses of the respondents conditional on firm characteristics such as firm size, P/E ratio, leverage, credit rating......

Words: 3531 - Pages: 15

Theory to Practice

...15 Compensatory Damages Compensatory damages cover a broad spectrum of losses for recovery of actual damages suffered by the non-breaching party. These damages are an attempt to put the non-breaching party in the same position she would have been in if the other party had performed as agreed. This includes such sums as out-of-pocket damages and even potential profits that would have been earned if performance had occurred. For example, BigCo. hires LowPrice to prepare BigCo.’s tax returns and financial statements in time for BigCo.’s shareholders meeting on March 1 for a fee of $5,000. On February 15, the principal of LowPrice notifiesBigCo. that she cannot prepare the returns because she decided to switch careers and shut down the tax practice. BigCo. must then hire HighPrice to prepare the documents. Because of the short time line, HighPrice charged a fee of $12,000. BigCo. is entitled to recover the difference between the price actually paid ($12,000) and the price that would have been paid if LowPrice had performed ($5,000) as originally agreed. Thus, BigCo. is entitled to $7,000 as compensatory damages (plus any additional out-of-pocket costs related to locating and hiring a new accounting firm). Consequential Damages Consequential damages compensate the non-breaching party for foreseeable indirect losses not covered by compensatory damages. An aggrieved party is entitled to recover consequential damages if the damages are caused by unique and foreseeable circumstances......

Words: 2114 - Pages: 9

The Theory and Practice of Corporate Finance:

...Journal of Financial Economics 61 (2001) 000-000 The theory and practice of corporate finance: Evidence from the field John R. Grahama, Campbell R. Harveya,b,* aFuqua School of Business, Duke University, Durham, NC 27708, USA bNational Bureau of Economic Research, Cambridge, MA 02912, USA (Received 2 August 1999; final version received 10 December 1999) Abstract We survey 392 CFOs about the cost of capital, capital budgeting, and capital structure. Large firms rely heavily on present value techniques and the capital asset pricing model, while small firms are relatively likely to use the payback criterion. A surprising number of firms use firm risk rather than project risk in evaluating new investments. Firms are concerned about financial flexibility and credit ratings when issuing debt, and earnings per share dilution and recent stock price appreciation when issuing equity. We find some support for the pecking-order and trade-off capital structure hypotheses but little evidence that executives are concerned about asset substitution, asymmetric information, transactions costs, free cash flows, or personal taxes. JEL classification: G31, G32, G12 Key words: Capital structure; Cost of capital; Cost of equity; Capital budgeting; Discount rates; Project valuation; Survey *Corresponding author, Tel: 919 660 7768, Fax: 919 660 7971 E-mail address: ......

Words: 18591 - Pages: 75

Theory to Practice Literature Review

...THEORY TO PRACTICE LITERATURE REVIEW A PAPER SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE NURS 5013 – THEORETICAL FOUNDATIONS IN THE GRADUATE SCHOOL OF THE PRAIRIE VIEW A&M UNIVERSITY COLLEGE OF NURSING BY HARSHAL THOMAS, BSN, RN HOUSTON, TEXAS March 3, 2014 DeMonica Junious, PhD, RN, CNE INTRODUCTION This paper is a systematic presentation of nursing theories based on literature review. The purpose of this paper is to describe how nursing theories are applied in administrative practice. It will help to generate further nursing knowledge. Nursing theory can help patients, managers and other healthcare professionals to recognize the unique contribution that nurses make to the healthcare service. The First stage is introducing the paper. The Second stage is the body of paper which consists of six different articles from pages three to eight. Each article starts with brief description about the study following with concise review of the selected theory. About who formulated the theory and also describes the components of the theory. The middle part of the article states the reasons for using the specific theory by the author. Also describing how the theory was used and illustrates the results of the study. The article ends with explaining how that particular theory can be used in my own nursing administrative practice. The Last stage is summarizing the paper and listing the references in alphabetical......

Words: 3541 - Pages: 15

Applying Theory to Practice

...Applying Theory to Practice Over the past decade, youth, and individuals under the age of 18 antisocial Mary Jo Buttafuoco had no idea that on answer and violence behavior has become a grave global concern and a top political policy issue being sensationalized by media coverage of rare but devastatingly murder crimes being committed by young individuals at school, homes and other social places. The increase of media reports of notorious murder by young people may skew the public perception of its actual prevalence. In our case study, we look at Mary Jo Buttafuoco who is murdered by a teenage girl at her home on Adam Road West Long Island, N.Y., on May 19, 1992. Moral Development Theory explanations of delinquency in which propositions identify certain concepts and describe and how they are related to delinquent behavior, this theoretically predicts relationships that may be tested through research. For instance, one simple proposition of differential association theory is that attitudes favoring delinquency may be learned in the context of inmate personal groups, in our case, the girl suggests to Mary Jo that they should have a talk about her husband, where she notices a car with a young man of which the girl claims to be her boyfriend. Mary Jo becomes upset and orders the girl to leave. The girl shoots her in the head without a second thought (Regoli, Hewitt, & DeLisi, 2014). The predicted relationship portrayed here is that youths develop attitudes, in this case we......

Words: 874 - Pages: 4

Motivational Theory in Practice at Tesco

...Motivational theory in practice at Tesco Curriculum Topics • Motivation • Taylor’s theory • Mayo effect • Maslow and Herzberg Introduction Tesco began in 1919 with one man, Jack Cohen, a market stallholder selling groceries in London. TESCO was formed out of a merger with T.E. Stockwell from whom he purchased tea for sale on the stall. The first store opened in 1929. Since then, Tesco has expanded across the world. It now has over 2,200 stores including hypermarkets and Tesco Express outlets to meet different customer needs. As a conglomerate Tesco also offers alternative goods and services such as insurance, banking and online shopping. With net profits of around £3.4 billion Tesco has become the largest British retailer and one of the world’s leading retail outlets on three continents. Tesco’s growth has resulted in a worldwide workforce of over 468,000 employees. To support its growth, Tesco needs staff that are motivated, flexible and well-trained and who recognise customer needs. In turn, Tesco’s employees are supported by the company in their various roles and at different levels - from customer assistants in stores to department managers; from warehouse employees to office and logistics staff. Tesco recognises that employee motivation is important for the continued growth of the company. This case study looks at how Tesco motivates its employees by increasing their knowledge, skills and job satisfaction through training and development and providing relevant......

Words: 2522 - Pages: 11

Management Theory and Practice

...Licensed to: iChapters User Licensed to: iChapters User Management theory and practice, sixth edition Copyright © Gerald Cole 2004 The Thomson logo is a registered trademark used herein under licence. For more information, contact Thomson Learning, High Holborn House; 50-51 Bedford Row, London WC1R 4LR or visit us on the World Wide Web at: http://www.thomsonlearning.co.uk ___________________________________________________________________ All rights reserved by Thomson Learning 2004. The text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, storage in an information retrieval system, or otherwise, without prior permission of the publisher. While the publisher has taken all reasonable care in the preparation of this book the publisher makes no representation, express or implied, with regard to the accuracy of the information contained in this book and cannot accept any legal responsibility or liability for any errors or omissions from the book or the consequences thereof. Products and services that are referred to in this book may be either trademarks and/or registered trademarks of their respective owners. The publisher and author/s make no claim to these trademarks. British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library ___________________________________________________________________......

Words: 1987 - Pages: 8

Leadership: Theory and Practice

...Norwegian School of Leadership and Theology Life Essay Course Name: VEL1010E Value-based Leadership in Organizations Name of Student: Prakash Lamichhane Title of Essay: Leadership Theory and Practice Number of Words: 1728 Date:26/09/14 Leadership is seen in every organizational structure. There is no universal definition of leadership. Many have defined the term in various ways. Leadership in simple terms means leading people towards goal but it is a understanding in a nutshell. What is leadership? Leadership is not merely having a vision (Maxwell,2001), also is a process and having influences in a group towards common goals (Northhouse,2013). Leadership is a influence upon relation within followers and leaders to seek changes which takes to common goal (Rost 1993). Weathersby (1999, p.5) suggests: “Leadership focuses on the creation of a common vision. It means motivating people to contribute to the vision and encouraging them to align their self-interest with that of the organization. It means persuading, not commanding”. Hence leadership can be a process, an influence which works in a group with vision to achieve relevant goals. Purpose of the essay: This paper is written to compare and contrast situational, transformational and servant leadership theory and practices and the area of their strength and weakness. There are several leadership models or approaches that have emerged with the passage of time. Transactional, situational, transformational and servant......

Words: 1747 - Pages: 7

Theory of Practice

...Theory to Practice David Dwight Sandoval Contemporary Law/421 January 15, 2015 Mrs. Monica Arvelo/University of Phoenix Theory to Practice Below are questions 1 through 6 based on the scenario “Theory to Practice”: Question 1: At what point if ever, did the parties have a contract? Answer: An contract/agreement was started with Chou. BTT paid him $25,000 in exchange for negotiation rights for 90-days. Before the agreement was drafted by Chou, a BTT manager sent Chou an e-mail repeating the key terms of the distribution agreement including price, time frames, and obligations of both parties. Chou believed that the email was meant to replace the earlier notion (draft contract). This contract was in place when it was sent from BTT to Chou. Terms have been agreed upon …this is an enforceable contract between both of the parties. Question 2: What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? Answer: One fact that may weigh in favor of Chou, is the fact that there was a monetary agreement (BTT paid Chou $25,000/exchange for exclusive negotiation rights) between BTT and Chou. Since an email was used to send for the forms of communication between the parties, the Uniform Electronic Transactions Act (UETA) possibly could be used for legal implications in favor of Chou. One fact that may way against Chou, is the fact that a written agreement was not established before the 90-day period. The exclusive......

Words: 554 - Pages: 3

Theory in Practice

...     PGCE     Educational  Psychology:  Theory  in  Practice   Rhodes  University,  2011   By  Nicole  Messias     With  reference  to  any  aspect  of  Childhood  Development  and  Educational  Psychology,   critically  discuss  what  you  think  will  be  the  major  challenges  to  you  as  a  teacher  in  the   South  African  context  and  reflect  on  your  own  development  as  a  learner  in  relation  to   the  theory;   • Developmental  Stages     – Piaget   – Erikson     – Kohlberg       The way in which teachers are educated and supported to meet the challenges of the 21st century has huge influence on their ability to manage their classroom dynamics. Thus teachers need to engage with resources that enable them to provide substantial attention to learners, learning, and human development. Knowledge of the domain of educational psychology is a central resource to the teaching enterprise and to the preparation of teachers. Teacher who have knowledge of the psychology of learning, development, and instruction are better able to facilitate the learning and development of each individual student as they possess a broad and deep understanding of children, the subjects they teach, the nature of learning and schooling, and the world around them. As a student teacher specializing in the foundation phase of learning I have decided...

Words: 5271 - Pages: 22

The Development of Conservation in Theory and Practice

...Development of Conservation in Theory and Practice In considering the issue of wildlife conservation, a link to development rises quickly to the surface. After all, the animals seemingly considered the most prized by the collective popular consciousness, such as primates, occur predominantly in tropical areas of the world considered by most to be “underdeveloped.” According to the United Nations Population Division of the Department of Economic and Social Affairs, the rate of growth in developed countries, mostly those located in Europe and America, between 2005 and 2050 is expected to remain relatively minimal, while the population of the developing world is projected to substantially increase, from 5.3 billion to 7.8 billion, over the same period of time (United Nations Population Division 2005, vi). This includes a more drastic increase in the world’s 50 least developed country (mostly located in Africa and Asia), where the number of inhabitants is projected to swell from 0.8 billion to 1.7 billion over the same period. As such, in putting together a theory for development more broadly and conservation more specifically, it is crucial that the link between societal growth and natural resource and wildlife degradation be explored. In the following discussion, I hope to accomplish a few things. First, I will consider development theory broadly, looking at its evolution through time and some popular contemporary critiques. Though development theory (as it stands......

Words: 3948 - Pages: 16