Reference no: EM131394052
Assignment
Determine whether certain contract remedies exist in the following scenario:
Forrest Gump is a famous table tennis player. He enters into a contract with Alabama Sports Marketing to advertise the latest ping pong game and to serve as the computer-generated imagery (CGI) model for the development of the video game. Gump is perfect for this job as there are not many world famous ping pong players who have a following similar to his. The game is set to start development on March 1 and will be completed on July 31, so the game can be released at Thanksgiving-a major video game release period. Both parties have agreed and stipulated to the fact that the game must be completed on time to maximize the profits.
Gump will make 20% of the net proceeds from the sales of the game. In addition, the contract has a liquidated damages clause that indicates that if Gump does not participate in the marketing, does not serve as the CGI model, or breaches the contract in any way, he will owe Alabama Sports Marketing $2 million.
Based on this fact pattern and the information presented in this unit, answer the following questions in a minimum of 250 words each.
1. One day, Gump gets into an argument with the developer. Gump refuses to perform any work until the problem is solved. In this situation, can Alabama Sports Marketing seek specific performance of the contract? If yes, why? If no, why not?
2. How would the court determine whether the liquidated damages clause is valid? Is this clause valid? Explain your answers.
Cite any direct quotes or paraphrased material from outside sources. Use APA format.
|
What is the portfolio’s expected return
: Rebecca invested $9,000 in a stock that has an expected return equal to 18 percent and $21,000 in a stock with an 8 percent expected return. What is the portfolio's expected return?
|
|
What is bbb''s economic value added (eva) for current year
: BBB's marginal tax rate is 40 percent, its interest expense for the year was $1.5 million, it has $8 million of invested capital, and its average cost of funds was 10 percent. What is BBB's economic value added (EVA) for the current year?
|
|
Identify the main issues with copyright and trademark
: explain the reasons why this decision was made. Identify the main issues with copyright and trademark in the article, and explain how these issues were either upheld or overturned.
|
|
The following is true concerning dual relationships
: According to professional codes of ethics, sexual relationships between client and counselor are considered to be ethical under which of the following circumstances?Bonnie became sexually involved with her therapist soon after therapy began. This ..
|
|
Determine whether the liquidated damages clause is valid
: One day, Gump gets into an argument with the developer. How would the court determine whether the liquidated damages clause is valid? Is this clause valid? Explain your answers.
|
|
What was rjs’s economic value added (eva) this year
: RJS generated $65,000 net income this year. The firm's financial statements also show that its interest expense was $40,000, its marginal tax rate was 35 percent, and its invested capital was $800,000. If its average cost of funds is 12 percent, w..
|
|
What should be its stock price under normal circumstances
: Georgetown Motorcars' (GM) common stock normally sells for 19 times its earnings; that is, its P/E ratio equals 19. If GM's earnings per share are $3.70, what should be its stock price under normal circumstances?
|
|
How most employees are likely to react to the change
: Suggest how most employees are likely to react to the change. Indicate one way in which you would minimize the impact of this reaction to the change management process. Provide support for your suggestion.
|
|
What is the current value of the company’s stock
: If investors require a 20 percent return to purchase Sparkle's stock, what is the current value of the company's stock?
|