Discuss his likelihood of success

Reference no: EM133638257

Question: Temy is a celebrity in his own right in his hometown of Paris-a celebrity chef, that is. Three years ago, he was courted to join the restaurant Pisto as a part-owner and chef emeritus. The restaurant's owner, Alfred invited Temy to come by the restaurant for dinner and drinks. After a large meal, and many alcoholic drinks, Alfred promised Temy a salary of $100,000 per year, a 25 percent stake in the business, and 50 percent of the restaurant's profits. Temy was apprehensive about the offer and doubted Pisto's chances of success. Alfred suggested Temy stay for dessert, which was served with yet another bottle of wine. Temy does not remember anything from that night after dessert was served, but woke up the next afternoon with a throbbing headache and a bar napkin stating the following:

"Temy the Chef does hereby accept the offer of Alfred and Pisto Restaurant to become a 25% owner and chef emeritus of Pisto Restaurant. In exchange for Temy's expert advice and recommendations, along with the use of Temy's likeness and celebrity status, Alfred and Pisto Restaurant agree to pay salary of $100,000 per year, a 25% stake in the business, and 50% of the restaurant's profits. Signed this 1st day of November, 2020, Temy the Chef."

Temy didn't know what to do, so he showed up to work. For the last three years, Temy has run the kitchen, the front of house, and performed most of the day-to-day managerial functions at Pisto. The only aspect of the business that Temy has no control over is the money.

Temy received his salary, but he found that Alfred had in effect diluted Pisto's profits by expensing out Temy's salary and also paying himself a salary of $425,000 a year, even though he does not work at the restaurant. Temy never received his equity stake in the business. Temy is considering suing for breach of contract and has contacted you for advice.

Utilizing the concepts we have covered in Chapters 13, 14, 15, 16, 17, 18, & 20, analyze Temy's situation, discuss his likelihood of success, and what remedies may be available to him. Your answer should be well thought out and thorough.

Reference no: EM133638257

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