Today was a great day! Today we just had Contracts and it was a ton of fun! Professor Fineman split us up into groups where we discussed one of the hypothetical cases. The situation was between two companies over the fact that both parties were negotiating a licensing deal and both sides had agreed in principle to the terms that would be written in the contract. The parties also agreed to write a contract and give it to their presidents to sign. One of the parties had not signed the contract or communicated with the other party about why they hadn’t signed it. Now the offering party wants to get out of the contract because they got a better offer from a different buyer, so the president wanted to know if the company would be liable for anything.
My group spent some time discussing this and I believe I contributed a lot to the discussion. Actually, I know I did.