case analysis Determine whether certain contract remedies exist, business and finance homework help

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Case Analysis

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.

Tutor Answer

Alyssa_B
School: Purdue University

Attached.

Running Head: CASE ANALYSIS.

1

Case Analysis
Institutional Affiliation:
Date:

CASE ANALYSIS.

2

According to Kronman, (1978) a contract is a concord upon adequate deliberation to
carry out or not to carry out a precise act. The party on whom this contractual compulsion rests
ought not to fall short of discharging such compulsion. In case of his malfunction, the other party
will encompass a right litigate for performance of the contract which is simply referred to as
Specific Performance. In that case, basing on Alabama Sports Marketing case it is their right to
seek specific performance of the contract. This is for the reason that specific performance is
applicable when a contract is founded on unique property or service. Gump is the only person
who can c...

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