Topic 1: The Letter Offer?
The Core Corporation is in negotiations with the ZlowGlow Corporation regarding a licensing agreement. The Core Corporation sent the following letter to the ZlowGlow Corporation
Dear ZlowGlow Corporation:
As per our conversation, enclosed please find five draft copies of our proposed licensing agreement. We believe this agreement fully reflects our mutual understanding. Please return four signed copies of the agreement and keep one for your records.
Sincerely,
The Core Corporation
Please respond to the following questions and post responses to your classmates' posts.
- Is the letter an offer or merely a formality, memorializing the oral contract?
- Have the parties come to an oral agreement?
- Is there a binding contract already?