Finance Research Question

Finance Research Question

The following are the questions to the answers for the different contracts made between the PowerPakt. and other dealers in the market. The questions will be able to develop an understanding about the fact that as an Attorney Tayne made several mistakes that took Power Pakt. into legal and financial crisis where they can also be taken to jail in case of bankruptcy. The answers of the legal questions are as following:

Assignment in legal terminology has similar meaning of contract or a legal agreement. In all the cases a contract is developed between the party and the parties for the transfer of rights from one party that is the assignor to the other party that is the assignee. The terms and conditions of the assignment provide the details of the other rights and credits on both the parties of the contract. It is not necessary that the assignment should be in the written form but the agreement should only ensure that the transfer of rights has been made. The only reason why a contractual relationship is established is only to make the sue condition active between the assignor and the assignee. The assignment of rights agreement is made in order to enjoy the benefits received from the sale or purchase of the other party. For example Party X makes a contract with Party B in order to sell the car to Party B. In case of the Lean the assignment of right is made between lean and the Attorney Tayne for enjoying the benefits as a partner in the company from the sale of the idea of Lean in the market. Although it is a crime to violate any agreement but it is mentioned in the agreement clauses that the assignor has the full rights to cancel or terminate the agreement at any time, he will just have to circulate the termination decision 5 days before officially cancelling the agreement.

The three forms of incapacity and the specific form that allowed Lean to disaffirm the agreement was due to the fact that he was the sole inventor of the product so all the profit showed be enjoyed by him, second he should have all the copyrights of the products and third if anyone copies his idea then he would not be able to make a legal claim due to entering the assignment of rights contract. He wanted to disaffirm the agreement so that the profits are shared according to the share in the company instead of enjoying the benefits transferred under the agreement made between the two parties.

Although lean can terminate the agreement but cannot refuse the fact that there was no agreement between the two parties that is lean and Attorney Tayne. As Attorney Tayne is the official partner of the company therefore lean cannot disaffirm the fact that he would have no share in the profits earned by the company because it is legally decided that the person investing or becoming a partner will ...