You be the investigator….Was there a bindingagreement between Quantaand LG?What is a binding contract?qqqThough the agreement was “wellpublicized” is it binding?Does it make the contract legal?Is this a valid defense?What is a contract, anyway?Is it:•••••••Length?Content?Value?Period of time?The name of thecompanies?The contents?The font?The Contract is a BindingAgreement•••A contract establishes whatwill be done and the rulesthat will be followedbetween the parties.A contract is a promise.A contract can be verbal orwritten.••A contract establishes whowill do what, how they willdo it, and how much theyget paid for doing it.Without contracts,business would bedifficult … Or impossible.LegalThere are four to six elements(depending on the perspective)••objecAgreement (offer andacceptance)Consideration (some type of pay)Legal Objective andCompetence•It must be legal. It is notlegal to contract to dosomething illegal.•The parties must belegally competent. None ofthe individuals here would beable to sign a contract. Thealcoholic is likely consideredincompetent to manage his ownaffairs. The judge says BrittneySpears cannot manage her ownaffairs. The girl with the dog istoo young to sign a contract. Inthe eyes of the law, she is an“infant”.How does this apply toQuanta Computer Inc.v.LG Electronics?FIRSTPatentExhaustionSecondContractLawWHEW.UpdatesReferences••••Farnsworth, A. (2004) Contracts,fourth edition. New York: AspenPublishersHershovitz, S. (2006).Accountability and PoliticalAuthority. Minn. L. Rev, 1003,1012.Hungar, T. (2009) Observationsregarding the Supreme Court’sdecision in Quanta Computer,Inc. v. LG Electronics, Inc. Paperdelivered to AmericanIntellectual Property LawAssociation meeting, October 24,2008. IDEA 49(4) 517-548Lee, R. (1998) Mental illness andthe right to contract. Florida BarAssn Journal LXXII (11) 48;Revised February 12, 2012.•••Lee, T. (2008) Quanta casepreserved the distinction betweenpatent law and contract law.Freedom to Tinker, September29, 2008. Retrieved fromhttps://freedom-totinker.com/blog/tblee/quantacase-preserved-distinctionbetween-patent-law-andcontract-law/Quanta Computer Inc v. LGElectronics (2008) 128 S. Ct. 2109Static Control Components, Inc.v. Lexmark Int’l, Inc., 615 F.Supp. 2d 575, 585 (E.D. Ky. 2009)

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