Lady and the Tramp Student Coaching Slides

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Lady and the TrampStudent Coaching Slides
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Contracts are Legally Enforceable Agreements

• Contracts are agreements enforced by courts
  consistent with the parties intention at the
  time they entered the agreement
• Courts seek to protect the reasonable
  expectations of the parties The court will
  interpret based on what the parties agreed to,
  not what the court thinks is fair or best

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Contracts Missing orAmbiguous terms

• If contractual terms are missing or ambiguous, a
  court will supply missing terms or clarify
  ambiguities to the extent that the court can
  determine what the parties intended at the time
  they entered the agreement.
• However, they do not substitute terms based what
  the court feels is right or fair.

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Contracts Custom Usage

• In trying to interpret the parties intent on
  entering a contract, courts sometimes look to
  terms that may have been implied but not
  specified in an agreement.
• In some industries, certain terms are routinely
  used and may be assumed to exist in contracts,
  even if it is not specifically spelled out.
• Courts look to an industrys custom and usage
  in trying to determine whether an ambiguous or
  missing contractual term was implied through
  standard industry practice.

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Invasion of Privacy

• There are four different types of invasion of
  privacy
• Intrusion on privacy or solitude
• Public disclosure of private information
• Placing someone in a false light (i.e. giving a
  wrong and damaging impression about someone)
• Commercial appropriate of ones name or likeness
• Which of these four might apply to this case?

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Invasion of Privacy

• People have the right to commercialize their name
  or image, including their likeness (for example,
  a photo of a model) or their voice (for example,
  an actor doing the voice of a cartoon character.)
  
• People may give their consent to having their
  name or image commercialized, which occurs, for
  example, when an athlete is paid to sponsor a
  product.

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Gross Margin

• Gross Margin or Gross Profit is sales revenue
  minus cost of goods sold.
• This definition is for a retailer or
  manufacturer, not a service company.
• Footnotes under the project income statement
  explain what is included in each account.
• Footnotes to the financial statements provide
  readers information that help them better
  understand the accounting rules, assumptions and
  items in the statements.

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Sales Revenue

• Sales revenue represents the amount that a
  company records for sales of products or
  services.

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Contribution to Overhead

• Contribution to overhead represents the amount
  that a product or project generates after it
  covers all of its direct costs.
• It represents the amount that would be lost in
  profit if the product was discontinued, assuming
  that overhead is not affected by the product.

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Direct Cost

• A direct cost is an item that can be traced
  directly to a product. It is a cost that would
  be avoided if no production and sales of this
  product took place.

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Profit before Tax

• Profit before tax is the amount that is left
  after all expenses are subtracted from revenue,
  including an allocation of Buena Vistas cost of
  running its operations.
• Taxes are not allocated to products/projects in
  this company.

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Future Value

• Future value represents the amount that will
  accumulate at a future time given an investment
  amount and an interest rate.
• Future value calculations that can be done in
  excel or with a hand held calculator. The basic
  formula for the future amount is
• amount (1interest rate per period)number of
  periods

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