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Walgreens files lawsuit against video game company

Retailers in Texas and around the country often order products on what is known as a guaranteed sale basis. This type of agreement allows stores to return unsold goods and obtain a refund. The pharmacy chain Walgreens has filed a lawsuit that accuses a video game company of reneging on a guaranteed sale agreement. The Illinois-based retailer is seeking about $1.62 billion for 66,500 unsold video games and microconsoles.

Walgreens claims in its breach of contract lawsuit that AtGames offered to take back unsold games for a refund and agreed to pay fees and shipping costs. The litigation does not specify the games or products involved, but it does state that Walgreens paid between $15 and $38 for them. Walgreens says that allowing AtGames to avoid its contractual obligations would give the company the opportunity to sell the same items twice and violate the basic principles of equity and justice. AtGames manufactures plug-and-play video games and microconsoles that can be used with game systems like the Sega Saturn and Atari 2600.

The different ways to resolve a contract dispute

There is a chance that a party won't be able or willing to live up to the terms of a contract it agreed to. If an entity fails to live up to its end of an agreement, it is said to have breached the contract. After a breach of a contract that is governed by Texas law, the breached party may demand that the other side abide by its obligations.

A court could also step in and order the offending party to fulfill its contractual duties. However, it may also award financial compensation or other forms of relief if this does not happen. Compensatory damages seek to make the the victim of a contract breach whole while liquidated damages are typically defined in the contract itself. Punitive damages could be awarded if a party took actions that were especially egregious.

How to tackle a dispute with your contractor

You put a lot of time into comparing contractors, as you want to choose the perfect person for your project. But even if you do your homework up front, you could still find yourself in a serious dispute at some point.

Disputes with contractors are never easy to navigate, as both parties are likely to have their own version of what's gone wrong. Fortunately, there is more than one way to tackle a dispute with your contractor. Here are some ideas to consider:

  • Have an honest conversation: This is often the simplest and most cost-effective way to tackle a dispute. Share your concerns with the contractor, hear them out and do your best to reach a resolution. Sometimes this is all it takes to get back on track.
  • Review your contract together: Doing so will give both of you a clear idea of what's expected in regard to project scope, payments and other key details. It's a good idea to take on this step as soon as a dispute arises.
  • Consider mediation: You don't necessarily have to file a lawsuit right away. You may be able to go through formal mediation to find a resolution that works for both parties. In many cases, you are required to go through mediation or arbitration before taking your claim to court.

Distributing Jeffrey Epstein's large estate

Texas residents might be familiar with Jefferey Epstein after his alleged connections to sex trafficking made national news. The financier's suicide Aug. 10 is not the end of the story. The 66-year-old's estate may be worth more than $577 million, and many people are interested in what the next steps are when it comes to distributing his estate.

The legitimacy of Epstein's will could be called into question as it was created two days before his death. If a will is created quickly during stressful circumstances, this could make it easier for a mistake to occur.

Breach of contract lawsuit over "Titansgrave" series

Contract issues can be central to entertainment media beloved by many Texas fans. For example, a contract dispute has broken out over well-known actor Wil Wheaton's work on "Titansgrave: The Ashes of Valkana," a series produced by the company Geek & Sundry. Wheaton is perhaps best-known for his role in "Star Trek: The Next Generation." However, Wheaton is now alleging that he did not receive all of his required payments for his work on the "Titansgrave" series and has filed a lawsuit against the producers of the series, now owned by Legendary.

In 2015, the company hired Wheaton to write, create, host and produce the series. He was offered $50,000 for his work in addition to 50% of the net profit taken in from "Titansgrave." The company retained exclusive rights to distribute and promote the show, but the contract also obliged them to consult with Wheaton in the process of doing so. According to Wheaton's lawsuit, the company breached their contract by making licensing agreements with Pluto TV, Hulu and Sinclair Broadcasting without notifying Wheaton or discussing the decision with him. Wheaton alleges that these contracts may have produced significant undisclosed income that was not passed on.

Succeeding in mergers and acquisitions

The primary job of a Texas company's CEO is to apply the correct values and visions to company strategies. Mergers and acquisitions are tactics rather than strategy, and the failure of executives to see that they must must fit the overall strategy leads to transactions that are unsuccessful. According to a study by KPMG, 83% of M&A deals failed to increase returns to shareholders. Entrepreneurs and company leaders can avoid the typical pitfalls by owning the values and the vision of a merger.

Owning the values means recognizing that company values are at the heart of any merger deal. Bringing two companies together requires that they share culture, or that their cultures can be successfully melded. At bottom, the path to cultural merger is about strategy. The first step is to target M&A deals that have the potential to enhance already-established strategic decisions. The second step is to target companies that match up with regard to company culture as well.

Aretha Franklin family still fighting over estate

Some Texas fans of singer Aretha Franklin may be aware that her family has been fighting over her estate. Franklin had four sons, but her niece has been acting as executor.

It was initially believed that Franklin had died without a will. However, her niece reportedly found three handwritten wills in the home in May. One was created in 2014 and the other two in 2010. They have been filed in a probate court where a judge will determine whether they are legal. One of Franklin's sons says he was named as executor in the 2014 will, and one brother is supporting him in this claim. Reportedly, the names of another brother and the niece were crossed out although it is unclear who did this.

About reverse mergers

Texas residents who own a private company and want to make it public should be prepared for a complicated process. In addition to getting regulatory approvals, an investment bank has to be hired in order to underwrite and distribute shares, a lengthy due diligence process has to be conducted and there can be an extensive waiting period for optimal market conditions to launch the company into the public sector.

However, a reverse merger can be used to make a company public faster. Also known as a reverse takeover, a reverse merger can be beneficial for some private companies that take this avenue. It is important that business owners and investors understand how reverse mergers work as the practice can be a popular tool for scammers and fraudsters.

Consider these points when choosing a business partner

If you decide to start a business, you may want to bring a partner into the fold. There are many benefits of a partnership, including additional experience and industry knowledge.

However, before you formally create a partnership, it's important to carefully consider if the person is a good fit. Here are some points of consideration that will help you choose the right business partner:

  • Trust: Do you trust the person to do the right thing, every time? If the answer is yes, you can feel confident moving forward. However, if you have any reason to believe they're dishonest, it could come back to harm you in the future.
  • Try it out: Rather than jump in full steam ahead, work closely with the person for several weeks or longer. This gives you the opportunity to test the relationship, learn how they work and understand their strengths and weaknesses.
  • Responsibilities: Both you and your partner should have a clear understanding of your responsibilities, as this helps prevent disagreements in the future. Outline these responsibilities in your partner contract.
  • Finances: Will one or both of you manage the company's finances? Will you both have access to the business bank account? What's your plan for raising funds? Will you both personally invest in the business? These types of questions are critical to answer, as money has the potential to cause a divide in your business.
  • How to handle disagreements: It's bound to happen. There will come a time when you and your partner don't see eye to eye. It's best to plan for this in advance, such as by implementing a system for handling disagreements. You hope you don't run into this issue often, but preparing in advance can save you time, money and hassles in the future.

Breach of contract lawsuit filed against Harvey Weinstein

You have probably heard about the sexual assault and harassment accusations from dozens of women against film producer Harvey Weinstein. He is now facing accusations that he reneged on a payment of $450,000 promised to a former employee.

The employee, Frank Gil, was the head of human resources at The Weinstein Company. According to Gil, Weinstein told Gil that he would pay him if he could provide the identity of the people who leaked internal documents to "The New York Times" about the allegations of assault and harassment. Allegedly, Weinstein made the request in October 2017, one day after the story appeared. Gil says he identified the company president, David Glasser, and the company chairman, Bob Weinstein, as the people responsible for the leak. Gil also said that Glasser had taken illicit payments. He says that Glasser and Bob Weinstein then fired him as an act of retaliation.

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