Post Here If You Got An IPT Check Today!!!!
- Thread starter Purdman
- Start date
...(crickets chirping)...
.................................................. ......................
The silence is deafening...
ruk
The silence is deafening...
ruk
Flex said:
Ok...I'm with you...I see it in my mind's eye ...the check hitting the carpet...can't tell yet if it is going to bounce like a damn superball
ruk
Should there be a forum section titled "International Pool Tour Scam"?
<<I think the website could be construed as a conract. The catch is that players would have had to print it out in case it changes.>>
Trust me, there is a "oral contract" which is just as enforceable as a written one so long as the terms of payment can be shown (which they obviously can be) and there has been substantial performance by both parties which can also be clearly shown. There is no court in America that would rule that there is no binding contract.
"An oral contract is a contract that terms of which have been agreed by spoken communication, in contrast to a written contract, where the contract is a written document. There may be written, or other physical evidence, of an oral contract -- for example where the parties write down what they have agreed -- but the contract itself is not a written one."
Trust me, there is a "oral contract" which is just as enforceable as a written one so long as the terms of payment can be shown (which they obviously can be) and there has been substantial performance by both parties which can also be clearly shown. There is no court in America that would rule that there is no binding contract.
"An oral contract is a contract that terms of which have been agreed by spoken communication, in contrast to a written contract, where the contract is a written document. There may be written, or other physical evidence, of an oral contract -- for example where the parties write down what they have agreed -- but the contract itself is not a written one."
Better late than never, it's time for some good PR for damage control.
av84fun said:
Yes, oral contracts MAY be legal and binding just as written contracts also MAY be legal and binding, but neither is always so. There are several "elements" to a legally binding contract (oral or written), one of the elements, which is subject to interpretation, is that there must be a "meeting of the minds": the parties must agree to the same things, in the same sense and at the same time. Those questions have had to be settled in courts of law for a very long time.
Even without seeing and hearing all the written and taped explanations of the IPT's so called "guarantees", I'd be willing to bet that KT's attorneys already have that one covered.
Besides, in the event of insolvency and bankruptcy, other than taxes most debts in excess of assets are voided. If this thing goes in that direction, unfortunately, creditors will probably collect nothing.
jimmyg said:
You are correct. Oral supercedes handwritten supercedes typed supercedes printed. I know.
That's great in legal theory, but in practicality, it's harder to prove that there was an oral agreement. If it's in writing and there is proper consideration and agreement of terms, then it is legally binding except in cases of legal capacity, duress or fraud etc...
You bring up an interesting point here. If KT made the players shareholders or partners in the tour...which the profit sharing would imply...then IF the tour goes bankrupt, not only would there be little for creditors, the players wouldn't be considered creditors and they would be at the end of the line of people who would be paid....because legally they would be party to the entity that is declaring bankruptcy.
Cheers,
RC
Talked to Chris Bartrams brother last night and he said that the check still had not come. Wonder how long this will last.
Well to add on to this IPT drama.. I live here locally where the US Open is held and I am good friends with the filipino pros. Players who are here that played in the IPT such as Sambajon, Gallego, Luat, Valle, Parica etc.. have complained and told me that none of them have got paid yet. If I am not mistaken.. it seems that they haven't been paid from any of the previous tournaments? Does anyone know if that is true? Anyway, thats all I know so far.
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