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The Case
In this case, Oracle Corporation unveiled their updated version of a type of software, called Oracle9i. The software was developed for application service providers (ASP's) to help with the heavy computing these companies use. During the unveiling the Chairman of Oracle Corporation, Larry Ellison, showed his confidence in the enhancements by offering one million dollars to any Microsoft or IBM database customer whos performance did not triple by using the new version. The question posed is if this offer by the chairman gives any ASP present the right to claim one million dollars if their performance does not triple after using the enhanced version of Oracle9i.
Statement of Issues
There are several issues involved in this case. The general issue is one of contracts. The major question here is whether or not Larry Ellison is legally obligated to pay one million dollars to a customer if they can show that their performance did not triple by using the software. To figure this out it needs to be decided first if there was a legally binding contract or not in the situation. If not, next it needs to be decided whether or not there was a case of Promissory Estoppel By analyzing these issues it will become clear whether or not an ASP has a cause of action against Oracle.
Summary of Law
A general contract is an agreement between two or more parties to do or not do something specified in the contract. More specifically, an oral contract is a contract that is spoken, and is just as enforceable as a written one as long as it involves an offer and an acceptan ...