Legal Question in Business Law in Illinois
Five employees of American Electric Power (AEP) Service Corp. invented a new product. "In consideration of the sum of One Dollar (1.00), and of other good and valuable consideration paid to the undersigned Assignor," each employee signed an agreement giving AEP exclusive patent rights to the invention. Some of the employees sued, alleging that there was no contract because AEP never paid the one dollar. How do you think the court ruled? Explain your reasoning.
Asked on 2/24/12, 6:45 pm
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Explain your reasoning? Obviously, this is a homework assignment. For your next assignment, please review the terms of service for lawguru.com and advise whether or not you think it is appropriate to post homework questions. Explain your reasoning.
Answered on 2/27/12, 12:30 pm
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