Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

News

Farmer owes US$61,000 in contract dispute over use of a ‘thumbs-up’ emoji, judge says

Published

on

A Canadian farmer owes CA$82,000 ($61,442) for breach of contract after using a “thumbs-up” in a text

In March 2021, a case was brought before the King’s Bench for Saskatchewan involving South West Terminal, Ltd. (SWT), grain purchasers, and farmers Bob and Chris Achter.

The dispute arose from a text message sent by SWT to grain suppliers, expressing interest in purchasing flax for $17 per bushel with delivery scheduled for October, November, or December of that year.

After phone conversations with the Achters, SWT drafted a contract for Chris Achter to sell 86 metric tons of flax to SWT at the agreed price, with delivery expected in November.

The SWT representative signed the contract and sent a photo of it via cell phone to Chris Achter, accompanied by a message requesting confirmation.

In response, Achter allegedly replied with a “thumbs-up” emoji, as per the court documents. However, Achter failed to deliver the flax in November 2021, by which time the price of flax had risen to $41 per bushel.

The SWT representative claimed in court documents that he had previously executed at least four other contracts with Achter through text messages, with the only difference this time being the use of the “thumbs-up” emoji instead of other affirmative responses like “ok” or “yup.”

However, Achter disputed the significance of the emoji, stating that it merely confirmed receipt of the contract and did not imply agreement with its terms.

He asserted that he expected the complete contract, including the full terms and conditions, to be sent to him for review and signing through fax or email.

Achter’s counsel argued that accepting the “thumbs-up” emoji as a substitute for a signature could lead to interpretational challenges with various other emojis, potentially inundating the courts with similar cases.

Additionally, Achter claimed that he would never sign a contract without an Act of God clause, as stated in the court documents.

The judge acknowledged that it appeared the deal was at least verbally agreed upon but ruled in favour of SWT, stating that Achter owed them CA$82,000 ($61,442) plus interest and costs for failing to deliver the flax.

In summary, the court case involved a dispute over whether the use of a “thumbs-up” emoji constituted a valid acceptance of a contract.

The judge determined that the deal was verbally struck, and Achter was found liable for not delivering the flax as agreed upon.

He wrote, “I am satisfied on the balance of probabilities that Chris okayed or approved the contract just like he had done before except this time he used a emoji. In my opinion, when considering all of the circumstances that meant approval of the flax contract and not simply that he had received the contract and was going to think about it. In my view a reasonable bystander knowing all of the background would come to the objective understanding that the parties had reached consensus ad item – a meeting of the minds – just like they had done on numerous other occasions.”

Continue Reading

News

Rate cuts ahead? US stocks bounce as inflation cools

Published

on

Investor sentiment is improving as fresh data out of the US and Australia shifts expectations for central bank action.

Stronger-than-expected labour market figures in Australia have raised questions about whether the Reserve Bank will move ahead with a rate cut next week. While the RBA has signalled it is watching data closely, the resilience in employment may force a delay.

Meanwhile, in the US, softer inflation data has lifted hopes that the Federal Reserve could cut rates later this year. That news helped spark a sharp turnaround in US equities, with the so-called “sell America” trade now unwinding as buyers return to Wall Street.

Continue Reading

News

Trump’s $600B Middle East Deal: What It Means for Global Stability

Published

on

 

President Donald Trump’s four-day Middle East tour during his second term has sparked global attention, locking in a monumental $600 billion investment from Saudi Arabia. From AI to defence, space to energy—this economic pact is reshaping U.S. foreign policy.

In an unprecedented move, Trump also lifted long-standing U.S. sanctions on Syria after meeting its new president, raising eyebrows among traditional allies.

Ticker News anchor Veronica Dudo speaks with Erbil “Bill” Gunasti, former Turkish PM Press Officer and Republican strategist, to break down the implications for national security, global diplomacy, and the path to peace in Ukraine.

Continue Reading

News

Trump’s AI deals raise concerns over China ties

Trump’s AI deals in the Middle East spark division over national security risks and concerns over China ties.

Published

on

Trump’s AI deals in the Middle East spark division over national security risks and concerns over China ties.

In Short:
Trump’s AI deals with Saudi Arabia and the UAE are causing internal conflicts in his administration over US national security. Officials are concerned that American technology supplied to the Gulf could ultimately benefit China, leading to calls for enhanced legal protections.

President Donald Trump’s recent AI deals in Saudi Arabia and the UAE are causing internal conflicts within his administration.

Concerns are rising among officials, particularly China hawks, about the implications for US national security and economic interests.

Agreements include shipments of vast quantities of semiconductors from Nvidia and AMD to the Gulf states, prompting fears that American technology could ultimately benefit China, given the region’s ties with Beijing.

While the accords include clauses to limit Chinese access to the chips, some officials argue that further legal protections are necessary.

Critics, including Vice President JD Vance, have suggested that maintaining US dominance in AI is crucial, and shipping chips abroad might undermine that goal.

Supporters of the deals, including AI Adviser David Sacks, argue the need for American technology in the Gulf to deter reliance on Chinese alternatives.

Despite this, internal discussions are underway to potentially slow down or reassess the agreements due to ongoing national security concerns.

Conversations have also included proposals for a significant chip manufacturing facility in the UAE, which many officials deem risky due to China’s influence.

Additionally, worries persist about G42, an AI firm in Abu Dhabi, which has historical ties to Huawei.

The agreements with Gulf countries promise to enhance their technological capabilities while necessitating careful oversight to address US security priorities.

 

Continue Reading

Trending Now