Law for Business 12th Edition by James Barnes,Terry Dworkin,Eric Richards

Exercise 10

In 1996, Kobe Bryant was a 17-year-old high school basketball star. He declared his intention to forgo college and enter the NBA draft. Score Board, Inc. (SBI), contacted his agent about making a deal for marketing products relating to Bryant's career. SBI forwarded a signed licensing agreement to Bryant that gave SBI the right to make licensed products, such as trading cards, with Bryant's image. Bryant rejected it and sent a signed counteroffer to SBI. SBI signed it and put it in its files. Six weeks later, Bryant turned 18, and three days after that, he deposited SBI's check for $10,000 in his account. He then began performing his obligations under the agreement, including autograph signing sessions and public appearances. He continued to perform his duties for a year and a half. At that point, SBI entered bankruptcy and Bryant sought to repudiate the contract. Had Bryant ratified the contract? Why?