Chapter 9 Nature of Traditional and E-Contracts - Nature of...

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Chapter 10 / Exercise 8
Cengage Advantage Books: Foundations of the Legal Environment of Business
Jennings
Expert Verified
Chapter 9Name___________________________________TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.1)Ross makes an offer to Elizabeth to sell his automobile to her for $10,000. In this case, Ross is theofferee and Elizabeth is the offeror.1)2)Provision of services qualifies as a "consideration" for an enforceable contract.2)3)Agreement to a contract requires an offer by the offeror and an acceptance of the offer by theofferee.3)4)If the law requires that a contract be in writing, failure of such a contract to be in writing does notimpact its enforcement.4)5)Common law of contracts refers to contract law developed primarily by state courts.5)6)The goal of the Uniform Commercial Code is to regularize foreign trade norms among the 50 statesof the U.S.A.6)7)Article 2 of the UCC prescribes a set of uniform rules for the creation and enforcement of contractsfor the sale of goods.7)8)Restatement of the Law of Contracts is the agreed upon federal law in the United States.8)9)Objective theory of contracts states that the intent to contract is judged by the reasonable personstandard and not by the subjective intent of the parties.9)10)Under the objective theory of contracts, the subjective intent of a party to enter into a contract isirrelevant.10)11)Companies are not permitted to issue licenses by e-commerce.11)12)Traditional contract rules do not apply to e-contracts.12)13)The UCITA does not require state legislature to become law of a state.13)14)The UCITA establishes uniform legal rules for the formation and enforcement of electroniccontracts and licenses.14)15)The UCITA is a law common to all states and does not require state legislatures to adopt it as astatute for the state15)16)If ambiguity is detected while determining the type of contract, it is presumed to be a bilateralcontract.16)1Nature of Traditional and E-Contracts
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Cengage Advantage Books: Foundations of the Legal Environment of Business
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Chapter 10 / Exercise 8
Cengage Advantage Books: Foundations of the Legal Environment of Business
Jennings
Expert Verified
17)A contract is bilateral contract if the offeror's promise is answered with the offeree's promise ofacceptance.17)18)An act of performance is necessary to create a bilateral contract.18)19)A unilateral contract can be accepted without the performance of an act by the offeree.19)20)An offer to create a unilateral contract cannot be accepted by a promise to perform.20)21)An offer to create a unilateral contract can be revoked by the offeror any time prior to the offeree'sperformance of the requested act.21)

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