Chapt. 12 Key Words - Chapter 12 Key Terms Acceptance 1 In...

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Chapter 12 Key Terms Acceptance – 1 In a contract law, the offeree’s notification to the offeror that the offeree agrees to be bound by the terms of the offeror’s proposal 2 In negotiable instruments law, the drawee’s signed agreement to pay a draft when presented Agreement – A meeting of two or more minds in regard to the terms of a contract; usually broken down into two events Browse-Wrap Terms – Terms and conditions of use that are presented to an Internet user at the time certain products, such as software, are being downloaded by that need not be agreed to before being install or use the product Click-on Agreement – An agreement that arises when a buyer, engaging in a transaction on a computer, indicates his or her assent to be bound by the terms of an offer by clicking on a button “I agree” Couteroffer – An offeree’s response to an offer in which the offeree rejects the original offer and at the same time makes a new offer
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