B Law Unit 1 Ch 10
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| agreement | A mutual understanding or meeting of the minds between two or more individuals regarding the terms of a contract.
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| offer | A promise or commitment to perform or refrain from performing some specified act in the future.
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| revocation | The withdrawal of a contract offer by the offeror. Can be done at any time prior to acceptance without liability, unless the offer is ir---able.
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| counteroffer | 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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| mirror image rule | A common law rule that requires that the terms of the offeree’s acceptance adhere exactly to the terms of the offeror’s offer for a valid contract to be formed.
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| option contract | A contract under which the offeror cannot revoke the offer for a stipulated time period (because the offeree has given consideration for the offer to remain open).
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| acceptance | The act of voluntarily agreeing, through words or conduct, to the terms of an offer, thereby creating a contract.
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| mailbox rule | A common law rule that acceptance takes effect, and thus completes formation of the contract, at the time the offeree sends or delivers the acceptance via the communication mode expressly or impliedly authorized by the offeror.
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| e-contract | A contract that is formed electronically.
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| click-on agreement | An agreement that arises when an online buyer clicks on “I agree,” or otherwise indicates his asset to be bound by the terms of an offer.
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| shrink-wrap agreement | An agreement whose terms are expressed in a document located inside a box in which goods (usually software) are packaged.
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| browse-wrap term | A term or condition of use that is presented when an online buyer downloads a product but the buyer does not have to agree to before installing or using the product.
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| e-signature | An electronic sound, symbol, or process attached to or logically associated with a record and adopted by a person with the intent to sign the record.
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| partnering agreement | An agreement between a seller and a buyer who frequently do business with each other concerning the terms and conditions that will apply to all subsequently formed electronic contracts.
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| record | Information that is either inscribed on a tangible medium or stored in an electronic or other medium and is retrievable.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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