Ch 12 Agreement

Question 1

Agreement

Answer 1

Parties agree on terms of contract and manifest to e other their mutual assent to the same bargain

Question 2

Offer

Answer 2

Promise to do/not do something in the future

Question 3

Requirements of the offer (3)

Answer 3

Serious intention, as determined by reasonable person in oversees position would conclude actions meant
Definiteness of terms
Offer must be communicated to offeree

Question 4

Seriousness of offer (6)? Serious and objective test?

Answer 4

1. Cannot be expressions of opinion, statement of future intent, prelim negotiations, invitation to bid, ads, auctions
2. X anger, jest, or undue excitement

Question 5

Agreements to agree and preliminary agreements

Answer 5

Enforceable if clear both parties intended to be bound

Binding if all essential terms agreed on and no disputed issues remain

Question 6

Termination by parties (3)

Answer 6

Revocation, rejection, counteroffer

Question 7

Revocation - how? (2)

Answer 7

Ok if communicated b4 accepted

1. Express repudiation of offer
2. Performance of acts inconsistent w existence of offer and made known to offeree

Question 8

Rejection isn’t

Answer 8

Inquiring about “firmness”

Question 9

Counteroffer

Answer 9

Rejection of original offer and make new offer

Question 10

Mirror image rule

Answer 10

Offer must be accepted exactly with no modifications

Question 11

Termination by operation of law (4)

Answer 11

Lapse of time (period specified in contract passed)
Destruction of specific subject matter - notice of destruction X necessary
Death or incompetence of the offeror/offeree
Supervening illegality of the proposed contract

Question 12

Acceptance def

Answer 12

Voluntary act by offeree that shows assent to terms of offer; unequivocal and communicated to offeror

Question 13

Provisions to include in online contracts (7)

Answer 13

Acceptance of terms, payment, return policy, disclaimer, limitation on remedies, privacy policy, dispute resolution

Question 14

Dispute settlement provisions incl/ (2)

Answer 14

Forum selection clause, choice of law clause

Question 15

3 types of online acceptances

Answer 15

Click-on agreements, shrink wrap agreements, partnering agreements

Question 16

Partnering agreements

Answer 16

Buyer and seller who freq do business together agree in advance on terms and conditions that will apply in future

Question 17

E-sign act

Answer 17

No contract, record, or signature denied legal effect b/c electronic

Question 18

The UETA

Answer 18

Most states, signature X be denied legal effect b/c electronic
Regards to transactions

Question 19

UETA v ESIGN

Answer 19

If state enacted uniform v of EUTA, X preempted by ESIGN

Question 20

UETA and errors

Answer 20

To avoid effect of errors, party must promptly notify other of error and intent not to be bound by error. Must not benefit, or else cannot avoid a transaction