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Exam 12: Agreement in Traditional and E-Contracts

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Question 21

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Corporate Code, Inc., sells business software-accounting and book-keeping 2, blank business forms, inventory control functions, and the like-in different combinations, in different packages, at different prices. Each package includes a shrink-wrap agreement that limits warranties and remedies. Developmental Research Corporation (DRC) buys a Corporate Code package and uses the product. Later, DRC files a suit against the software seller, claiming that the product was flawed and that the flaws caused DRC to suffer business losses. DRC asks for relief that exceeds the limits in the shrink-wrap agreement. What is a shrink-wrap agreement? Are such agreements always enforced? Under what circumstances is a court likely to enforce this agreement?

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A shrink-wrap agreement is an agreement ...

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Question 22

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Waste Management Corporation enters into contracts for its services online. Waste Management can protect itself against disputes involving these contracts by making important terms

A) ​reasonably clear.
B) ​vaguely ambiguous.
C) ​practical.
D) ​standardized.

E) A) and C)
F) A) and B)

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Question 23

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On December 1, Petro, Inc., sent Rachel & Rico (R&R) a letter, via overnight delivery, offering to employ R&R to review Petro's tax situation for the current year for $10,000. In the letter, the company stated that R&R had ten days to accept. On December 5, R&R sent an e-mail message that stated, "The price for the tax analysis seems too low. Would you consider paying $15,000?" Petro received the message without responding immediately. The next day, Smith & Taylor, an R&R competitor, offered to conduct the appraisal for $8,000. On learning of this offer, R&R immediately e-mailed Petro, agreeing to do the work for $10,000. Petro received this message on December 7. Explain why R&R and Petro do, or do not, have a contract.

An invitation to negotiate-"can you afford this?"-is an offer.

An essential element for contract formation is agreement.

In a bilateral contract, communication of acceptance is necessary.

Coffee Brokers, Inc., offers to buy Dining Company's coffee-roasting services for a certain price. Dining responds that the price is too low and thereby rejects the offer. The offer is

Shelby offers to make digital copies of Relay Company's business conference videotapes, CDs, DVDs, and other media for $500. Under the mailbox rule, Relay's acceptance by e-mail will be considered effective when

Lou offers to service Millie's heating and air conditioning system for one year for $500. Under the mirror image rule, Millie's response will be considered an acceptance if the terms of the acceptance

The first requirement for an offer is that it must be practical.

Gayla tells Franco that she will pay him $50 to haul the trimmed tree limbs and other lawn debris from her property. Franco's acceptance is complete

Anton tells Brooke, who has no knowledge of Shakespearean comedy, that he will tutor her in the subject for $50. As an offer, this is

A price list is an invitation to negotiate.

Generally, an offeree's power of acceptance is terminated when the offeror or offeree dies.

Wally offers to repair and service a forklift for Valu Lumber Outlet, but Wally dies before Valu accepts. Most likely, Wally's death

Fresh Service, Inc., offers to deliver produce to Growers' Market's customers for a certain price. Fresh's intent to extend a serious offer to Growers' Market is determined by reference to Fresh's

Bret buys a subscription to the catalog of music provided by Concerto, an online music vendor. Before accessing the catalog, Bret must agree to a provision stating that she will not make and sell copies of the music. This provision is

Business Properties, Inc. (BPI) , offers to sell a cold storage warehouse to Corporate Investments. Corporate says that it will pay BPI $100 to hold the offer open for three business days. This

Rafi offers a tour of Bay Harbor aboard his sailboat, Sea Siren, to Tiara's Travel Group for $500. Referring to the prices for similar tours, Tiara's says, "We'll pay no more than $400." Rafi's offer is

Green River Gas Company offers to sell Far East Energy, Ltd., a certain quantity of liquefied natural gas. If Far East sends an acceptance via Green River's authorized mode of communication, it will be effective when it is