estions Dec. $2023$ S$1-4.$pdf

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Wk$2$ Review Guide Questions

A contract is a voluntary exchange of promises, creating obligation, which, if defaulted on$,$ can be enforced, and remedied by the courts. Below are the basics requirements to form a legally enforceable contract, except?

A$.$ Offer and acceptance.

B$.$ Consideration.

C$.$ Intention.

D$.$ Object subject to barter.

Statement $1-$ The ecommerce legislation has modernized contract formation rules to allow "clicking an icon" to satisfy the acceptance and communication requirements of contract formation. Statement $2-$ The legislation also requires, before the consumer enter into an internet agreement, the supplier to disclose specific information about, among other things, the total price of the good or service, the terms of payment, and warranties. Statement $3-$ The internet contract is not formed until the retailer communicates acceptance with a confirmation number. From the choices below, please choose the correct answer.

A$.$ All statements are true.

B$.$ All statements are false.

C$.$ Statements $1$&$2$ are true, and statement $3$ is false.

D$.$ Statements $1$&$2$ are false, and statement $3$ is true.