need explanation so i can understand the idea ( chap 12)

written words]. 3. The circumstances surrounding the transaction. Case in Point 11.1 Pan Handle Realty, LLC, built a luxury home in Westport, Connecticut. Robert Olins signed a lease for the property and gave Pan Handle a check for the amount of the annual renti$138,000. Olins planned to move into the home on January 28, but on lanuary 27, Olins's bank informed Pan Handle that payment had been stopped on the rental check. Olins then told Pan Handle that he was "unable to pursue any further interest in the property." When Pan Handle was not able to find a new tenant, it led a lawsuit in a Connecticut state court against Olins, alleging that he had breached the lease. Olins argued that when he signed the lease, he did not intend to be bound by it. The court ruled in Pan Handle's favor and awarded $138,000 in damages, plus $8,000 for utilities, interest, and attorneys' fees. The decision was affirmed on appeal. The objective fact, as supported by the evidence, was that the parties intended to be bound by the lease when they signed it. The fact that Olins had a change ofheart after signing the contract was irrelevant. * '"""' \""\""\"' ""1; \" ,,,,,,,,, "\" "'1! \"' ,,,, '"\" n 0' '"' """ \"' "\"' '"' ,,,,, ,,, "\"\"\""a' "\" \"sale\" of software generally involves a license, or a right to use the software, rather than the passage of title [ownership rights] from the seller to the buyer. Example 12.16 Lauren wants to obtain software that will allow her to work on spreadsheets on her smartphone. She goes online and purchases GridMagic. During the transaction, she clicks on several on-screen "1 agree" boxes to indicate her understanding that she is purchasing only the right to use the software, not ownership rights. After she agrees to these terms [the licensing agreement], she can download the software. As you read through the following subsections, you will see that we typically refer to the offeror and the offeree as a seller and a buyer. Keep in mind, though, that in many online transactions these parties would be more accurately described as a licensor and a licensee