Term
| A legal and binding agreement is known in law as a contract and it can be enforced in |
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Definition
| a court of law or equity. |
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Term
| True/False A bilateral contract is one that is known in law as a promise for a promise, whereas a unilateral contract is known as a promise for an act. |
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Term
| A Nondisclosure Agreement (NDA) |
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Definition
| swears a person to secrecy about what they are told about someone’s ideas or creation. |
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Term
| Which Act was enacted by the Federal Government to combat having someone who registers domain names of famous companies and demands a significant amount of monetary payment before transferring such names to companies: |
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Definition
| Anticybersquatting Consumer Protection Act. |
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Term
| In the world of e-commerce and information technology “The Uniform Computer Information Transactions Act” (UCITA) established: |
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Definition
| a uniform and comprehensive set of rules governing the creation, performance and enforcement of computer information transactions. |
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Term
| When contracting parties seek to avoid litigation for breach of the contract by either party, the law permits contracting parties to set our what will occur upon a breach, and this “damage” clause in a contract is known as what type of clause |
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Term
| Online contracts should posses an exceptional amount of ethics in the creation the offer because of the: |
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Term
| The US Constitution provides for protection of the works of inventors and writes by Article I, Section 8, which apples to a: |
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Definition
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Term
| The Statue of Frauds requires: |
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Definition
| deals with the enforceability of contracts in five specific areas, and, if this Statue is not followed, adhered to in its entirety, the result will be a contract formed that is not enforceable. |
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Term
| The elements of any contract are: |
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Definition
| intent, consideration, legal subject matter, acceptance, capacity, offer. |
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Term
| Which contract element if missing makes the contract void, void meaning that no contract ever existed: |
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Definition
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Term
| An excecutory contract is |
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Definition
| one that has something remaining to be done, usually performance asked for in the offer, or payment to b |
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Term
| Under the common law and today’s normal contract transactions, the Mail Box rule means: |
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Definition
| accepting an offer occurs when the acceptance is mailed. |
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Term
| A minor who lacks the capacity to enter into a valid legal binding contract can contract for: |
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Definition
| necessities of food, clothing, shelter and insurance. |
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Term
| Once an offer is refused, |
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Definition
| the legal effect is that the once rejected offer is gone and is not an offer once rejected and only can be revived by the offeror restating the offer which then once again is available for acceptance. |
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Term
| The ancient English Common Law Doctrine of the Mirror Image Rule means: |
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Definition
| offer and acceptance are identical. |
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Term
| The copyright law protects |
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Definition
| a creation, something that is fresh and new, not duplicating and existing creation of something, but if one does not file for copyright protection in the Federal Copyright Office, the common law will protect the creator as the one who created an original that was not in existence before the thought/ creation. |
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Term
| Some of the subject matters (of an item “invented’) that can be patented are: |
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Definition
| machines, designs for an article for manufacture, processes. |
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Term
| The General Agreement on Tariffs and Trade (GATT) established the World Trade Organization (in 1992) (WTO) which extended a patent for protection to 20 years from 17 years and stated the patent begins to run |
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Definition
| from the date of the patent application not from the date it was issued. |
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Term
| A copyright holder was required to put the world on notice by a symbol such as © or Copyright, or copr., and the year it was copyrighted… but it is held universally in the law it is a better policy to continue to use such notice in spite of |
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Definition
| not being legally required to do so. |
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Term
| Which type/classification of a recipient of benefits of a contract formed between two other contracting parties does not have a legal right to sue if the contract is cancelled: |
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Definition
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Term
| The one year “on sale” doctrine does which of the following: |
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Definition
| prevents a patent if the item has been in commerce for more than a year prior to the filing of a patent application. |
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Term
| Trademarks are best exemplified by which answer: |
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Definition
| a distinctive mark, symbol, name, word, motto or device that identifies the goods of a particular business. |
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Term
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Definition
| a permit to use another’s copyright, trademark and trade name in business. |
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Term
| A counteroffer to an offer destroys/eliminates/ends the existence of the offer, but what impact does a counteroffer to an offer communicated in e-commerce have when dealing with Electronic Agents: |
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Definition
| does not have any legal effect and does not constitute counteroffer. |
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Term
| Electronic signature in Global and National Commerce Act (E-Sign Act) gives an e-signature the |
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Definition
| same legal force and effect as a pen-inscribed signature on paper. |
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Term
| A nondisclosure agreement, also known as a Confidentiality Agreement is:_____ Which serves which purpose: |
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Definition
| a contract, protects an original idea from unauthorized disclosure. |
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Term
| As you climb the corporate ladder to ultimate success, you at times will be guided by inserting into a contract, a clause stipulating/stating that in certain unforeseen evens – war, political upheavals, acts of God, that one party to a contract can be excused from performance without liability for such failure to perform and such clause is known as: |
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Term
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Definition
| ALL negotiable instruments must be written |
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Term
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Definition
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Term
| What are the four types of negotiable instruments? |
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Definition
| CD, check, note, draft (only one not unconditional) |
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Term
| The Doctrine of Respondeat superior |
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Definition
| creates liability on the principal (employer) and agent (employee) for acts committed by the agent in the scope and course of employment. |
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Term
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Definition
| Sale of Goods. Statue of Frauds applies if the contract is 5000.00 or more |
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Term
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Definition
| ownership and title pass between the buyer and seller. |
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Term
| Covenant Not to Compete - |
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Definition
| a contract term requiring certain restrictions of current employee’s future employment when employee resigns or is fired. |
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Term
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Definition
| purely statutory, not known to any common law doctrine. |
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