E-Sign

question 27

Multiple Choice

E-Sign:

• A) preempts the Uniform Electronic Transactions Act.
• B) requires persons to agree to use or accept electronic records or electronic signatures,provided they are informed of the types of hardware and software required and they have the required equipment.
• C) defines the included transactions narrowly.
• D) ensures that the electronic form of Internet and e-mail agreements will not make them unenforceable because of the statute of frauds.

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Definitions:

Escalation of Commitment

The phenomenon where people increase their investment in a decision despite new evidence suggesting it may be wrong, often due to cognitive biases or emotional attachment.

Framing Error

A cognitive bias where the context or way in which information is presented affects decision-making or judgement.

Auction Fever

Auction fever describes the emotional excitability and competitive bidding that can lead individuals to pay more for items in auctions than they are worth or had intended to spend.

Satisficing

A decision-making strategy that aims for an acceptable or satisfactory solution, rather than the optimal one.