Howe Enters into a Contract with Ida Over the Internet

question 66

Multiple Choice

Howe enters into a contract with Ida over the Internet to buy soybeans as a hedge against falling prices in corn. Neither party prints out a hard copy. Under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act) , this contract can

• A) be denied legal effect if it falls under the UCC's Statute of Frauds.
• B) be denied legal effect unless a hard copy is printed.
• C) be denied legal effect until it is executed.
• D) not be denied legal effect because it is only in electronic form.

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Definitions:

Behavioral Segmentation

The process of dividing a market into groups based on consumer behavior patterns as they relate to the use of a product or service.

Consumer Markets

Markets consisting of individuals and households that purchase goods and services for personal consumption.

Product Usage

The manner in which a consumer uses a product, which can influence product development, marketing strategies, and customer satisfaction.

Market Segment

Refers to the division of the potential market into distinct groups of customers with common needs or characteristics.