What Is the Purpose of the Uniform Computer Information Transactions

question 29

Multiple Choice

What is the purpose of the Uniform Computer Information Transactions Act?

• A) to ensure that credit card companies process transactions promptly
• B) to establish uniform rules for the formation and enforcement of electronic contracts and licenses
• C) to convert existing contract law so that all contracts are interpreted as if they were negotiated over the Internet
• D) to provide consumers certain rights in their contracts with Internet service providers
• E) to provide a criminal cause of action for computer fraud

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Definitions:

Cash Dividends

Payments made by a company out of its profits to its shareholders, distributed as a fixed amount per share.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting liabilities, representing ownership equity in the company.

Cash Dividend

A financial disbursement by a corporation to its stockholders, often as part of the company's profit sharing.