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:

Fair Market Value

The price that property would sell for on the open market between a willing buyer and a willing seller.

Rental Payment

The amount paid periodically by a tenant to a landlord in exchange for the use of property or land.

Primarily Rental Property

Real estate that is predominantly used for rental to others, rather than as the owner's primary residence.

Schedule E

A form used by the IRS for taxpayers to report income and losses from rental property, royalties, partnerships, S corporations, estates, and trusts.