An E-Contract Must Meet the Same Basic Requirements as Those

question 10

True/False

An e-contract must meet the same basic requirements as those required of a paper contract.

---

Definitions:

Unconsummated Transaction

A trade or deal that has been agreed upon in principle but has not been finalized or executed.

Levied

The act of imposing a tax, fee, or fine.

Surplus Created

The excess of production or supply over demand, resulting in a situation where the quantity of goods exceeds the quantity needed or demanded.

Purchase

The act of buying goods or services; the transaction process through which a buyer acquires products or services in exchange for money.