It Seemed Almost Too Good to Be True

question 22

Essay

It seemed almost too good to be true.Because he was about to start university, Delroy was desperate to buy a laptop computer.And because money was tight, he was also hoping to spend as little as possible.Those two factors came together when Delroy entered into the website that Personal Solutions Computers (PSC) uses for online contracts.The laptop that interested Delroy usually sold for around $2000, but the website gave a "time limited special offer" price of $150. Delroy immediately submitted a purchase order and clicked on a button that said "I Agree to Be Bound By the Terms of This Agreement."
A few minutes later, he received an "Order Confirmation" email that referred to the laptop and the price of $150.Later the same day, however, Delroy received a second email from PSc.That message said that the quoted price of $150 was the result of an employee's error.PSC actually intended to sell the laptop for $1500.The message also said that the terms of the contract, which were accessible by way of a hyperlink on the order page, included an exclusion clause for such errors.Delroy nevertheless insists that he is entitled to purchase the laptop for $150.He honestly had not noticed the hyperlink at the time of purchase and he certainly had not been aware of the exclusion clause.Will a court enforce the exclusion clause in PSC's favour? Explain how the courts decide which "hidden" terms are included within online contracts. Which considerations are relevant to that exercise?

Grasp the significance of risk perception and decision-making under uncertainty.

Comprehend the dynamics of intertemporal choices and discounting.

Evaluate the practical applications of behavioral economic strategies in improving individual and societal outcomes.

Understand the concept of implicit and incentive-based trust and distinguish between various sources of trust development.

---

Definitions:

Darity And Myers

Refers to William Darity Jr. and Samuel L. Myers, Jr., economists known for their work on racial disparities in economic outcomes.

Economy

The large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated.

Marginal

Refers to the change or difference in an economic variable when altering another variable by a small or marginal amount.

Welfare Dependency

A situation where individuals or families continually rely on government welfare programs for their income over long periods, rather than seeking employment.