Contracts in Cyberspace

question 29

Multiple Choice

Contracts in cyberspace:

• A) are formed as a result of the desire for speed.
• B) are formed using purchase orders and invoices submitted via computer.
• C) require both an offer and an acceptance.
• D) all of the above.

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Definitions:

Revised Model Act

A updated legal model or framework designed to guide the development of specific legislation or regulatory standards.

Incorporated

The process of legally declaring a corporate entity as separate from its owners, providing legal protections and allowing for the raising of capital.

De Facto Corporation

A corporation that operates in all respects as a corporation despite not having completed the formalities required for legal recognition.

Ultra Vires

Actions or activities conducted by a corporation or its officers that lie beyond the powers granted by its charter or the laws.