Jaime and Kip, Consumers, Transact a Deal Over the Internet

question 21

Multiple Choice

Jaime and Kip, consumers, transact a deal over the Internet. Their contract does not mention the UETA. The UETA covers

• A) none of the contract.
• B) only the part of the contract that involves computer data.
• C) only the part of the contract that does not involve computer data.
• D) the entire contract.

---

Definitions:

Highly Compensated Employees

Employees who receive pay above a specific threshold set by the IRS, subject to additional rules and regulations for retirement plan contributions.

Pension

A retirement plan that requires an employer to make contributions into a pool of funds set aside for an employee's future benefit.

Profit-sharing Plan

A retirement plan that gives employees a share in the profits of the company. Each employee receives a percentage of those profits based on the company's earnings.

Defined-benefit Plans

Retirement plans that promise a specific pension payment upon retirement, based on salary and years of service.