In the Context of the Electronic Transactions Act 1999 (Cth)

question 6

Multiple Choice

In the context of the Electronic Transactions Act 1999 (Cth) , which of the following statements is NOT correct?

• A) A contract entered into by electronic means is to be treated in the same way as an equivalent contract entered into by more traditional means.
• B) Once an electronic communication has been received it is deemed to have been read and understood.
• C) A legal requirement to provide information in writing can be satisfied if the person gives the information by means of an electronic communication.
• D) A transaction is not invalid because it took place wholly or partly electronically.

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Definitions:

Lease Obligations

Financial commitments arising from lease agreements, which may include future lease payments for rented equipment or property.

Coupon Rate

The rate of interest paid yearly on a bond, represented as a percentage of its face value.

Par Value

A nominal or face value assigned to a share of stock or a bond by the issuer.

Interest Rate

This is the charge, applied as a percentage of the principal sum, that a lender requires from a borrower for using its assets.