An Offer Accepted on a Website or by Email Will

question 18

Multiple Choice

An offer accepted on a website or by email will be effective so long as the basic requirements of acceptance are made. Which of the following statements are true?

• A) When people buy software over the internet, or the licence to use it, clicking the "I Accept" button is the equivalent of removing the shrink-wrap, and the contract is binding as soon as the button is clicked.
• B) When people buy software over the internet, or the licence to use it, the contract is binding immediately since the postbox rule of acceptance applies.
• C) A purchaser of a product online will be bound by all the terms of the agreement regardless if has notice.
• D) When people buy software over the internet, the contract is binding only when the product has been delivered.
• E) When people buy software over the internet, or the licence to use it, it is not necessary, that the purchaser indicate that they have read and accepted the seller's terms and conditions.

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Definitions:

Uncollectible Accounts

Accounts receivable that are considered unlikely to be collected and are therefore written off as a loss.

Adjustment

A modification made to financial records to correct or update them.

Balance Sheet Approach

A method of estimating the net worth of a company by comparing its assets against its liabilities and shareholders' equity.

Receivables

Amounts owed to a company by its customers from sales or services provided on credit.