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Flashcards in Chapter 6 Deck (13)
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1

Define contract.

- a set of promises that the law will enforce.

2

Define offer.

- a description of a promise one party is willing to make, subject to the agreement of the other party

3

Define offeree.

- the person to whom the offer is made.

4

Define offeror.

- the person making the offer.

5

Define standard form contract.

- an offer prepared in advance by the offeror, including terms favourable to the offeror that cannot be changed by the offeree, but must be accepted as is or rejected in their entirety, also known as a contract of adhesion

6

Define lapse.

- the termination of an offer when the offeree fails to accept it within a specified time, or it no time is specified, then within a reasonable time

7

Define option.

- a contract to keep an offer open for a specified time in return for a sum of money

8

Define negative option billing.

- a practice of adding services and sending bills without request and relying upon customer to cancel if they don't wish the service.

9

Define inviting tenders.

- seeking offers from suppliers.

10

Define standing offer.

- an offer that may be accepted as needed from time to time

11

What are ways in which an offer comes to an end?

1) offer may lapse
2) offeror revokes offer before offeree has accepted
3) offeree rejects offer or makes a counter-offer
4) offeree accepts before any of the 3 has occurred

12

What 2 key types of legislation that govern the formation of online contracts?

1) ecommerce
2) consumer protection

13

What info should be disclosed before a consumer enters into an internet agreement, according to Ont Consumer Protection Act?

1) total price of goods/services
2) term of payment
3) warranties

- should supply consumer with express opportunity to accept or decline agreement