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BFA506 Business Law
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BFA506 Business Law
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Course Code: BFA506
University: University Of Tasmania
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Country: Australia
Questions:
Business Law with UCC Applications
Please respond to each assigned question from the “Cases for Analysis” section at the end of designated chapter.
Please respond to completely and accurately. Each response will be judged on your ability to spot the relevant issues and capacity to present strong, analytical and logical discussions that support your conclusions.
Answers:
The mirror image rule has been referred to as the well established principle in the law of contract. In this regard, it is worth mentioning that a contract is formed when the acceptance is made in accordance to the offer (Wang, Wang & Liu, 2016). Throughout the business environment, the mirror image rule has been utilized. However, the alteration of the mirror image rule has been altered by the UCC.
Revocation is referred to as the act on the part of one of one of the parties to a contract. A revocation results to the cancellation of the contract which may occur mutually or with the withdrawal of the contract before accepting.
Duress forms an important defense under the law of contract. It is often referred to as the wrongful pressured imposed upon any individual in order to induce him towards the contract by use of intentional force. Undue influence do not involve force however; there involves undue advantage of another person with the establishment of mutual trust.
It is worthwhile to mention here that, from the very beginning charitable pledges were not enforced as contractual obligations as there involves no consideration. However, the Courts are at the authority to enforce charitable pledges if actual consideration is associated with it.
Various issues are associated with cyber crime. The most important issues can be emphasized as-
Cyber-price and competition: It is evident that wide variety of measures is available to the consumers when it comes to comparison in case of establishment of consideration in case of online contracts (Naili, Boubetra & Tari, 2018). Though consumers have detailed knowledge regarding the ramifications involved in such process; still cyber shopping continues like before.
Costs involved in cyber-shopping: In modern era, cyber shopping is not a new concept. However, cyber-shopping has few drawbacks as well. One of the major drawbacks associated with it the issue associated with hidden costs. Hidden costs may be internet handling fees, internet access fees and shipping costs (Gantayat & Giri, 2016). Customers may not be aware of these hidden costs as in most of the cases shippers overestimate the cost of shipping.
Legal issues: Consumers are aware of the illegal practices of cyber crime as well. Most of the time these, illegal practices are associated with credit-card fraud and irrelevant price-setting methods.
Cyber payment options: Several payment methods are associated with cyber online shopping sites. However, various frauds can be associated with such payment methods.
The information that must be in writing must comply with the elements mentioned below:
The terms of the agreement must be there.
The subject-matter of the contract must be clearly identified.
The statement of the consideration promised must be mentioned.
The names and the identities of the person bound by the obligation must be mentioned.
The signature of both the parties to the contract must be there in order to bind them with the agreement.
It is important that the parties involved in the agreement must be legally competent and such agreement must be in writing.
Various issues are associated with cyber commerce as well. In this regard, it is noteworthy to mention here that, most of the time the common techniques involved with cyber-commerce is buying and selling by using the internet. It is worth noting that, various transactions are associated with it (Gangele, Pathak & Verma, 2017). There are list of problems associated with cyber-commerce. The most important issue is associated with verification problems. It is worth mentioning that, parties to the contract can ovoid such issues with the addition of certain terms and conditions which can delay the creation of contract to a large extent (Agarwal & Wu, 2018). However, these solutions proved to have shown unsatisfactory results in the long run. Another solution is associated with the customization of the verification process involved in cyber-transaction. It is important that each contract must be verified individually in order to avoid conflict and maintain certainty. It is important to promote digital signatures which provide authentic transaction process.
It is important on the part of the electronic party to ensure that, the copy of the electronic contract should be made available to the parties by providing them with a hyperlink by displaying the actual language of the agreement. This process is referred to as click-on –agreements and often clicks-on- acceptance
References
Agarwal, J., & Wu, T. (2018). E-Commerce in Emerging Economies: A Multi-theoretical and Multilevel Framework and Global Firm Strategies. In Emerging Issues in Global Marketing (pp. 231-253). Springer, Cham.
Gangele, S., Pathak, D., & Verma, D. (2017). The Analysis of Security Issues and Threat Prevention Model in E-Commerce.
Gantayat, M., & Giri, C. K. (2016). Security Issues, Challenges and Solutions for E-Commerce Applications over Web. International Journal of Engineering and Management Research (IJEMR), 6(5), 351-357.
Naili, M., Boubetra, A., & Tari, A. (2018). Fuzzy Multi-Criteria Decision Making Methods for E-Commerce Issues. In Mobile Commerce: Concepts, Methodologies, Tools, and Applications(pp. 204-242). IGI Global.
Wang, W. T., Wang, Y. S., & Liu, E. R. (2016). The stickiness intention of group-buying websites: The integration of the commitment–trust theory and e-commerce success model. Information & Management, 53(5), 625-642.
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