From the book: Miller, R. (2013). Fundamentals of Business Law: Summarized Cases
ID: 2713587 • Letter: F
Question
From the book: Miller, R. (2013). Fundamentals of Business Law: Summarized Cases. 9th ed. South-Western, Cengage Learning. ISBN: 978-1111530624
As you are well aware the “digital age” is upon us and with it come the benefits and detriments of being able to dispense with formal written contracts and engage in contractual activity by electronic interface – online commerce. You will have an appreciation that the first step in making a contract is to have a meeting of the minds: The components of this element are i) the making of an offer, and ii) the making of an acceptance of the offer. Traditionally, the offeror can simply say to the offeree, “I will pay you $100 for 100 widgets.” This would be a face-to-face situation and the offeree might reply, “I agree to sell you 100 widgets for $100.” The arrangement may or may not be reduced to written form, but this is not necessary.
Modernly, the offeror may well be sitting at a keyboard and never sees the offeree who is receiving the offer by electronic transmission on an iPad. This will increasingly be the reality in consideration of ecological sustainability concerns and the increasing power and efficiency of online communications.
What contrasts can be made as to whether an offer and acceptance have been made in a face-to-face situation as compared with an online arrangement?
A Bus Law Question it is not in the selection subject. Contract law question
Explanation / Answer
In an online arrangement the buyer and seller dont know each other but the agreement is being made. The online arrangement saves a lot of time and cost i.e. the cost of travelling, the cost of time etc. Nowadays almost all the things are being done online. We buy our clothes onlines, we can sit at home and can order anything which saves time. The main drawback of online is the communication gap, we are not able to analyse exactly.
In Face to face agreement we can see each other while contracting. We knows who is selling goods to us or whom we are selling etc. It consumes time.
Therefore online is being given preference now adays.
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