Direction Research on-line auctions using the Internet. Using your research, Cha

Question

Direction

Research on-line auctions using the Internet. Using your research, Chapter 14, and the lecture for Chapter 14, answer the questions: why should you beware of "kid-bids" (bids by children)? What are other drawbacks to on-line auctions? Please limit your comments to 300 words or less and list websites you quote or cite at the bottom of your comments.

Course: Business Law 1 (MG260DLBU1A2016 Business Law I): Book: Business Law: The Ethical, Global, and E-Commerce Environment 16th edition

PLEASE ANSWER ON A JUNIOR COLLEGE LEVEL AND PLEASE CITE YOUR SOURCES

Explanation / Answer

Ans 1)When auctioning something online one needs to be cautious. A minor, under the age of 18, may disaffirm a contract entered into with someone at the age of majority. A minor can enter into any contract that is not prohibited by law. “Courts have recognized that minors are in a vulnerable position in their dealings with adults. So, minors are considered to lack capacity to contract.” The better thing to do is to state in your listing that no bid by someone under that age of 18 is acceptable

ans 2)Shills can be the actual seller or a friend of the seller making bids on the item that is up for auction to commence the bidding war or to try and force the actual buyer’s bid higher. Another drawback is when the buyer utilizes another email or has a friend bidding. This is called a “shield.” What the shield does is make high bids and discourages other bids. Then close to the ending period of the auction quickly withdraws so that the actual bidder wins the auction. .

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