Chapter 9: Consideration And Cyber Payments

chapler 9:consideration and cverpaymentsRequirements 01 considerationthe mum transise 10 exchange and betweenine pariesThe Nature OF consideration00 DY Inc OFFICE 15.01 one some me 0 10 SS 19 me offerorlike wise the gain borgareed (o) by inc offeror will result n.a loss or satisfice by me offeree.The legallerm used to describe the sacrifice ino each Dany must experienceA can bebeing Dimining (D) promising to a someoning ina one nas 0 regarrightGoing us somewing (OT promising 10 give up something 9708 one has a cool rigre to KEEPrecreating from doing something (01 pramising nationd something! no nos a legal nan 10 do LOUSE calledThe Characteristics OF Considerationthe agreement mustinyolve a bargared 101 exchangeThe common must involve anequare considerationThe venetus and detiments promised must memselves be legalBargained For ExchangeAn agreement involves a bargonnectstor exchange whenA promise is made in exchange 101 womer promise.A promise is made in exchange FOR an act.promise is made for For bearance or anacAaequacy OF considerationin general the cours do no 100K 10 see whether me value 01 the consideration was tain to both partiesA court my refuse 10 enjorce a contract or any clause 01 a contract is 11 considers the contract or clause unconsidenti⑆ Types OF considerationPromise not 10 sue1 customery way 10 settle or prevent a ID exchange FOR on amount as moneycommany called a releaseBroan71 which arm 0 empoys a make certain na contractsusing broon as consideration are secure companed and verifiedproblems with considerationDisputed Amount.....one on which the parties never reached muxual agreement10 creation accedes as FUTI payment an amount natis less man the amount due the dispute no seuse DYATandAgreementsPromoses under sealproblems auer discharge in pankruplayDepis barred by statutes 01promises enforced by promissory estoppelOptionagreements without considerationenforceable in some states for contracts no involving goods unenforce and under the UCC for can tracis invoying2000PIGNATURES enforcement in most statesPromise pay enforceablepromises entered esiappel Enforceable any 11 offeror knew that offeree would (ey on the promise and offeree placesrimsell or hersell in a different and difficult position as a result of inal promiseDougy Enforceable under the UCC is made by a merchant in writing staring the time period over which the offer will remain ovenmysorvipromises2 -UNIVERSITY: as 0 consideration na new contractPromises under Sealseaf4 mark St procedure 2 written consmal increasing not the instrument was executed and accepted in a Formal marIncusPlace 0% one sealDebts Barred by Statutes OF Limitations*StateOWS known.os limit the time winnin when a party is allowed 10 bring suitthe time anowed FDI the correction OF 0 dent varies From state 13 signe usually From three 10 en yearspromises Enforced by Promissory EStoppelthat restricts a part From deny ng and a promise was made under cctrain conditions even though considerationwas not been exchanged to and an agreementOptionOperatethe giving 01 consideration 10 supportan Offeror's promise 10 had oven or offer For a stated ora reasonable rengin of timenomenter internacione offerunenforceable AgreementsPreexisting duriesA promise to an same thou are is already objected 10.00 by law or by some other promise or agree ment cannot bemade consideration na new contractpast consideration/ promise 10 give mother something of value inform FOR goods or Services renaered and desired in the pastwithout expectation or reward missory commistand INTER seems genuine DU that on close examination 10113 10 originic 'ne promise 37 10 do drivingCyber-Payment taclics and ConcernsCyber price and compensionover-price snopping and order shopping castsCyber paymentsCyber - Price and Competitionthe internet nas neiped improve the pricing processconsumers cannow use the internet to seek OUT competitive prices mus improving their adility 10 set the consideration a , level withwhich they are comfortableCyber . Price Snoppingsame onine cyber consumers now make regular use of electronic agents referred HOS a bot 100004 shopsing bat cvber not are-og 10 CHIPme vas reaches of cyperepace 10 and the lowes price available on on item or a serviceTWO model acts that cover this process are the uniform Computer information transactions Act (UCITA) and the Uniform ElectronicTransactions Act (VETA)Cyber r-Snopping costsDIOW BOOKS involve the danger OF ridden COSIS such as internet access fee and snipping and handing feesCyber Payments OptionsCredit cords and depit cardsDirect online payment systems such as PaypalCyber Payment Security UpdateEUDOHO protection DIRECTION along with the guarantee the rights OF European Gilizens were at the some umeensuring me smoon exchange 01 and among those nation-states that nonor the privacy and data protection standards themselvessare Handor principlesU.S corporations that are involved with EV corporations must demonstrate that the companies inemselves will promise 10 nonor the saredegree 01 protection is data and to privacy as guaranteed or the LUV