Chapter 9: Consideration And Cyber Payments

chapler 9:consideration and cverpayments Requirements 01 consideration the mum transise 10 exchange and betweenine paries The Nature OF consideration 00 DY Inc OFFICE 15.01 one some me 0 10 SS 19 me offeror like 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 experience A can be being Dimining (D) promising to a someoning ina one nas 0 regarright Going us somewing (OT promising 10 give up something 9708 one has a cool rigre to KEEP recreating from doing something (01 pramising nationd something! no nos a legal nan 10 do LOUSE called The Characteristics OF Consideration the agreement mustinyolve a bargared 101 exchange The common must involve anequare consideration The venetus and detiments promised must memselves be legal Bargained For Exchange An agreement involves a bargonnectstor exchange when A promise is made in exchange 101 womer promise . A promise is made in exchange FOR an act . promise is made for For bearance or anac Aaequacy OF consideration in general the cours do no 100K 10 see whether me value 01 the consideration was tain to both parties A court my refuse 10 enjorce a contract or any clause 01 a contract is 11 considers the contract or clause unconsidenti ⑆

Types OF consideration Promise not 10 sue 1 customery way 10 settle or prevent a ID exchange FOR on amount as money commany called a release Broan 71 which arm 0 empoys a make certain na contracts using broon as consideration are secure companed and verified problems with consideration Disputed Amount ..... one on which the parties never reached muxual agreement 10 creation accedes as FUTI payment an amount natis less man the amount due the dispute no seuse DYAT and Agreements Promoses under seal problems auer discharge in pankruplay Depis barred by statutes 01 promises enforced by promissory estoppel Option agreements without consideration enforceable in some states for contracts no involving goods unenforce and under the UCC for can tracis invoying 2000 PIGNATURES enforcement in most states Promise pay enforceable promises entered esiappel Enforceable any 11 offeror knew that offeree would (ey on the promise and offeree places rimsell or hersell in a different and difficult position as a result of inal promise Dougy Enforceable under the UCC is made by a merchant in writing staring the time period over which the offer will remain oven mysorvipromises 2

- UNIVERSITY : as 0 consideration na new contract Promises under Seal seaf 4 mark St procedure 2 written consmal increasing not the instrument was executed and accepted in a Formal mar Incus Place 0% one seal Debts Barred by Statutes OF Limitations *State OWS known.os limit the time winnin when a party is allowed 10 bring suit the time anowed FDI the correction OF 0 dent varies From state 13 signe usually From three 10 en years promises Enforced by Promissory EStoppel that restricts a part From deny ng and a promise was made under cctrain conditions even though consideration was not been exchanged to and an agreement Option Operate the giving 01 consideration 10 supportan Offeror's promise 10 had oven or offer For a stated ora reasonable rengin of time nomenter internacione offer unenforceable Agreements Preexisting duries A promise to an same thou are is already objected 10.00 by law or by some other promise or agree ment cannot be made consideration na new contract past consideration / promise 10 give mother something of value inform FOR goods or Services renaered and desired in the past without expectation or reward

missory commist and INTER seems genuine DU that on close examination 10113 10 originic 'ne promise 37 10 do driving Cyber-Payment taclics and Concerns Cyber price and compension over-price snopping and order shopping casts Cyber payments Cyber - Price and Competition the internet nas neiped improve the pricing process consumers cannow use the internet to seek OUT competitive prices mus improving their adility 10 set the consideration a , level with which they are comfortable Cyber . Price Snopping same onine cyber consumers now make regular use of electronic agents referred HOS a bot 100004 shopsing bat cvber not are-og 10 CHIP me vas reaches of cyperepace 10 and the lowes price available on on item or a service TWO model acts that cover this process are the uniform Computer information transactions Act (UCITA) and the Uniform Electronic Transactions Act (VETA) Cyber r-Snopping costs DIOW BOOKS involve the danger OF ridden COSIS such as internet access fee and snipping and handing fees Cyber Payments Options Credit cords and depit cards Direct online payment systems such as Paypal Cyber Payment Security Update EUDOHO protection DIRECTION along with the guarantee the rights OF European Gilizens were at the some ume ensuring me smoon exchange 01 and among those nation-states that nonor the privacy and data protection standards themselves sare Handor principles U.S corporations that are involved with EV corporations must demonstrate that the companies inemselves will promise 10 nonor the sare degree 01 protection is data and to privacy as guaranteed or the LU V