The licensee generally pays a fixed sum when signing a license agreement and then royalties over the life of the contract.
Answer the following statement true (T) or false (F)
True
This is taken from the text.
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Unearned revenues are amounts received in advance from customers for future products or services.
Answer the following statement true (T) or false (F)
Offering an inducement to complete a questionnaire survey will reduce validityof the da-ta
Indicate whether the statement is true or false
Which of the following describes a cliquet option
A. An option to exchange one asset for another B. An instrument when the holder can choose between several alternative options C. An option on an option with predetermined strike prices for the two options D. A series of options with rules for determining strike prices
On September 27, Summers sent Fox a letter offering to sell Fox a vacation home for $150,000 . On October 2, Fox replied by mail agreeing to buy the home for $145,000 . Summers did not reply to Fox. Do Fox and Summers have a binding contract?
a. No, because Fox failed to sign and return Summers's letter. b. No, because Fox's letter was a counteroffer. c. Yes, because Summers's offer was validly accepted. d. Yes, because Summers's silence is an implied acceptance of Fox's letter (Law, #2, 0462).