Oklahoma Individual or Network Use Shrink-Wrap License Agreement
Description
How to fill out Individual Or Network Use Shrink-Wrap License Agreement?
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FAQ
wrap agreement is an agreement whose terms are expressed inside a package that contains computer hardware or software. The terms usually focus on warranties, remedies, or other issues related to the product's use. Shrinkwrap agreements have not always been enforced.
"Shrinkwrap licenses are enforceable unless their terms are objectionable on grounds applicable to contracts in general (for example, if they violate a rule of positive law, or if they are un- conscionable).
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. In some states, elements of consideration can be satisfied by a valid substitute.
Explanation: The statement is true. Terms in a shrink-wrap agreement have been enforced in the same way as the terms of other contracts. A shrink-wrap agreement is a contract that is included inside or with a product and is only visible after removing the plastic shrink-wrap or opening the product's packaging.
wrap agreement is a nonnegotiable, preprinted agreement that is wrapped in cellophane and included in a box that contains a software program.
Material License Agreement means each license agreement of any Borrower in respect of Third Party Intellectual Property set forth on the Disclosure Schedule as being a license agreement the termination of which could reasonably be expected to result in a Material Adverse Effect.