Q. 1. Explain why are patents protected for a limited period of time? Does this argue in favour of not patenting an item?

2. Under the mailbox rule there is a period of time when the offeror may be in a contract and not be aware of it. If the rule were changed such which acceptances were effective upon receipt, would this eliminate the problem of someone being in a contract without being aware of it? Is there any rule or set of rules which will eliminate the problem of one party or the other having a period of uncertainty, if all correspondence is conducted through the mail? If either the offeree or offeror must go through a period of uncertainty, which should it be? Explain why? Illustrate what can the offeror do to avoid this uncertainty? Is the mailbox becoming more important or less important?

3. Under the objective theory of contracts it is possible which one can be in a contract against his/her will. Illustrate what are the advantages of the objective theory of contract formation?