If that laptop is cheap, then it will do all of the things laptops usually do, but I would prefer a more organic wireless capability and a larger screen.
Biggest bugbear with laptops is battery life, which devolves to what you really want it for. My own Acer and many other laptops are meant to be "Desktop replacements" which usually means a horsing great processor and a battery life of maybe less than one hour. These things are very good - if you can use mains power, or the central heating is on the blink. (When you see the heat they throw out, you will understand that short battery life a lot better) They are hopeless if you need a PC that runs away from base on batteries. On the other hand, a notebook that is optimised for true mobile use away from power, a slower processor that chucks out less heat, will get you doing laptop things for hours on end. Get this wrong and without wishing to over dramatise, but you have wasted a large wad of the folding stuff.
Looking over the specs is easy, but you will get the most bang per buck, in writing down your requirements and working from them.
Let us know if we can help.
Conan