E-contract and its applicability
Traditional concept of contract provides the foundations to all types of valid and enforceable contract, keeping in view the meanings of definition of contract as, ‘all agreements are contracts if they are made by the free assent of parties competent to contract, for a lawful consideration and with a lawful object and are not thereby expressly declared to be void’ the term contract would include invitation to tender and instruction to renderers, ‘tender, and acceptance thereof.
An electronic contract is an agreement created and "signed" in electronic form -- in other words, no paper or other hard copies are used. For example, you write a contract on your computer and email it to a business associate, and the business associate emails it back with an electronic signature indicating acceptance. An e-contract can also be in the form of a "Click to Agree" contract, commonly used with downloaded software: The user clicks an "I Agree" button on a page containing the terms of the software license before the transaction can be completed.
The United Nations General Assembly Resolution No. A/ RES/51/ 162, dated 30th January 1997, Chapter III and specifically Article 11 sets about the formation and validity of E-contract.
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