The Electronic Transactions Act 1999

2079 Words Sep 23rd, 2016 9 Pages
The world is constantly changing. With the rise of technology, rises the need of a legal framework to permit electronic transactions. This charter being the Electronic Transactions Act 1999. This act allows contracts to be made electronically. Traditionally Contracts were made by paper, but technologic advance means they can now be electronic. The steps are still relatively the same across both formats. Both traditional and electronic contracts must satisfy all the necessary elements for it to be legally binding, such as offer and acceptance. If an element is missing than a contract will not exist. The formation of a contract, begins with an offer, it is important to distinguish offers from invitation to treats such as advertisements. Once an offer is made and it is accepted, then a contract forms. If mistaken, it can be withdrawn from before acceptance is received or by seeking further legal assistance and disputing that you did not intend to be in a contract. If all the steps are followed than a contract forms, electronic contracts are similar to traditional methods, but contain slight differences and risks.

A contract is a legally enforceable agreement between two parties. For a contract to exist, it must contain all of the necessary elements such as, offer, acceptance, consideration, intention and capacity. If one element is missing then, a contract does not exist, and it is merely a simple agreement between two parties thus not legally binding. The legal dispute of…
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