Digital signatures and their acceptance by the law has made the mundane paper contracts now digital, These econtracts acquired legal sanctity due to digital signature infrastructure and the acceptance & validity in major countries.
E-contract is a contract modeled, specified, executed and deployed by a software system. econtracts are conceptually very similar to traditional (paper based) commercial contracts. Vendors present their products, prices and terms to prospective buyers. Buyers consider their options, negotiate prices and terms (where possible), place orders and make payments. Then, the vendors deliver the purchased products.
Nevertheless, because of the ways in which it differs from traditional commerce, electronic commerce raises some new and interesting technical and legal challenges.
For recognition of e-contracts following questions are needed to be considered:
Whether e-contract is a valid contract?
Would a supplier making details of goods and services with prices available on a website be deemed to have made an offer?
Whether e-contracts satisfy the legal requirements of reduction of agreements to signed documents.
Whether e-contracts interpret, adopt and compile the other existing legal standards in the context of electronic transactions?
Cyber Law Consulting helps its clients in drafting of econtracts, terms of usage, disclaimers, Escrow agreements, STPI agreements, consultancy agreements,software services agreements,
domain name transfer agreements, trademark and copyright license agreements, confidentiality agreements, technology transfer and franchising agreements.
Cyber Law Consulting also helps in future course of law in case of dispute arising out of econtracts via arbitration or by litigation.