E - Contracts and Indian Regulations

 Essay about E -- Contracts and Indian Laws

Electronic agreements & the Indian legislation

This record is an extract through the book E-commerce - Legal Issues authored by Rohas Nagpal. This book can be bought as courseware for the

Diploma in Cyber Legislation and PG Program in Cyber Law done by Oriental School of Cyber Laws


E-commerce - Legalities

4. Electronic Contracts

Legal agreements have become so common in daily life that most of that time period we do not also realize that we now have entered into 1. Right from hiring a taxi to buying airline tickets online, innumerable points in our daily lives are governed by legal agreements.

The Of india Contract Work, 1872 governs the manner in which contracts are produced and carried out in India. It governs the way in which the provisions in a contract happen to be implemented and codifies the result of a breach of contractual provisions.

In the framework from the Act, get-togethers are free to contract upon any terms they choose. Indian Deal Act includes limiting factors subject to which contract might be entered into, performed and breach enforced.

That only gives a framework of rules and regulations which will govern development and performance of contract. The rights and duties of parties and terms of agreement are decided by contracting functions themselves. The court of law acts to put in force agreement, in case of non-performance.

Digital contracts (contracts that are not paper based but rather in electronic form) are given birth to out of the need for speed, ease and effectiveness.

Imagine a contract that an Of india exporter and an American importer wish to get into. One alternative would be the particular one party 1st draws up two clones of the agreement, signs all of them and couriers them to the other, who have in turn indicators both copies and couriers one replicate back. The other alternative is that the two parties satisfy somewhere and sign the contract.

In the electronic age group, the whole deal can be completed in seconds, with parties merely affixing all their digital autographs to an electronic copy from the contract. It is not necessary for delayed couriers and extra travelling costs in such a situation.

There was in the beginning an stress amongst the legislatures to recognize this modern technology, great many countries have passed laws to identify electronic contracts.

The conventional legislation relating to legal agreements is certainly not sufficient to deal with all the problems that arise in electronic contracts. The Information Technology Act (IT Act) solves some of the distinct issues that occur in the formation and authentication of digital contracts.

- 72 -- 2008 Rohas Nagpal. Most rights reserved.

Ecommerce -- Legal Issues

4. 1 Essentials of an electronic digital contract

Just as every other contract, an electronic agreement also needs the following necessary ingredients:

1 . An offer should be made

In several transactions (whether online or perhaps conventional) the offer can be not built directly one-on-one. The consumer ‘browses' the obtainable goods and services exhibited on the merchant's website and after that chooses what he would want to purchase.

The offer is definitely not made by website displaying the items available for sale at a specific price. This is really an invites to offer and therefore is revocable at any time up to the time of popularity. The present is made by the customer upon placing the items in the online ‘basket' or perhaps ‘shopping cart' for payment.

2 . The offer has to be accepted

As stated earlier, the acceptance is generally undertaken by business following your offer continues to be made by the consumer in relation with all the invitation to provide. An offer is revocable at any time until the approval is made.

Methods available for creating electronic contracts include:

1 . E-mail: Provides and acceptances can be exchanged entirely simply by e-mail, or can be coupled with paper documents, faxes, telephonic discussions etc .

2 . Website Forms: The vendor can offer goods or services (e. g. air seats,...