Electronic Contracting

Businesses and individuals throughout the world are discovering and exploring the Internet. People who have never met each other, and probably never will, are socializing, communicating and exchanging reading through Bulletin Boards and Chat Rooms on the profit and on-line services. Some businesses are exploitation the Internet to strain to improve distribution channels and avoid competition for ledge space in retail locations. Still others are using the Net as an informational and communication tool for mass advertising, merchandising and improving customer relations. Since the Internet is worldwide, vendors will have the luck for international business earlier than ever before. A major(ip) long term impact of electronic assure is the ruination of labor costs. There no longer assumes to be a laboring department of any sort if electronic contracting is incorporated in the nations business.

        A major invalidating outcome of electronic contracting would be misinterpretations. electronic contracting generally is not a common part of effortless life in the United States. Consumers would inevitably find themselves sign contracts online but they would not really come into terms with the sincerity of the situation since most Americans are used to physically sign language contracts and agreements. Another unfavorable outcome which would raise questions would be the requirements that received contracts be in writing and signed. Some questions would be: Are online contracts in writing?



What would constitute the signature?

        Electronic contracting is an important stepping stone for the future of E-commerce. Even though there still are certain questions with no react in regards to electronic contracting, businesses whether small or large need electronic contracting for success in the demanding world of E-commerce of today.

        

Resources:

www.odmb.com: retrieved on October 22, 2004

Cheeseman, H.R, (2003). Contemporary Business & E-Commerce Law. Upper Saddle River, NJ, scholar Hall

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