E contract

Slides on E contract

1. E-contract E-contract is any kind of contract formed in the course of e-commerce by the interaction of two or more individuals using electronic means, such as e-mail , internet, the interaction of an individual with an electronic agent, such as a computer program, or the interaction of at least two electronic agents that are programmed to recognize the existence of a contract. The Uniform Computer Information Transactions Act provides rules regarding the formation, governance, and basic terms of an e-contract.

2. Cont.. In electronic markets , business transaction can be carried out without the business partners ever coming into physical contact with one other. At the same time suitable software system must be used to record the mutual agreement between the market , participant over the exchange of goods or services to facilitate the signing of contract in a legally binding manner. To making a e-contract we have to follow.. Valid recording of the negotiating positions. Agreement of rights and obligations Legal conclusion of a contract with digital signature. Monitoring the fulfillment of the term of contract.

3. Cont… Processes available for forming electronic contracts include: E-mail: Offers and acceptances can be exchanged entirely by e-mail, or can be collective with paper documents, faxes, telephonic discussions etc. Web Site Forms: The seller can offer goods or services (e.g. air tickets, software etc.) through his website. The customer places an order by completing and communicating the order form provided on the website. The goods may be actually delivered later (e.g. in case of clothes, music CDs etc.) or be directly delivered electronically (e.g. e-tickets, software, mp3 etc.) Online Agreements: Users may need to take an online agreement in order to be able to avail of the services e.g. clicking on “I accept” while connecting software or clicking on “I agree” while signing up for an email account.

4. TYPES OF ELECTRONIC CONTRACTS Employment Contracts: The Information Technology is determined by manpower in Nepal context and thus employment contracts are vital. With a high difficult rate as well as the confidentiality involved in the work employment contracts become crucial. Apart from that Nepalese Labour practices are based on tough Labour laws and not the hire and fire processes. A Shrink Wrap contract is the former license agreement required upon the buyer when he buys software. Before he or she tears the pack to use it, he or she is made mindful by tearing the cover or the wrap that they are sure by the license agreement of the manufacture. This is done as previous deliberated to protect the interests of the manufacturer where the consumer cannot replicate the package, copy it or sell it or donate it to others moving the sale of the software

5. Cont.. Source Code Agreements In software development many principal firms who participate in development are keen to watch the source code of the software, which is the most appreciated and cautious part of the computer programmed. Copyright owners of such source code may have to disclose this to countless developers who will be developing definite software based on the source code. In these conditions, the copyright owner will credit the source code to specified source code escrow agents who will release the code on the development of the product upon agreed terms. In cyber contracts, such agreements and also the terms and conditions to contract with the escrow agents becomes vital

6. Business phases of contracting process Information phases: In the information phases business partners inform themselves about about market solution ,potential partners, products, services, prices and future condition. Intention phase: While in the information phase information is provided in an unstructured way and in a way which is not legally binding in the intention phase offers and invitation for treads are presented in an structured way. The common mean to express offers with in electronic market is electronic product catalogs , which usually contain short reference about product.

7. Cont.. Agreement phase: The agreement phase aims it establishing of contract. This phase starts with the offer of one of the potential contract partners from created in the previous phase and ends with the acceptance of this offer. Settlement phase: In the settlement phase the contract parties fulfill the liabilities they accepted in the contract. This phase ends with the contract performs.

8. Essentials of an e-contract There has to be an intension to create legal relations. The parties must be competent to contract. There must be free and genuine approval The object of the contract must be lawful. There must be possibility of performs. The offers need to accepted.

9. Legal affairs Each stage of the e-contracting process give rise to a number of legal issues. On fundamental level, a contract is an agreement between parties that a court will in force. And electronic contract may simply be described as a contract that has been formed throw the use of electronic communication. Under the general law , each of the following five basic elements must be present before a code will enforce a contract. They are an offer, acceptance of a offer, certainty, intention and cosideration .

10. Legal effect of an e-contract Basic legal conditions for using electronic information and communication servic es have existed for some time now. The most important of these lows and regulations concerns the following areas: Data protection and security: Data protection means the protection of personal data from incorrect use. In contrast data security is the protection of data from loss and unauthorized use. Copy rights: Dealing with digital goods requires adjusting and extending appropriate bills relating to copyright protection.

11. Cont.. Right to domain name and trade mark law: Each computer connect to the internet possesses a specific number. In addition , a specific name can be assigned to computer to identify it. Digital signature: signature laws regulate how the allocation of private and public keys and the issuance of the certificates are organized. In the simple word A signature is generally understood as evidence that the signatory approves of a document’s contents.  But does this ring true also for a person’s name printed on a telex or fax, or reproduced in electronic mail?

12. Contd.. International advertising guidelines: the international chamber of commerce in paris has developed guidelines concerning online advertising. The points of this is that every provider must reveal its identity to internet user.