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Use of Contracts Transactions in E-commerce - Assignment Example

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The paper "Use of Contracts Transactions in E-commerce " states that when a transaction is initiated online, both the seller and buyer should know that they are bound by rules, and any attempt to go against the agreements therein can culminate into a lawsuit…
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Use of Contracts Transactions in E-commerce
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Download file to see previous pages Some of the laws that are used in general market situations, face to face, should also be applicable to e-commerce.
Several conferences have been held during the past decade to brainstorm on possible challenges and solution presented by e-commerce. Many jurisdictions have continued to address the emerging challenges through various methods. Some jurisdictions have already formulated formidable legislations, while others are still lagging behind. New legislation that is being formulated are often related or attached to common laws that guide local and international business transactions. Several global organizations have also responded to the call to have checked on e-commerce. Organizations such as International Chamber of Commerce (ICC) and United Nations Commission on International Trade Law (UNCITRAL) also have imparted the online business transactions through provision of contractual terms and modelling legal provisions that can be adopted by all countries while drafting their own laws, also they can be used by various players during formulation of contract terms (Electronic privacy information centre and junkbuster, 2002).
Transactions conducted over the internet should only happen there is an agreement between the seller and the buyer; this is either through an implied or expressed contractual agreement. Traders should always remember that the law still applies even when their transactions are done exclusively online.
Traditionally, negotiated contracts are made by persons that know each other well to understand the gender, mental capacity and age group of the other party. However, this is not the case with online transactions. Unlike the traditional transactions where a seller can evaluate the age and gender of the buyer without necessarily asking, it is easy to be deceived by online buyers. Underage individuals can easily buy items that are only limited to adults by providing wrong information during sign up. Transgender items can also be accessed by the unintended users if they provide false information about their genders. ...Download file to see next pagesRead More
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