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What is the E-sign Act?
The Electronic Signatures in Global and National Commerce Act (E-sign Act) enables businesses and individuals to sign contracts and documents digitally. The E-sign removes the need to sign a paper contract for the agreement to be enforceable. E-sign is officially known as The Electronic Signatures in Global and National Commerce Act.
Back To: COMMERCIAL LAW: CONTRACTS, PAYMENTS, SECURITY INTERESTS, & BANKRUPTCY
How Does the E-Sign Act Work?
The E-sign Act was signed into law by President Bill Clinton in June of 2000. It has been in effect since that time. Prior to passage of the E-sign Act, many business were reluctant to handle online transactions over concerns about the legitimacy or legal enforceability of such contracts. The E-sign Act confirmed that individuals can sue each other in the event of breach or noncompliance with the terms of electronically-executed contracts. The E-sign Act avoided negative consequences associated with the inconsistencies between state laws. Many states have their own regulations for electronic signature. Many states have adopted the Uniform Electronic Transactions Act (UETA) in whole or part. The E-Sign Act exempts the following types of legal documents from coverage: Wills, and trusts Adoption paperwork Decree relating to divorce etc. Some Articles of the Uniform Commercial Code Judicial orders and notices Official court documents Termination notices to utility services. As such, state law solely controls electronic signatures on these documents.
Requirement that Electronic Contracts be in Writing?
Related Topics
- What is a Contract?
- Contract Theory Definition
- Meeting of the Minds
- Doctrine of Utmost Good Faith
- Aleatory Contract Definition
- What are the sources of contract law?
- Restatement of Contracts
- Uniform Commercial Code
- Convention on Contracts for the International Sale of Goods (CISG)
- What is a Unilateral Contract vs a Bilateral Contract?
- What is an Express Contract vs an Implied Contract?
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- What is an Enforceable Contract vs. a Valid Contract?
- What is a Void Contract vs a Voidable Contract?
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- When does an offer to contact terminate?
- Counterparty Definition
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- Rule for Sale of Goods
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- What is Promissory Estoppel?
- When is a contract required to be in writing Statute of Frauds?
- What type of writing satisfies the statute of frauds?
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- E-Sign Act
- Privity of Contract
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- What is assignment and delegation of a contract?
- When is a party's Duty of performance?
- Aleatory Contract
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- Force Majeure Clause
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- Assumpsit
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- How to Read the Contract
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- Addendum
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