Unlock the Power of Digital Signature Lawfulness for Real Estate in the United States

How to eSign a document: digital signature lawfulness for Real Estate in United States

contracts have long been a highly contentious issue in the world of business law even before the world of electronic Commerce came to be people had major disputes about contract law electronic Commerce has only served to raise new and important issues about the way in which we handle contracts today we are going to examine three aspects forming contracts online electronic signatures and the uniform electronic transactions Act let's begin with forming contracts online the problems of regular contracts are in some way similar to those of electronic contracts these are mostly concerned with the terms of a contract and whether both parties have agreed to enter into a contract online contracts can be made for sale of goods and services as well as for licensing agreements licensing agreements contracts usually involve the right to use software rather than ownership of software sellers online can also initiate contract contct s in order to protect themselves they usually do so by clearing clearly spelling out the terms in order to protect themselves in these cases the offeror controls the offer and the subsequent contract online contract acceptance involves two methods click to accept in which case the offer completes an action to accept also browse wrap items which do not require a specific action to accept this method is far more susceptible to Legal challenge contracts online are accepted through the use of electronic signatures electronic signatures are defined as an electronic sound symbol or process attached to or logically associated with the with a record and executed with intent to sign the record these include digital signatures names at the end of emails and clicks on a web page if the click includes identification of the person e signatures fall into two categories digitized handwritten signatures and digital signatures based on a public key infrastructure a digital signature is a picture of a handwritten signature a public key signature is an encrypted key comprised of a private signing key and a public validation key the signer uses the private key to endorse an electronic document although e signature laws vary from state to state the instituted eign act in 2000 this applies to some types of eents but not all the eign ACT refers explicitly to the uniform electronic transactions act the final section that we will cover today is the uniform electronic transactions act this is one of the first real efforts to remove e-commerce barriers by introducing uniform laws the goal is to give the same legal effect to electronic records and signatures as to regular records and signatures this act defines electronic signatures as an electronic sound symbol or process attached and associ iated with a record with the intent to sign the record a record is defined as information inscribed on a tangible medium or stored in a retrievable electronic form the UA does not apply to all electronic signatures only those relating to a transaction and includes exclusionary Clauses limiting its application to other areas of law in closing today we've covered electronic contract issues such as forming contracts online electronic signatures and a uniform elect iic transactions act thank you for taking the time to watch our video today