Much of today's business is conducted via e-mail, and it's possible to bind yourself to a contract through e-mail, either deliberately or inadvertently. If an e-mail or chain of e-mails clearly states an offer for entering into a deal with all of the material terms and the other side responds by e-mail accepting the terms, then there's a good chance that a valid contract has been formed — even though no signatures have been exchanged. So be careful. If all you intend is to negotiate the issues leading to a formal written and signed contract accepted by both parties, make sure you say that in your e-mails. In addition, in June 2000, President Clinton signed the Electronic Signatures in Global and National Commerce Act , which set a single national standard for using electronic signatures in contracts and other legal agreements. The law allows businesses to send copies of signed documents electronically and to store archived copies of these documents in electronic form. Although there are certain
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This note was uploaded on 06/21/2011 for the course FICT 20403 taught by Professor Atty during the Spring '11 term at Limkokwing University of Creative Technology.