Electronic or e-contracts

Electronic or e-contract is the result of advances made in science and technology. It refers to contracts that are not proper or parchment based but in the digital or electronic format. It is a contract formed in the course of e-commerce by the interaction of two or more parties using electronic means, including but not limited to email, interaction with electronic agents such as computer programmes and interest based agreements. Electronic Contracts are also covered by the provisions of the Contract Act, 1872, and hence the concepts of offer and acceptance, free consent and consideration will be applicable. In addition, e-contracts are also governed by the provisions of the Information Technology Act, 2000. The conventional law relating to contracts is not sufficient to address all the issues, The Information Technology Act solves some of the peculiar issues that arise in the formation and authentication of electronic contracts.