PART 2 PURPOSE: The purpose of this assignment is to test the students on their

Question

PART 2 PURPOSE: The purpose of this assignment is to test the students on their ability to apply the principles of contract to electronic commerce. REQUIREMENT: Although the Contracts Act 1950 does not state any direct reference to electronic commerce (electronic trade transactions), yet the principles of contract are still applicable to the latter However, the nature of e-commerce would make it quite confusing to apply the principles governing the communication of offer and acceptance. Students are required to look into this issue and analyse it.

Explanation / Answer

Electronic trade ("online business") includes the purchasing, offering or trading of merchandise, administrations, and data through electronic systems. Web based business has three fundamental structures: business-to-business exchanges (B2B), business-to-buyer exchanges (B2C), and purchaser to-customer exchanges (C2C). There are a few unique types of electronic contracts, most generally, "Snap Wrap" or "Web-Wrap" contacts are electronic contacts that require the client to look through terms and conditions (or different website pages on a site) and to explicitly affirm the client's consent to the terms and conditions by making some move, for example, tapping on a catch that states "I Accept" or "I Agree" or some comparative articulation preceding having the capacity to finish the exchange. Snap Wrap contracts are frequently found in programming items or on Web locales. "Peruse Wrap" contracts are terms and states of utilization that to don't require the express assentation of a client. They are regularly situated in programming or are posted on a Web webpage and may put forth some expression that shows utilization of the product or Web website constitutes the client's consent to the terms.

A contract under Contracts Act 1950 refers to any agreement that is enforceable by law. Usually most of the ecommerce activity and service are enforceable by court of law. The electronic contracts can be e-mail contracts or web based contracts. However any and every promise done on such contracts are legally binding and need proper legal permission, in case to unbind the terms of the agreement. A promise made by the seller to the buyer needs to be addressed with full honesty and rightful capability.

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