Indian Contract and E-Contract Act
Introduction
Indian Contract
One important piece of law that controls agreements and contracts in India is the Indian Contract Act, 1872. It describes the rules that govern the creation, performance, and enforcement of contracts. Among the fundamental ideas and components this Act addresses are the following:
1. Offer and Acceptance: The Act outlines the requirements for a legitimate offer and the procedures for accepting it to create a contract.
2. Consideration: It requires that something of value be exchanged between parties in order for a contract to be valid.
3. Capacity: The Act outlines the parties’ ability to engage into contracts, disqualifying some people based on things like mental illness or minority.
4. Legality: Agreements ought to have a legitimate aim and purpose. Contracts that violate the law or the public interest are null and invalid.
5. Free assent: It highlights the significance of the parties’ free and sincere assent, guaranteeing they are not the victims of fraud, coercion, or pressure.
6. Guarantee and Executability: Agreements need to be certain and able to be executed. Uncertain or impractical agreements are unenforceable.
7. Enforceability and Remedies: The Act lists damages and specific performance as viable remedies in the event of a violation of contract.
Contracts that are invalid and those that are voidable are distinguished from one another. A void contract is completely unenforceable, but a voidable contract can be terminated at any time by either party.
8.Contingent Contracts: The Act addresses contracts whose fulfillment is contingent upon the happening or not of a particular event.
E-Contract Act
An agreement that is legally binding is referred to as a “contract.” It’s interesting to note that, in the instance of an E-Contract, Section 2(h) is upheld in its entirety with just a minor modification to the manner the Contract is created.
Therefore, an E-Contract is a legally binding contract that is entirely created, negotiated, and executed online. E-contracts are entirely digital, in contrast to traditional contracts, which are printed on paper. Even when the parties to an E-Contract do not physically meet, there is unquestionably a meeting of the minds. The parties exchange messages with one another via telephone or the internet.
The Indian Evidence Act of 1872, Section 65 B, strengthens the legality of electronic contracts. According to Section 65 B, information found in an electronic record that is printed on paper, stored, recorded, or copied on optical or magnetic media created by a computer is considered a document when the requirements outlined in this section are met. In this case, the document will be admissible as evidence without the need for additional proof or the production of the original.
Kinds of E-Contract
E-contracts are unique to the type of company. Depending on how the firm is structured, there are several kinds of E-Contracts that are completed. An E-Contract is created by combining traditional contracts with technological expertise. Here are some examples of the most typical E-Contract types:
1. Agreements for Shrink Wrapping
2. Click-Wrap Contracts
3. Examine the Wrapped Agreements
4. Scroll Wrap Consent Forms
5. Sign-In Wrap-Up Contracts
References:
1. Avtar Singh’s Law of Contract and Specific Relief.
2. The Indian Contract Act.
Author: Trisha Chatterjee, a Student of Bharati Vidyapeeth, New Law College, Pune
