ONLINE CONTRACTS & E COMMERCE
Briefly discuss the relationship between E-contracts and E-commerce.
E-contracts and e-commerce are closely related concepts, and both revolve around the use of electronic technologies to facilitate agreements and transactions in the modern world.
• E-Contracts (Electronic Contracts):-
Contractual agreements that are formed and executed electronically without the need for physical paper documents or face-to-face interactions
Just like traditional contracts, these contracts are legally binding and enforceable.
E-contracts comply with all the essential elements as mentioned under Section 10 of the Indian Contract Act, such as offer, acceptance, intention to create a legal relationship, free consent, competent parties, lawful consideration, and lawful object.
• E-Commerce (Electronic Commerce):-
The activity of conducting commercial transactions, including buying and selling goods or services over the Internet or open networks.
E-commerce platforms such as Amazon, Flipkart, etc. provide a digital marketplace where sellers and buyers can interact, buy & sell products, and exchange information.
Thus, E-contracts play a critical role in facilitating e-commerce transactions such as the checkout process, understanding the terms & conditions of the E-commerce websites and providing a legal framework in case of disputes and E-commerce relies on e-contracts to formalize and govern online transactions.
