The main reason that the National Conference of Commissioners on Uniform State Laws created the Uniform Electronic Transactions Act in July 1999 was to legitimize electronic contracts, because it recognizes that general contract law rules and principles apply to transactions that are conducted electronically.

a. True

b. False

Question

Social Studies

Isabell Burnett

16 May, 01:17

The main reason that the National Conference of Commissioners on Uniform State Laws created the Uniform Electronic Transactions Act in July 1999 was to legitimize electronic contracts, because it recognizes that general contract law rules and principles apply to transactions that are conducted electronically.

a. True

b. False

+1

Answers (1)

Know the Answer?

Alena Hanson · Answer 1

True

Explanation:

The general rules applying to contract law apply to electronically conducted contracts because nothing has changed except the mode of communication as well the increased speed with which transactions are consumated.

Electronic contracts would make use of digitally verifiable signatures of parties involved while traditional approach would require both parties to append their signatures with pen, hence the intended purpose of entering into the contracts in the first place remains the same.