AN APPRAISAL OF ENFORCEABILITY OF ONLINE CONTRACT AND ITS LEGAL FRAMEWORK IN NIGERIA
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Information Communication Technology (ICT) has revolutionised the world in many areas including commerce and industry. The internet has brought about a brand new way of buying and selling products and services called e-commerce or online trade. The Internet has introduced some uncertainty into many aspects of commercial transactions conducted via electronic means, such as in the areas of the formation of enforceable electronic contracts, jurisdiction, and statutory issues relating to evidence and signature requirements. A number of countries around the world including Nigeria have introduced legislation that enables an electronic or digital signature in order to satisfy legal formalities that require a signature to be provided in an electronic transaction or a document.
This paper examines the basic notions of the law of contract as it applies to online business transactions. It finds that online contracts must be held to the same standards as other written paper documents; and that the basis of every contract which is a mutual agreement between the parties enforceable by law is present in online contracts. It concludes that the essentials of traditional contract such as offer, acceptance, consideration, intention to create legal relations, and terms of contract, should also apply to online contract as they do to traditional contract with little variations peculiar to cyberspace.
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