Internet-Based Contracting Issues Presentation

Introduction

Great Buys isn’t sure it has a binding contract with its customers because the contract is completely online and in electronic format. Customers have argued they are not bound to the online contract because there’s no handwritten “pen and ink” signature.Great Buys also wants to know if any international laws will apply when the company starts selling its electronic products internationally.Great Buys has been sued in different state courts all over the country, and it would like to know if an arbitration clause requiring that arbitration be conducted in New York City will be enforceable. Finally, Great Buys wants one or two suggestions for improving its internal business procedures so that customer product complaints don’t turn into contract-related claims or lawsuits.   Conclusion and References

What is a binding contract

Business Dictionary.com website defines a binding contract as: “ An agreement in writing between two or more individuals or entities in which a court can impose penalties in the event one party attempts to negate on his or her promise as set forth in the signed document(2018). Great buys internet company needs to understand what a binding contract meaning is in order to address their Internet based contracting issues. For example, Great Buys can be sued for breach of contract that could result in lawsuit against Company for not honoring the agreed and signed contract.

Great buys online binding contracts for their online customers

DocuSign electronic signatureElectronic signatureClick to Agree Contract

Customers have argued they are not bound to the online contract because there’s no handwritten “pen and ink” signature

Most contracts must contained to elements:-All parties must concur about a propose made by one individual(s) and accepted by the other.-Something of worth and or profit must be trade for something else of value. Examples are: services, goods, cash and or a promise to exchange this items.Electronic contracts and electronic signatures are just as legal and enforceable as traditional paper contracts signed in ink. Federal legislation enacted in 2000, known as the Electronic Signatures in Global and International Commerce Act.

Great Buys also wants to know if any international laws will apply when the company starts selling its electronic products internationally.

There is currently no international law of the Internet. Although U.S. law may make certain Internet activities illegal, these laws do not reach Internet sources located outside of the United States. Many Internet frauds are conducted over the Internet by persons located in other countries, beyond the reach of U.S. criminal laws.

Great Buys has been sued in different state courts all over the country, and it would like to know if an arbitration clause requiring that arbitration be conducted in New York City will be enforceable

An arbitration agreement requires the parties to settle the dispute by using a neutral third party without resorting to court action.The FAA (Federal Arbitration Act) has a strong policy enforcing arbitration clauses.Article 75 of the New York Civil Practice Law states that “ A written agreement to submit any controversy thereafter arising or any existing controversy to arbitration is enforceable without regard to the justiciable character of the controversy and confers jurisdiction on the courts of the state to enforce it and enter judgment on an award.”

Finally, Great Buys wants one or two suggestions for improving its internal business procedures so that customer product complaints don’t turn into contract-related claims or lawsuits. 

Present the product with its intended use.Specifications of the limits of the product. Specifically state all warranties.

In Conclusion, Great Buys Needs to do the following to their Online Contracting Process:

Great Buys needs to present a fine print of legal terms with their product.Great Buys should incorporate a terms and conditions page specifying all information regarding the product being sold. Great Buys needs to frequently update their terms and conditions and policy’s page to protect the company.

REFERENCES

Beesley, Caron. (2016). Contract Law-How to Create a Legally Binding Contract. Retrieved from http://www.sba.gov/blogs/contract-law-how-create-legally-binding-contractBusiness Dictionary. (2018). binding contract. Retrieved from http://www.businessdictionary.com/definition/binding-contract.htmlCheeseman, H. (2015). Contemporary business law (8th ed.). Upper Saddle River, NJ: Pearson Education, Inc.

References

Cornell Law School. (1992).15 U.S. Code Chapter 96-Electronic Signatures in Global and National Commerce. Retrieved from https://www.law.cornell.edu/uscode/text/15/chapter-96

Reference

Find Law. (2018).Things To Consider Before Including An Arbitration Clause In Your Contract. Retrieved from https://corporate.findlaw.com/human-resources/things-to-consider-before-including-an-arbitration-clause-in-your.html

REFERENCES

Nielsen, T. (2015). Setting out good terms and conditions for your small business. Retrieved from https://www.google.com/amp/s/amp.theguardian.com/small-business-network/2013/feb/06/terms-and-conditions-small-businessNolo.(2018).Electronic Signatures and Online Contracts. Retrieved from https://www.nolo.com/legal-encyclopedia/electronic-signatures-online-contracts-29495.html