B Com Exam > B Com Notes > E-Commerce > Electronic Records & Digital Signatures - Legal Aspects of E-Commerce
Electronic Records & Digital Signatures - Legal Aspects of E-Commerce | E-Commerce - B Com PDF Download
Introduction: Generally commercial transactions should be in writing and signed by the parties so as to be enforceable by law. These are two requirements which is required to obtain lawful relationship and forms a well-established mode of executing business transactions.
The requirements of signature and writing perform an array of roles. The parties documenting their commercial relationship have an assurance that a permanent record of their transaction has been created which would not be separately changed and would facilitate reproduction so that each party has a copy of the original contract.
Earlier methods of communication of information for executing a commercial transaction have significantly improved. Reports may be in paper form but only to satisfy legal requirements and sometimes information is exchanged without reflecting it on paper. The information available on internet can be used differently and has much more utility than the information that takes paper form.
Meaning of the Electronic Records and Digital Signatures:
The electronic means of communications do not have any tangible medium. Thus, affixing of parties’ signatures on something that is not physical or tangible is not possible. The solution lies in having electronic signatures on an electronic record. Like written signatures such as digital signatures can be used to guarantee that the electronic document, which has been signed by way of electronic signature, has not been altered or tampered with.
This new mode of communication of information has not changed the basic nature of the transaction but only its form. Law has to adapt to these changes and together with the business community has to evolve rules and practices which ensure reliability and validity more than what is traditionally expected from paper based documents.
Difference between digital signature and electronic signature:
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FAQs on Electronic Records & Digital Signatures - Legal Aspects of E-Commerce - E-Commerce - B Com
| 1. What are electronic records and digital signatures in the context of e-commerce? |  |
Ans. Electronic records refer to any information generated, sent, received, or stored in electronic form, such as emails, online forms, or computer-generated documents. Digital signatures, on the other hand, are electronic signatures that use cryptographic techniques to ensure the authenticity, integrity, and non-repudiation of electronic records. They provide a secure way to verify the identity of the sender and ensure the integrity of the transmitted data.
| 2. Are electronic records and digital signatures legally recognized in e-commerce? | |
Ans. Yes, electronic records and digital signatures are legally recognized in many countries, including the United States, under various electronic commerce laws and regulations. These laws provide a legal framework for the use of electronic records and digital signatures, ensuring their validity and enforceability in legal proceedings. However, specific requirements and standards may vary between jurisdictions.
| 3. What legal aspects should businesses consider when using electronic records and digital signatures? | |
Ans. When using electronic records and digital signatures in e-commerce, businesses should consider several legal aspects, including the following:
- Compliance with electronic commerce laws: Businesses must ensure that their use of electronic records and digital signatures complies with the applicable laws and regulations in their jurisdiction.
- Security and authentication: Adequate security measures should be implemented to protect electronic records and verify the authenticity and integrity of digital signatures.
- Consent and acknowledgement: Businesses need to obtain the consent of parties involved in electronic transactions and ensure that they acknowledge the use of electronic records and digital signatures.
- Record retention and accessibility: Businesses should establish policies for the retention and accessibility of electronic records to comply with legal requirements and facilitate dispute resolution.
- Jurisdiction and governing law: Determining the jurisdiction and governing law for e-commerce transactions is essential to clarify the legal framework under which electronic records and digital signatures are used.
| 4. What are the advantages of using electronic records and digital signatures in e-commerce? | |
Ans. The advantages of using electronic records and digital signatures in e-commerce include:
- Efficiency and speed: Electronic records can be created, transmitted, and stored much faster than traditional paper-based records, reducing delays and improving business processes.
- Cost savings: The use of electronic records eliminates the need for physical storage, printing, and postage, resulting in cost savings for businesses.
- Enhanced security: Digital signatures provide a higher level of security and authentication compared to traditional handwritten signatures, reducing the risk of fraud and tampering.
- Global reach: Electronic records and digital signatures enable businesses to engage in cross-border transactions easily, overcoming geographic barriers.
- Environmental benefits: The shift from paper-based to electronic records reduces paper waste and contributes to environmental sustainability.
| 5. What are the challenges and risks associated with electronic records and digital signatures in e-commerce? | |
Ans. Some challenges and risks associated with electronic records and digital signatures in e-commerce include:
- Legal compliance: Businesses need to ensure compliance with various laws and regulations regarding electronic records and digital signatures, which can be complex and subject to change.
- Technological requirements: Implementing and maintaining the necessary technological infrastructure for electronic records and digital signatures can be costly and challenging.
- Security vulnerabilities: Electronic records and digital signatures are susceptible to cyber threats and hacking attempts, requiring robust security measures to safeguard sensitive information.
- Acceptance and trust: Some individuals and organizations may still have reservations about the reliability and authenticity of electronic records and digital signatures, leading to resistance or reluctance to adopt them.
- Data privacy: The collection, storage, and transmission of electronic records raise concerns about data privacy and protection, necessitating adherence to relevant privacy laws and best practices.
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