Electronic Signature in Federal Electronic Signature Act

Notaries are often utilize to verify spots in order to reduce the likelihood of drool in these types of transaction, for example. The fax machine introduced knottyies into the contract process since it became difficult to ascertain who was signing the contract that was being faxed, and many companies plain ref exercised to accept facsimiles for contract purposes. Original signatures were required.

The proliferation of the Internet and the signifi seatt development in globalization led almost inevitably to a need to verify signatures for electronic contracts. Obviously, original signatures could be ill-chosen to send back and forth around the world, particularly when documents trick be exchanged instantaneously on the Internet. It is not surprising, therefore, that companies seek to develop techniques which would make it possible for authorized "signatures" to be accustomed to documents electronically. The challenge came when the business community sought to brace these electronic signatures accepted in courts of law when litigation took place. The Electronic feeling Act of 2000 is one process through which electronic signatures have gained legal standing in the United States (Lew 1).

The Act, known as e-sign, eliminates the requirement that all contracts must be kept or executed on paper in order to be valid. Instead, e-sign makes it acceptable for contracts to be entered into electronically, and for electronic c

Fundamentally, E-Sign answered the question of whether clicking the "I Accept" box on a computer screen constituted a valid signature for contractual purposes: under the Act, it does. Thus many contracts, including simple reference book card purchases, purchase order purchases and many other contracts associated with the weave became much easier to execute on both a subject and international level (Bills 1).

accountCorp, which issues student loans, recently began offering an e-signature selection for these loans based on identity confirmation using assurance bureau information.

Wells Fargo, one of the nation's largest financial institutions, is planning to mathematical function digital certificates associated with Adobe Acrobat PDF documents to conduct electronic commerce. These two applications of electronic contracts move the industry so far farther away from paper-based contracts. Key will use authentication systems that confirm identity from an out-of-door source, while Wells Fargo will use encryption keys that it issues, and which it can revoke (Bills 1).

opies to be retained in most cases rather than paper copies. The legislation does not require that online transactions use electronic contracts; paper contracts are still valid even when transactions are conducted electronically. In addition, the act requires that parties to the contract run that they have access to all appropriate documentation relate to the contract, and that they are agreed to whatever stipulations might be contained in that contract (Lew 1).

Lew, Jacob J. "OMB Guidance on Implementing the Electronic Signatures in orbicular and National Commerce Act." Washington, DC: Office of Management and figure: Sep 25, 2000. Retrieved from http://www.cybercrime.gov/esign.htm 19 Oct 2004.

The Electronic Signatures in globular and National Commerce Act is an attempt for the le
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