Electronic contracts are gradually being widely applied and become an optimal method in electronic transactions. However, there are still many people who still wonder about the legality of this type of contract. Within the framework of this article, EFY Vietnam will summarize the laws and regulations related to E-Contracts. Follow the article below to know more!
1. Legality of electronic contracts
UNCITRAL (United Nations Commission on International Trade Law) Model Law on Electronic Commerce 1996 (amended 1998):
– The term “data message” – an important element in the conclusion of an electronic contract, Article 2.a: “Data message” means information created, sent, received and stored by electronic, photoelectric or similar means, including but not limited to electronic data interchange (EDI), electronic mail, telegram, telex and telefax”.
– Recognition of the legal value of data messages (Article 5)
– Recognition of the legal value of electronic signatures (Article 7).
– Recognition of values such as text, original value, evidence value and retention of data messages (Article 6, Article 8, Article 9 and Article 10).
– Regulations on the originator’s ownership rights to data messages (Article 13).
– Regulations on the time and place of sending and receiving data messages (Article 15).
– Regulations on the formation and validity of electronic contracts: “Within the framework of contract formation, unless otherwise agreed by the parties, an offer and acceptance of an offer may be expressed by convenient data messages. When a data message is used in the formation of a contract, the validity and enforceability of that contract cannot be denied solely on the grounds that a data message has been used for its intended that purpose.” (Article 11).