Are E-contracts for sale of goods are legal and secure to recover money in india
4 years ago
I am a businessman, i sell goods on credit. I want a more secure and legal way to recover my money. Can i use E-contracts ( electronic contracts or agreements ) when selling goods to easily recover my money in future. In this, my employee can also take digital signature of the buyer. I wish to know, is this way 100% legal and 101% secure in india to easily recover money. Plus give some tips.
A.Dear Sir,
The answer to your question both yes and no. The said contracts are binding and legally enforceable. But those are civil nature of contracts and require 3-4 years time to get a civil decree. Instead you may take advance cheque as security then you can easily recover. Please give me Rank 5 if you feel my answer helped
The answer to your question both yes and no. The said contracts are binding and legally enforceable. But those are civil nature of contracts and require 3-4 years time to get a civil decree. Instead you may take advance cheque as security then you can easily recover. Please give me Rank 5 if you feel my answer helped
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A.Hi
E-Contracts have been recognised as valid contracts since the year 2005 in India.
In order to enforce E-contracts, you should
1) E-contract should clearly specify the full name and address along with business entity registration details of buyer. The offer should be made as an annexure to mail in a PDF Format (so that contents of offer cannot be changed)
2) Every E-contract should be identifiable by a separate, unique ID.
3) The buyer should expressly state and accept the terms of offer made by seller ( a specific mail from buyer to seller accepting the terms of offer should be sent from buyer mail ID to seller mail ID) and subject of the mail should contain the Unique ID of e-contract.
4) Digital signature if available with the buyer can be affixed to offer acceptance .
5) Some clients are using check boxes to be ticked by buyer for quantity, quality and price of goods to be supplied by seller .
6) Mails sent through outlook or any other email exchange server(easily retrievable at any point of time) are preferred.
Hope this information is useful.
E-Contracts have been recognised as valid contracts since the year 2005 in India.
In order to enforce E-contracts, you should
1) E-contract should clearly specify the full name and address along with business entity registration details of buyer. The offer should be made as an annexure to mail in a PDF Format (so that contents of offer cannot be changed)
2) Every E-contract should be identifiable by a separate, unique ID.
3) The buyer should expressly state and accept the terms of offer made by seller ( a specific mail from buyer to seller accepting the terms of offer should be sent from buyer mail ID to seller mail ID) and subject of the mail should contain the Unique ID of e-contract.
4) Digital signature if available with the buyer can be affixed to offer acceptance .
5) Some clients are using check boxes to be ticked by buyer for quantity, quality and price of goods to be supplied by seller .
6) Mails sent through outlook or any other email exchange server(easily retrievable at any point of time) are preferred.
Hope this information is useful.
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Sidhaarth
Responded 4 years ago
A.Yes, e-contracts are valid and enforceable in India. So in case of violation you can proceed to recover the defaulted amount. Incorporate essential clauses in the contract.
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Ayantika Mondal @ Prime Legal
Responded 4 years ago
A.Hi,
There are 2 kind of E- contract and description is left up to the court to take it under consideration or not, hence for financial / recovery related issues, it is advised to consult in brief with a lawyer and frame a good SoP.
There are 2 kind of E- contract and description is left up to the court to take it under consideration or not, hence for financial / recovery related issues, it is advised to consult in brief with a lawyer and frame a good SoP.
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Suneel Moudgil
Responded 4 years ago
A.Under the provisions of the Information Technology Act, 2000 particularly Section 10-A, an electronic contract is valid and enforceable.
The only essential requirement to validate an electronic contract is compliance with the necessary pre-requisites provided under the Indian Contract Act, 1872, which are (a) Offer and Unconditional Acceptance, (b) Lawful Purpose and Consideration, (c) Capacity of Parties and Free Consent
The only essential requirement to validate an electronic contract is compliance with the necessary pre-requisites provided under the Indian Contract Act, 1872, which are (a) Offer and Unconditional Acceptance, (b) Lawful Purpose and Consideration, (c) Capacity of Parties and Free Consent
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