Mayank Gupta, LL.M, Amity University, Noida, India
ABSTRACT
In today's increasingly digital world, electronic contracts (e-contracts) have become ubiquitous in commercial transactions, offering convenience, efficiency, and cost savings. This paper presents a comprehensive analysis of e-contracts, examining their legal, technological, and socioeconomic aspects. The study begins by exploring the legal framework surrounding e- contracts, investigating issues such as electronic signatures, contract formation, enforceability, and consumer protection laws. It delves into the challenges and opportunities posed by cross-border e-contracts, considering jurisdictional complexities and international legal harmonization efforts. Furthermore, the paper examines the technological underpinnings of e- contracts, with a focus on blockchain technology and smart contracts. It evaluates their potential to revolutionize contract execution and enforcement, while also addressing security concerns and scalability challenges. Finally, the paper discusses the economic and social implications of e-contracts, analyzing their impact on businesses, consumers, and society as a whole. Through case studies and empirical research, it elucidates the benefits and challenges associated with e-contracts, offering insights into their role in fostering innovation, facilitating commerce, and shaping the digital economy. Overall, this study provides a comprehensive overview of e- contracts, shedding light on their legal, technological, and socioeconomic dimensions and offering valuable insights for policymakers, legal practitioners, businesses, and scholars navigating the evolving landscape of digital transactions.
