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- W2890166175 abstract "The ides illustrated in the above quotation indicates to us the evolution of contracts periodically. The historical formation of a contract has been altered and vast changes have been introduced in this particular field by the proliferation of the internet . Thus, the online contractual obligations are widely recognized and respected by the entire world because of the intrinsic qualities of those contracts. As it has been observed; ‘[electronic contracts] abolishes frontiers and open both to commercial and non - commercial actors a mean of drawing up contracts with very little fuss. 1 As some commentators have pointed out , today the internet has brought about vast changes in international trade by expanding the potential geographic business market while reducing the cost of access. 2 Therefore, the ‘ online contracts’ constitute a more convenient way to meet the mind of the parties. 3 Moreover, now contract formation and performance can be conducted over electronic media and can occur without using a single sheet of paper or a drop of ink. 4 As explicated in the introduction, this paper aims to discuss the applicability of the principles of traditional contract law in the sphere of online contracts. It is uncontroversial that the traditional and classic rules of law of contract are tilted heavily on the formation and performance of ‘paper based contracts’. Then the question may arise, how and to what extent these classical rules are applied to the notion of online contracts. In this controversial context with that dilemma, the validity and enforceability of an online contract can be challenged . As per the given quotation, if examined closely, one can find out the classic rules of law of contracts that can be applied even in online transactions. Thus, one can argue that the online contracts can be placed on the same footing as the traditional contracts. The main objective of this paper is to discuss the instruments that have been used to dispel the uncertainties with regard to the formation of contract on the internet. It also attempts to make in - depth analysis of the law relating to online contracts internationally, as well as domestically. Moreover, it discusses the pros and cons of the influence of UNCITRAL Model Law on Electronic Commerce 5 (model law) and the United Nations Convention on the Use of Electronic Communications in International Contracts 6 (ECC) on electronic transactions. 7 Furthermore, it explores lessons from successful experience of other jurisdictions such as South Africa and European Union (EU) for the purpose of evaluating the Sri Lankan legal regime on Electronic Transactions (ET). Finally, it offers suggestions to enhance the existing legal framework in Sri Lanka." @default.
- W2890166175 created "2018-09-27" @default.
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- W2890166175 date "2016-01-01" @default.
- W2890166175 modified "2023-09-27" @default.
- W2890166175 title "The applicability of the principles of traditional contract law in the sphere of online contracts: A Sri Lankan perspective" @default.
- W2890166175 hasPublicationYear "2016" @default.
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