What doe the "e" in e-contract stand for?

Full question:

What is an E-contract? Does it have anything to do with contract? Does the E stands for electric?

  • Category: Contracts
  • Date:
  • State: Louisiana

Answer:

It usually stands for "electronic".

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FAQs

An e-contract differs from traditional contracts primarily in its format and method of execution. While traditional contracts are often written on paper and signed in person, e-contracts are created and signed electronically. This allows for quicker processing and easier storage. However, both types must meet the same legal requirements, such as mutual agreement and consideration, to be enforceable.