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Are contracts executed online legally valid and binding?
Yes, the documents which are executed online through SignX have the same level of legality and standing as paper documents executed by hand.. For example, when you click on an “I Agree” button on the before , you are usually a party to what is known as a Clickwrap Contract. Also, when you pur-chase goods online, you are a party to a legally binding contract. When using eSignature, both parties must mutually agree to use electronic signatures and signers on their own (without any enforcement) should be willing to sign using electronic signatures.
SignX is in full compliance with the 2000 U.S. Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA), Canadian Personal Information Protection and Electronic Documents Act (S.C. 2000, c. 5), as well as the European Directive (EC/1999/93), all of which intended to encourage adoption of legally binding electronic documentation and paper waste reduction. Each of these acts reinforces the validity of electronic agreements. According to ESIGN, for example, a contract “may not be denied legal effect, validity, or enforceability solely because an electronic signature or electronic record was used in its formation.”