Flashcards: Digital Contract Formation — 20 cards

Offer — definition?

A precise proposal expressing intent to be bound.

Essential elements of an offer?

Clarity, specificity, firmness, and serious intent.

Revocation of offer — timing?

Before acceptance is received by the offeree.

Caducity — meaning?

Offer expiration due to time lapse or parties' incapacity.

Irrevocability — condition?

When offer cannot be revoked before certain events or periods.

Acceptance requirements?

Unqualified, mirror the offer, and be communicated clearly.

Electronic contract formation?

Creating binding agreements via digital means with specific rules.

Double click mechanism — purpose?

To ensure deliberate, informed electronic acceptance.

Electronic signature — legal role?

Verifies identity and consent, legally equivalent when reliable.

Proof of consent — methods?

Electronic records, signatures, timestamps, logs.

Particular contract types?

Sales, leases, services, each with specific formation rules.

Legal framework for digital contracts?

Laws ensuring validity, proof, and security in electronic agreements.

Offer meeting acceptance — key?

Formation occurs when acceptance matches offer terms clearly.

Acceptance by silence — valid?

Generally no, unless legally or contextually accepted.

Revocation vs cessation — difference?

Revocation is withdrawal; cessation is automatic expiration.

Electronic offer specifics?

Must be precise, accessible, containing essential info.

Electronic acceptance mechanisms?

Explicit clicks, tacit conduct, digital signatures.

When is a digital contract formed?

When acceptance reaches the offeror, confirmed digitally.

Legal recognition of electronic signatures?

Yes, when they meet reliability and security standards.

Key point in electronic contract proof?

Reliable logs, timestamps, and signatures ensure validity.