What is E-contract means?

E-contract is a contract modeled, specified, executed and deployed by a software system. E-contracts are conceptually very similar to traditional (paper based) commercial contracts. Vendors present their products, prices and terms to prospective buyers. Buyers consider their options, negotiate prices and terms (where possible), place orders and make payments. Then, the vendors deliver the purchased products. Nevertheless, because of the ways in which it differs from traditional commerce, electronic commerce raises some new and interesting technical and legal challenges. Therefore the object is to create default rules for attributing a message to a party so as to avoid any fraud and discrepancy in the contract.
WROTE BY:Vasudha Tamrakar & Pratibha Pal (http://www.legalserviceindia.com/articles/ecta.htm)