Business Law

David S Myers

Unit 3 DB1

Business 255-100A-2

Professor Bassey

American Intercontinental University Online

January 24, 2010

According to the electronic signatures online it seems to be more convenient for business owners around the world. It provides the saving of time and the convenience of just having to sign electronically rather than paper signature, it also saves trees, now that world is trying to go green on everything. The convenience for people, the fact the world is changing and technology are the biggest part in the world, people tend to turn to convenience of technology, because people tend to be busy these days. Also it increases businesses for many business owners out there, who has a physical stores or and even online and it also lowers the cost for the nation’s business, and in my opinion I think it will be a long term impact for all business owners. Electronic signatures are just as good as it is in paper, it provides the binding legality of the contract, and for example AIU online uses electronic signatures such as on financial aid documents. Another example would be Docusign.com, this website provides services for Realtors and other business owners out there would perhaps can save the time, and paper for clients to sign electronically other than physically and it is very legal. The only problem with this company is that it is still trying to pass the law of having FHA approve electronic signature be accepted by lenders, and some electronic signatures are not accepted, which makes it inconvenient for Realtors and their clients. The law also provides B-2-B (business to business) website that needs an enforceable agreements for ordering supplies and services. (Solution, 2010)

The potential of electronic pitfall could be fraud within the contract; it is very likely that this can happen to many businesses. Within my research I have found the some documents that contracts that must be on paper and enforceable would be wills, codicils, and...