New Federal Law Takes Effect That Gives Legal Validity to Electronic Signatures and Records
Morgan Lewis Title
published on:November 2000
downloads/links:View White Paper
The Electronic Signatures in Global and National Commerce Act (“E-Sign”) became effective on October 1, 2000, giving electronic signatures, contracts and records the same legal validity as equivalent paper signatures, contracts and records. As a result, E-Sign removes much of the uncertainty that has hindered many transactions in the E-commerce arena.
Most significantly, E-Sign establishes a general rule that validates electronic signatures and electronic records used in any transaction in and affecting interstate and foreign commerce. It also creates uniformity among differing state laws, and is technology neutral, which enables the parties to a transaction to choose the form of electronic signature or electronic record best suited for their purposes.
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