Emerging dimensions of E-Commerce in India; Problems and Prospects

E-Commerce includes business to business connections to make easier big corporation to purchase. The E-Commerce shall have significant impact on the global economy as well as plays a key role in the future development. It is, therefore, various developing countries have attempted to formulate an adequate legal and regulatory framework in support of E-Commerce across State, National and International level. However, the adequate legal framework requires the substantial reconsideration of traditional legal approaches and all these legal regulatory mechanism as well as legal infrastructure comes under domain of cyber law. Internet has facilitated online execution of commercial transaction. The growth and development in the field of E-Commerce has propelled the need of an effective regulatory mechanism. This regulatory mechanism falls within the domain of Internet/Cyber Law. Cyber law is a constantly evolving process. The legal issues of Electronic Commerce/Electronic Data Interchange are related to the evidential, contractual and liability. The law of contract being the area of Private Law and the brainchild of corporate world the underlying postulate in any legal regime governing contractual relations, that the contracting parties must get freedom to contract, adhere to contract terms and conditions of and get adequate redress in the event of breach thereof. The basic issues involved in the contract are acceptance, communication, consideration, competency of parties and remedies for breach of contract. The decision by UNCITRAL to create Model legislation on electronic commerce was made in response to a number of countries having inadequate or outdated existing legislation. International law on electronic contracts appears to have resolved the doubts previously applicable to “Shrink Wrap” and “Click-Wrap” Contracts. Difficulty may arise in determining the appropriate jurisdiction of the execution and performance of contract that has been entered into electronically.