Abstract
EXECUTION OF AGREEMENTS IN ONLINE
TRANSACTIONS:
THE GAPS IN NIGERIAN LAW
Dorcas A. Odunaike[1], Joy C. Mgbado[2], Vera Ekundayo[3] Adiele Emejuru[4]
Abstract
The emergence of technology birthed e-contracts and consequently the execution of agreements in online transactions, hence the importance of e-signature (otherwise known as data in electronic form which are attached to or logically associated with other electronic data and which serve as a method of authentication) in ensuring due execution of such e-contracts.
Due execution of agreements in online transactions has generated controversies among legal jurists, it is trite that without due execution of written contract there is no valid enforceable contract. Hence, the creation of e- signature using various systems such as the closed system and open system, with various modals ranging from Click to sign signatures, Digital Signatures, Digitized signatures, Advanced and Qualified electronic signatures among others.
The aim of this article is to examine the importance of due execution of documents (electronic or paper-based), trace the legal framework for execution of documents in Nigeria from the Statute of Fraud, the Evidence Act 2011, the Cyber Crimes (Prohibition, Prevention, etc) Act 2015, and recently the Electronic Transactions Bill 2017 which specifically regulates e-signatures. This paper highlights the emergence of e-contract and the need for e-signature with the view of identifying the lacuna under the Nigerian law in comparison to e- signature laws of other jurisdictions and make recommendations that will enhance an effective e-signature regime in Nigeria.
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