E Commerce Laws
E-Commerce (Electronic Commerce) is the process of conducting business activities through Internet. E- Commerce is any transaction conducted over the Internet or through Internet access. E-commerce or electronic commerce activities and transactions are comprising of sale, lease, license, offer, or delivery of property, goods, services, or information, whether or not for consideration, and includes the provision of Internet access. Formation and enforcement of e-commerce contracts are equally important like that of traditional contracts. E-commerce can be classified to include the buying and selling of goods and services, and the transfer of funds, through digital communications, electronic funds transfer, smart cards, digital cash and all other ways of doing business using digital networks. It also relates to leasing, licensing, offering, or delivery of property, goods, services, or information, whether or not for consideration. Digital signatures are used by the parties to a contract to effect or validate a commercial transaction through the electronic medium.
E-commerce deals with the affairs between and among companies connected and related with marketing, finance, manufacturing, selling, and negotiation that enable commerce and use electronic mail, EDI, file transfer, fax, video conferencing, workflow, or interaction through a computer. Electronic commerce operates in all four of the major market segments – business-to-business (B2B), business to consumer (B2C), consumer to consumer (C2C) and consumer to business (C2B).
The main character that determines the involvement of an e-commerce transaction is by tracking whether the medium of offering and acceptance of the good or service was placed through the Internet. The business activity in e-commerce is conducted over the Internet using any of the applications that rely on the Internet, such as e-mail, instant messaging, shopping carts, Web services, Universal Description, Discovery and Integration(UDDI), File Transfer Protocol (FTP), and Electronic Data Interchange (EDI), among others. It is also to be noted that E-commerce transactions generally facilitate in the avoidance of payment of tax due to taxability of the same transaction by multiple jurisdictions.
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