Table of Contents TCAW Home Electronic Reader Service Contact Us Masthead Sitemap Computers in Chemistry Hank Simon E-Signs of the Times Electronic signatures may change our methods of conducting business, but it will take time. Businesses can now use electrons in place of ink to make binding contracts.
Customers can buy a house, a car, or a boat by simply clicking on the dotted line.
The House, the Senate, and President Clinton were all in agreement, in the form of new legislation, that electronic signatures are a good thing in the 21st century. One of the putative goals of the new law is that it is a step toward a paperless society. Rather than requiring a paper document to consummate a legal transaction, all parties can agree to do business digitally and bypass the need for the printed word on paper. The new electronic signature law will improve national standards for e-commerce, facilitating transactions for individuals and businesses and enabling the distribution of legal contracts, documents, and information online via the Internet. The ability to make binding contracts online and across state borders will drive down transaction costs.