digital contracts

Good question, I want to know the answer for this. Let us wait for the learned members answers.

Digital signatures affixed to contract documents are an article of faith.

"The problem is that while a digital signature authenticates the document up to the point of the signing computer, it doesn't authenticate the link between that computer and Alice. This is a subtle point. For years, I would explain the mathematics of digital signatures with sentences like: "The signer computes a digital signature of message m by computing m^e mod n." This is complete nonsense. I have digitally signed thousands of electronic documents, and I have never computed m^e mod n in my entire life. My computer makes that calculation. I am not signing anything; my computer is."

For complete details and understanding please read the following links:

1) https://www.schneier.com/crypto-gram-0011.html

2) https://www.law.washington.edu/Directory/docs/Winn/The%20Emperor%27s%20New%20Clothes.htm

Dear Friends,

I am having a detailed Note on the issue, which i will be finding in my office and hoist accordingly in couple of days. Till the time stay in touch.

what should be the capacity of the parties entering into a digital contract and how can it be verified?

-digital signatures are valid and the parties should be qualified to enter into contract.

 

how can it be verified that free consent is obtained in digital transactions?

-have another contract saying that the contract signed is with free consent get it digitally signed.

how can the essentiality of legal object be attained in a digitaaal contract?

as above

what are the laws governing the application of digital contracts?

indial evidence act, contract act , information act

Hi friends,

First with due respect my friend democratic indian does not know the meaning of Digital Signatures. They are equivalent to notarization and are issued by Govt. of India through authorised representatives. The signed file  is stamped by authorised GoI agent i.e. for instance TCS, EXIL, Satyam etc. on payment of annual charges or more.

now, asnwer to your questions:

Capacity of parties whether digital or physical or remote as per Sec. 10, 11, etc is not to be checked as the Contract is voidable in favour of aggrieved party upon knowing the incapacity, meaning - one does not and need not cheque capacity of other party as one is always free to leave contract on such issues.

All your other questions too are quiet naive.

I will give an example to illustrate.

A is a minor aged 17 years, looks of the age of above 20, gives an undertaking that he is aged 20 years to a private financier B. A procures a loan from B and gives post paid cheques to B. B enquires about the age from his friends and relatives and everyone lies. B, after due diligence grants loan which is meant to be used by A for horse race gambling.

here, the consent was vitiated by undue influence, therefore no free consent, party A was also incompetent to contract, yet contracted, and object of contract was illegal.

CONCLUSION: You cannot ascertain conduct, competence, free consent etc and therefore such contracts are declared as VOIDABLE to favour the aggrieved.

I hope to have satisfied you.

Dear Deepak Arya, with due respect I would like to say that you have probably not understood what I wanted to convey and reached a conclusion that I do not understand the meaning of digital signatures. BTW the GoI agents i.e. for instance TCS, EXIL, Satyam etc. as mentioned by you are merely PKI digital certificate providers(these type of certificates can also be created by anyone on any PC, though they will not be legally admissible but can be very well used for authenticating private internal communications). These GOI agents do not sign each and every document on your behalf. YOUR computer signs each and every digital document on your behalf using these PKI digital certificates. The digital signature doesn't authenticate the link between that computer and the human user. This is what I have tried to explain and have also further provided 2 links for reading and understanding.

Dear friend,

            Infact, I must agree that I found my mistake immediately after posting that message and really regret. Infact, Techies usually don't visit these forums. Actually query was about digital contracts which was explained in perhaps smthing like 8086. Please ignore my remarks.

The Information Technology Act, 2000 plays a major role in legalising digital signatures

The Indian Evidenct Act has also been amended to give treat digitally signed documents as evidence.

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How to get digital signature certificate

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