ACADEMIC RELEVANCE

–This study is first and foremost an attempt to contribute and stimulate academic debates regarding the protection of parties to Internet commercial agreements.

DEVELOPMENT OF A LEGAL FRAMEWORK

–The research also makes an attempt to resolve the above discussion regarding an appropriate legal framework for electronic contracts. Although the Internet has been used as a commercial medium for nearly a decade, the enforceability and legal effect of electronic contracts is an unresolved issue.

DEVELOPMENT OF A LEGAL FRAMEWORK

–The ability to form enforceable contracts online is a fundamental requirement to the growth of electronic commerce on the Internet. Hence it is important that the legal framework for electronic contracts must be fully spelt out and enforceable like traditional contracts.

–CONTRIBUTION TO ONGOING DEBATES

–Presently, the Legislature is embarking on major reforms in the regulation of electronic commerce in the country and therefore this study is apt and timely in shaping the directions of the reforms needed in the e-commerce industry.

INTERNATIONAL TRADE

–Electronic contracts are of international significance and international developments in relation to electronic contracts are taking place to offer national legislators a set of internationally accepted rules.

–International organisations such as the UNCITRAL, OECD, and ICC have expressed concerns in general regarding the need for the improvement of the online environment in Nigeria.

ECONOMIC BENEFITS

–The research is significant as it identifies the strengths and weaknesses of electronic contracts to maximise the potential of electronic commerce.

 

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