The old saying "a verbal agreement isn't worth the paper it's written on" could be tweaked for modern times as "an online agreement isn't worth the paper it's written on"
The old saying "a verbal agreement isn't worth the paper it's written on" could be tweaked for modern times as "an online agreement isn't worth the paper it's written on"
Most kinds of agreements are enforceable if you have proof. Digital proof is still proof
I would think that a valid digital contract would involve 2 cryptographic digital signatures. Anything less than that is just a glorified, easily spoofed, text document
Cryptographic signatures are good.
But courts don't really require that. Evidence is just one side presenting things, if the other side doesn't dispute it, then they just continue court proceedings like its all valid. If it gets disputed, then if its Docusign (99% of the time its Docusign), then the court will subpoena Docusign for all information related to the document: Time of signature, Device, IP address, Email address, Phone numbers, everything. Also, there is usually other evidence to corroborate, such as text messages, phone call logs, etc, which would further prove the contracts legitimacy.
Giving an offer to purchase a house is usually done via Docusign.
However, the actual purchase agreement and closing documents are all done through actual paper and pen.
So basically, digital signatures are good enough for small enough agreements, but its not yet ready for like serious bussiness.
Not the point. Like the person you replied to said, as long as you have proof then in many jurisdictions it doesn't matter how the agreement was made.
You can create a company here with a handshake (literally).
NZ law just says it has to be adequate for the intended purpose: https://www.legislation.govt.nz/act/public/2002/0035/latest/whole.html#DLM154837
Ohh how i wish the average person realised this.
But you can't have proof for digital agreements. Was I of sound mind when I accepted them? Did I accept them by accident? Was it me or somebody else on my device that accepted them? How can you prove any of this?
“No your honor, I was drunk when bought those bitcoins at the peak so I couldn’t legally enter an agreement, I want a refund”
Sure that’ll work
There are presumptions that you were of sound mind and it was you. Unsurprisingly, courts are full of weasely, pro se people who waste everybody's time because they, very much incorrectly, think that they can get out of agreements by going into court and making the brilliant, one of a kind argument of "but your honor, they can't prove that I clicked it. I was hacked/someone else must have logged in as me!" People do this all the time and they lose all the time. Modern commerce literally would not function without these presumptions.
Edit: also, fwiw, there are exceptions but generally speaking verbal agreements were and still are very much valid, whether written or not, unless the agreement fell into certain categories (e.g., sale of land). Same deal, annoying people think they can outsmart the system by just saying "but your honor, none of this was ever put to paper." They are, with important exceptions, also generally wrong.