Signing Contracts

Discussion in 'Legal Issues' started by Shogun, 21st Oct, 2019.

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  1. Shogun

    Shogun Well-Known Member

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    When did "Doc u sign" or other online signature become an acceptable way to sign contracts?

    What Court cases test/support its use?

    Intro to Business Law at University was a life time ago
     
  2. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    I don't have answers to the specific questions, but it's been around for at least 18 months in various forms with different lenders.

    I've no idea if there are any test cases, but I can't imagine that the banks have going into this without some sort of ruling or legal confirmation.
     
  3. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The Electronic Transactions Act 1999 permits certain forms of authorisation. A lender incapable of verifying parties may not accept it. The Act says a electronic signature may not invalidate a document. It may not be accepted as valid by either party however.

    ELECTRONIC TRANSACTIONS ACT 2000 - As at 1 July 2015 - Act 8 of 2000

    Note that it applies to transactions. A deed may be excluded from its intent.
     
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