Instructions: For response 1, respond thoughtfully. Just saying “I agree” or “I disagree” does not constitute a thoughtful response. They need to be substantive to promote further discussion, new ideas, or questions and are approximately 75-100 words (1 paragraph) in length. Short comments, such as â€œGood point,â€ can count if you backup your point.
What is the current state of technology for protecting online transactions? How can a party be assured that the negotiation and transmission of a contract online is secure? How can the performance of a contract be monitored online?
The current state of technology for protecting online transactions is due to E-commerce which has a consumer protection law that falls under federal law. E-commerce is a commercial transaction conducted electronically on the internet. The Magnuson- Moss Warranty Act and The Electronic Signatures in Global and National Commerce Act protect consumers during online purchases. Which laws Parties can be assured of the negotiation and transmission of a contract are secure by the usage of OADR websites such as SquareTradeâ€™s direct negotiation tool. Itâ€™s an automated web-based communication tool. SquareTool provides a mediator to assist the parties if the resolution cannot be reached during a negotiation. The performance of a contract can be monitored online by LANs. Which are run by private companies or universities which develop their own internal rules and monitored by closed, private forums. Which helps businesses stay on track of contractual obligations.