Federal and State Electronic

Transactions Laws

US Courts generally require three things for a contract to be enforceable: (1) Mutual assent, or agreement to the contract terms (2) A valid offer and acceptance (3) and Consideration.

Any document is valid as legal document, if the parties specify the agreeable contract terms with a sign of consent/acceptance such as signature.

Pinkii Swear certifies contracting parties through the personal authentication system and states the consent to the agreement with e-signature. The process of creating legal documents is all recorded on the system and as well as on blockchain to prevent access, deletion and modification other than the contracting parties.

Legal Effect of E-signatures

Same as Written Signatures

Federal legislation enacted in 2000, known as the Electronic Signatures in Global and National Commerce Act (ESIGN), made most e-contracts and e-signatures just as legal and enforceable as traditional paper-and-ink contracts and signatures.

All states have adopted either the Uniform Electronic Transactions Act (UETA) or their own e-signature laws that establish the legal validity of electronic signatures and contracts in a similar manner as the federal law (ESIGN). The combination of federal and state laws ensures that most e-contracts and e-signatures are valid regardless of where the parties live or execute the contract. Pinkii Swear's e-signature can be used with the consent of the parties who have been certified. These consent process can be proved by password or the biometric information provided by the user.

Legal Effect of E-contracts

Same as Written Contracts

Keep copies of the documents. The party creating the contract is supposed to keep electronic or paper copies of the signed documents and either provide copies to the other party or let the party know how to get copies.

Pinkii Swear stores the document in the PDF file during the process of creating an e-promise/e-contract - so that the contract can be recognized as a legal document. Also Blockchain technology allows you to verify and history of the document, and prevent evidence from being compromised.