Electronic contracts

There are a number of ways an electronic contract can be executed:
• Clicking a checkbox to acknowledge agreement.
• Typing yes or I agree in a form online.
• Signing a document with a stylus or your finger.
• Using a facility such as DocuSign to electronically sign a document.

These contracts are considered legally binding, provided they meet the usual requirements under a contract relating to:
• Offer,
• Acceptance, and
• Consideration.

The Electronic Transactions Act 2000 (NSW) stipulates that an agreement can be in writing if it is given by electronic communication. (Paperless)

There are provisions within the act to stipulate that if a person consents to a method of electronic signature and intends that signature to be their consent to the contract then it will be as binding as a written signature on paper.

Quite a few organisations have adopted electronic contracts even banks have adopted electronic contracts for loan agreements.

Contracts for the sale of land can be electronic too.

Electronic contracts for conveyancing can increase the speed and efficiency of a transaction.

During these unprecedented times, many Real Estate Agents will be utilizing electronic contracts. The vendor or purchaser can access the electronic contract through a secure client portal. This document can then be signed electronically and available to the solicitor immediately.

If you require any further information please do not hesitate to contact our office.

COVID-19 Announcement

Please be advised that our offices are open however due to social distancing regulations for the foreseeable future we will be limiting face to face conferences.

For clients regarding wills, power of attorneys and enduring guardianships we will organize to hold the meeting in a conference room that meets the social distancing rules.

We will be conducting our conferences via video conferencing or phone where necessary. At this point we will not be able to conduct any Notary Appointments.

Be assured that all property settlements will not be affected and will continue to be transacted electronically.  Russell Kelly & Associates is a certified accredited participant in Property Exchange Australia (PEXA).

We will be monitoring the governments responses and will update as necessary.