Terms of Agreement - Electronic Contracts

The video tutorial explains the essential elements of contracts, including offer, acceptance, and consideration, which are necessary for both written and electronic contracts. It discusses the different rules that apply to contracts for the sale of goods versus other types of contracts, highlighting the influence of the Uniform Commercial Code and common law. The tutorial also covers the validity of electronic contracts under U.S. law, emphasizing the importance of the Federal Electronic Signatures in Global and National Commerce Act and the Uniform Electronic Transactions Act. Finally, it outlines the requirements for electronic signatures, ensuring they are valid and recognized as part of a contract.

Explain the concept of 'consideration' in the context of contracts.

What must a party do to ensure their electronic signature is valid under U.S. law?