ABSTRACT

The information technology (IT) revolution in the form of the Internet had an enormous impact on the means of conducting international commerce in the last decade of the last century. The use of electronic means for conducting sales was heralded as an economic boon to developed and developing nations alike. Suddenly, the commercial world had direct access to a global marketplace and they could exploit it in an efficient and economically advantageous manner. Politicians, policy makers and non-governmental organisations welcomed the Internet with open arms as providing an opportunity for raising the standards of living and providing a means of reducing the levels of poverty worldwide. Of course, the use of IT for conducting business and concluding contracts raises a number of legal issues – among them the formation of contracts. A number of international organisations set out to iron out the legal uncertainties and difficulties with the intention to promote electronic commerce.