The determination of a regulatory framework for e-commerce transactions

Electronic business transactions raise new questions about the appropriateness and applicability of traditional law, thus necessitating a new regulatory framework for electronic business. This work examines the possibility of a new regulatory framework from the different hierarchy of regulation - personal, corporate, local, national and international - with a view to untangling overlaps, and analysing the compatibility of any new legal structure with the traditional role of law - regulation and control in society. As a result of the novelty of e-commerce it is extensive to find a single body of appropriate laws for regulating e-commerce. The discovery process appears to be - what law is the recognized law of any equivalent commercial transactions? Does the electronic nature of e-commerce add anything new to that sort of commercial transaction? Where nothing new is apparent, e-commerce law is probably commercial law in an electronic environment; where there may be something new, is there new legislation or directions from other sources of law? Or is the new law a hybrid of old law and new principles? This work concentrates on the legal framework surrounding electronic contracts with the borderless nature of e-commerce in view.