Legal Framework of Electronic Contracts in Pakistan: Challenges and Prospects for Business

Abstract

The development of e-commerce has rendered it necessary that a robust legal framework be developed in order to provide the legal basis for electronic contracts and their enforceability. This article will cover different aspects of electronic contracts in Pakistan by taking a look at legislation, court judgments, and emerging trends. The legal framework is the cornerstone. That is, the Electronic Transactions Ordinance of 2002 acknowledges the legality of electronic contract signatures and records as well as helping to ratify documents in court. Nevertheless, there are still problems: companies and individuals remain unaware; there is a risk of cyberattacks; the law isn't clear. Despite these challenges, electronic contracts offer a number of benefits to businesses, including budget and time efficiency, being internationally available, and providing a sound legal basis. Through education campaigns, strengthened cybersecurity measures, legal reforms, and other means, Pakistan can overcome the hurdles to allow electronic contracts, promote business growth, encourage innovation, and even contribute to economic development. There is already some evidence of this happening. This study aims to inform policymakers, businesses, and legal practitioners about the chances and challenges presented by electronic contracts in Pakistan. Therefore, I would like to offer some ideas for moving through the digital age.