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QUESTION
The Web has made it extremely attractive to conduct commercial activities online. Companies such as Amazon.com and eBay are e-commerce powerhouses that sell all sorts of goods and services. The Web is now used as a medium to negotiate and agree on contract terms and to send and agree to a final contract.
(i) What is a contract?
(ii) Elaborate on the conditions required for the formation of a valid contract?
(iii) What do you understand by the term "electronic signature"?
(iv) Describe the various ways a contract can be terminated
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