Legal Question in Banking Law in Kenya
Dicusss the concept of ecommerce and anlyse the advantages and disadvantages thereof
Asked on 7/02/13, 4:49 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
02.07.2013
Dear Sir / Madam,
e-commerce is the process of trade and exchange of goods and / or services between two or more persons or business entities for an agreed consideration of price and settlement.
The main advantage of the concept is the swiftness with which the transaction (offer and acceptance) is completed.
The main disadvantage of the concept is the time lag in the scrutiny of the documentation trail in case of a disagreement (dispute) in the contract amongst the persons or entities.
Regards,
Answered on 7/02/13, 5:00 am
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