New York law requires that certain contracts must be in writing to be enforceable. The law, known as the Statute of Frauds, also has several well-recognized exceptions. In a recent decision, the New York Court of Appeals officially adopted the promissory estoppel exception, but made clear it only applies in limited circumstances. As a result, individuals and businesses that don’t insist on written contracts still take a big risk that they won’t be able to enforce their agreements.
WHAT YOU NEED TO KNOW ABOUT USING ELECTRONIC SIGNATURES IN CONTRACTS
Since March 2000, New York has allowed the use of electronic signatures on electronic records in place of actual signatures. The New York Electronic Signatures and Records Act (ESRA) applies to anyone using or accepting electronic records and signatures in New York State, including persons and entities in the public and private sectors. An electronic … Read more