To be legally binding, an agreement needs these components:
- Offer: One party makes an offer, such as selling a product or service to the other party.
- Acceptance: The parties agree or accept the offer.
- Consideration: One thing of value is exchanged for another thing of value. For example, if you’re selling 1-Click acceptance software to a customer, you’re exchanging software for money.
- Intent by both parties to create legal relations: Both parties should know that they are entering into a legal agreement. In agreements between businesses, the law generally assumes that both parties intend to enter into an agreement. When an agreement is between a business and a consumer, the bar may be higher, because the consumer may not be as savvy about legal agreements.
Of course, many agreements also include other details such as how the agreement can be terminated, what happens if a party breaches the agreement, and how disputes will be handled. However, as long as these four key components exist, whether it’s a verbal agreement over the phone or a handshake deal scribbled on a napkin, a legal agreement has taken place.
That’s why emails are legally binding. Despite not having a formal document or signature, email can outline and record all of the key components needed for a legally binding contract. As long as the agreement’s terms, parties, and intent are clear, accepting contracts via email is faster and more convenient.
That’s where ROGER comes in.
Similar to how Amazon brought convenience to millions of consumers and revolutionized retail with its 1-Click checkout, ROGER offers 1-Click acceptance of standard agreements via email. ROGER is the quickest and easiest way for both parties to acknowledge the agreement and is 10x faster than any other e-sign method.
Once the recipient clicks “I ACCEPT,” ROGER creates a secure and immutable digital audit trail and sends both parties executed copies of the agreement appended with a watermarked Certificate of Acceptance with a globally unique identifier and hash. The process makes it clear to both parties that they’ve reached an agreement and removes the extra steps of creating new accounts and signing in. This means faster Yes’s and fewer headaches for everyone involved.
Let ROGER help you get that “Yes.”