Some legal issues raised by electronic trading

A discussion of the legality of electronic trading questions how electronic data interchange (EDI) systems accomplish the traditional legal goals of paper communication. These are: the display of proof that information is authentic; the communication of trade terms and conditions; the permanent storage of information; and the satisfaction of laws which require certain legal information to be `written´ and `signed´. Other questions also emerge. How should trading partners and intermediary networks divide among themselves the risks of errors? How will Government record retention and control requirements be interpreted for electronic communication? What replaces the visible audit trail? Should the law be modified to clarify its applications to EDI?