Electronic Bills of Exchange and Promissory Notes in Australia
AbstractThe writer suggests that it is both desirable and feasible to legislate for bills of exchange and promissory notes issued in an electronic format. This conclusion is supported by the fact that the Electronic Transactions Act (1999) (Cth), an Act to remove legal impediments to electronic commerce, was commenced by Proclamation on 15 March 2000. The benefits that would flow from the enactment of such legislation would greatly outweigh any costs that would be incurred. |