STRIKING THE DIGITAL BARGAIN: RETHINKING THE POINT OF AGREEMENT IN CYBERSPACE CONTRACTS

Abstract

The digitalization of commerce has complicated the traditional principles of contract formation, raising the crucial question of when an online agreement becomes legally binding. This study, aims to critically examine the adequacy of Nigeria’s legal framework on online contract formation in comparison with global standards. The objectives are to identify the precise point at which online contracts are deemed concluded, evaluate the strengths and weaknesses of existing Nigerian laws, and propose reforms to align with international best practices. Methodologically, the study adopts a doctrinal approach, drawing on statutory provisions, judicial precedents, and comparative analysis with global instruments such as the UNCITRAL Model Law on Electronic Commerce and the European Union’s e-commerce directives. Data was collected primarily from legislation, case law, and secondary literature. The findings reveal that while Nigeria’s legal regime, rooted in common law, recognizes electronic transactions, it lacks clarity on the moment of agreement and enforcement mechanisms, unlike more advanced jurisdictions. The study recommends legislative reform, harmonization with international instruments, and judicial activism to provide certainty and consumer protection in cyberspace contracts.