Source: L. 2002: Entire article added, p. 849, § 1, effective May 30.
While this section would validate an electronic record for purposes of a statute of frauds, if an agreement to conduct the transaction electronically cannot reasonably be found (See Section 5(b)) then a necessary predicate to the applicability of this Act would be absent and this Act would not validate the electronic record. Whether the electronic record might be valid under other law is not addressed by this Act.
Subsections (c) and (d) are particularized applications of subsection (a). The purpose is to validate and effectuate electronic records and signatures as the equivalent of writings, subject to all of the rules applicable to the efficacy of a writing, except as such other rules are modified by the more specific provisions of this Act.
Illustration 1: A sends the following e-mail to B: "I hereby offer to buy widgets from you, delivery next Tuesday. /s/ A." B responds with the following e-mail: "I accept your offer to buy widgets for delivery next Tuesday. /s/ B." The e-mails may not be denied effect solely because they are electronic. In addition, the e-mails do qualify as records under the Statute of Frauds. However, because there is no quantity stated in either record, the parties' agreement would be unenforceable under existing UCC Section 2-201(1).
Illustration 2: A sends the following e-mail to B: "I hereby offer to buy 100 widgets for $1000, delivery next Tuesday. /s/ A." B responds with the following e-mail: "I accept your offer to purchase 100 widgets for $1000, delivery next Tuesday. /s/ B." In this case the analysis is the same as in Illustration 1 except that here the records otherwise satisfy the requirements of UCC Section 2-201(1). The transaction may not be denied legal effect solely because there is not a pen and ink "writing" or "signature".
Structure Colorado Code
Article 71.3 - Uniform Electronic Transactions Act
§ 24-71.3-104. Prospective Application
§ 24-71.3-105. Use of Electronic Records and Electronic Signatures - Variation by Agreement
§ 24-71.3-106. Construction and Application
§ 24-71.3-108. Provision of Information in Writing - Presentation of Records
§ 24-71.3-109. Attribution and Effect of Electronic Record and Electronic Signature
§ 24-71.3-110. Effect of Change or Error
§ 24-71.3-111. Notarization and Acknowledgment
§ 24-71.3-112. Retention of Electronic Records - Originals
§ 24-71.3-113. Admissibility in Evidence
§ 24-71.3-114. Automated Transaction
§ 24-71.3-115. Time and Place of Sending and Receipt
§ 24-71.3-116. Transferable Records
§ 24-71.3-117. Creation and Retention of Electronic Records by Political Subdivisions
§ 24-71.3-118. Acceptance and Distribution of Electronic Records by Governmental Agencies
§ 24-71.3-119. Interoperability