CHAPTER 2 2.1 INTRODUCTION The law of contract is in the process of evolving due to the advent of the new information technologies, it has to adapt to modern business dynamics consequent to the internet’s invention and electronic commerce.70 Despite these changes, the substantive common law principles of the law of contract remain the same regardless of whether a contract is electronic or paper-based.71 The remarks that the law of internet contracts largely focuses on the legal certainty in the formation of online contracts, particularly on the exact moment at which online contracts are concluded,72 are well received. The law of contract lies in, inter alia, trade, property and technical engineering transactions, which are conducted mostly in writing, and require a network of carefully drafted contracts. 73 The Model Law’s legal framework is an important step towards the fulfilment to a counterpart paper-based common law requirements, such as writing and signature requirements.74 In prelude to this chapter, it will establish that South Africa and Lesotho jurisdictions apply the same common law principles, for the law of contract, which is the basis for comparisons of the study between Lesotho Electronic Transactions and Electronic Commerce Bill 201375 and South Africa’s ECT Act.76 It will further comprise a brief history of the law of contract, a definition of contract, and an exposé of common law requirements for conventional contracts and the Model Law’s perspective for electronic contracts. 70 Applebey, G. (2001) “Contract law” 2; Seddon, NC. Et al. (2002) “Cheshire and Fifoot’s law of contract,” 8 th ed, 137. 71 Buys, R et al. (2004) “Cyberlaw@SAII: the law of the internet in South Africa.” 2 nd ed. 101; Kinsella, NS. et al. (2004) “Online contract formation,” 1 st ed, 431. 72 Rogers, KM. (2011) “The internet and the law” 23. 73 Applebey (2001: 2). 74 Pistorius (2002: 129 at 134). 75 The Bill. 76 ECT Act. 9