“And all of you young people will someday look back on this day … and marvel that it was considered a big deal.” So said President Bill Clinton to a group of business and computer science students who watched him electronically sign the e-signature bill into law on June 30. It is expected as he said, to “give fresh momentum to what is already the longest economic expansion in history.” The law, which was the first bill to ever be signed into law electronically, will give online contracts the same legal force as paper contracts. It will take effect Oct. 1, though companies began March 1 retaining electronic records such as mortgages and financial securities.
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