A contract is defined by Cowel as a covenant or agreement with a lawful consideration or cause. Blackstone defines it as an agreement upon sufficient consideration to do or not to do a particular thing. The Indian Contract Act 1872 defines Contract as an agreement enforceable by law. All agreements are contracts if they are made by the free consent of the parties competent to contract, for a lawful consideration, and with a lawful object and are not expressly declared to be void.

Contracts may be classif‌ied under three heads.

1. Contracts of record such as judgements, and recognisances (recognisance is a bond or similar obligation made and recorded before a court by which a person binds himself to perform some act or fulfil some condition at a specified time.)

2. Contracts under seal which includes categories of contracts like contracts unilateral, (like bonds) and contracts inter partes (like indentures of demise) and

3. Simple contracts or contracts not under seal or specialty which are either written or verbal.

A contract under seal is a contract in writing, the execution where of is accompanied with certain solemnities which not merely indicate the ascent of the contracting parties but give to their contract peculiar force and efficacy; An instrument under seal, when used between private persons is called a 'deed' (factum). This is because, it is the most solemn and authentic act that a man can possibly perform with relation to the disposal of his property, or with a View to affecting in any manner his own interests. ;the instrument in question may be unilateral or made by one party only, or it may be inter partes (made between two or more parties). A contract under seal is distinguished from a simple contract in writing by virtue of certain solemnities attended on its execution viz., by sealing and delivery. It may be noted that in earlier times, signing was in no case deemed essential to the validity and obligatory force of a deed which had been executed by sealing and delivery. Delivery is essential to the due execution of a deed.

The above paragraphs are given only as examples to highlight the various provisions of the law of contracts which are highly dependent on the physical form of the deeds/agreements. Similarly, stamp duty and evidence laws demand physical existence of documents (hard copy), Stamp papers/payment of stamp duty and manual (physical) signatures of the executants. It remains to be seen as to how the existing legislations would be amended in order to accommodate and facilitate records in the soft form, signatures in the electronic form, and the transmission thereof through computer networks as an alternative to physical records and physical delivery.