My analysis is that forcing the scroll through the entire agreement provides 
additional comfort that the counterparty has actually looked at the agreement 
and knows to what they are agreeing - it is that much more likely that the 
contract will be enforceable.  It is certainly not necessary from my point of 
view that the document take up the entire page rather than appearing in a 
smaller window with a scroll bar down the side - in fact I think that looks 
much better.  It would be acceptable from a legal point of view if the 
"agree" button appeared as in the example below as long as it didn't work 
until the agreement had been scrolled through.  I personally think that would 
create more problems from a commercial point of view since many 
counterparties will try to click on "agree" as soon as it appears without 
reading the agreement and get frustrated when it doesn't work right away.  

David - do you agree?




Louise Kitchen
09/28/99 03:55 PM
To: Awais Omar/LON/ECT@ECT
cc: Mark - ECT Legal Taylor/HOU/ECT@ECT 
Subject: Re: Legal Agreement  

Over to legal - what do you think Mark?



Awais Omar
28/09/99 21:50
To: Louise Kitchen/LON/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:  
Subject: Legal Agreement

Louise,

Below is an example of where a legal agreement which you are required to 
accept, where the "Accept" & "Decline" buttons are below the actual agreement 
and not within the agreement.  The agreement itself is within a separate 
frame above the buttons.

A line of instructional line of copy is given at the top telling users to 
read the agreement by paging down and then to click on accept to continue.

A similar set up would be suitable for the GTC's as these can vary in length 
between products and would allow us to control the size of the window which 
should not cover up the whole quotes screen.

Let me know what you think.

Awais