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LSDefine
Simple English definitions for legal terms
automated transaction
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A quick definition of automated transaction:
An automated transaction is a type of contract that is created or carried out using electronic methods or messages. In this type of transaction, neither party intends for their electronic actions or messages to be reviewed by a person. This means that the entire process is done automatically without human intervention.
A more thorough explanation:
An automated transaction is a type of contract that is formed or executed through electronic means or messages. In this type of transaction, the actions or messages of one or both parties are not intended to be reviewed by an individual in the ordinary course of business.
For example, when you purchase a product online and complete the checkout process, you are entering into an automated transaction. The contract is formed electronically, and the actions of both parties (the buyer and the seller) are executed through electronic messages.
Another example of an automated transaction is when you use an ATM to withdraw money from your bank account. The transaction is executed electronically, and the actions of both parties (you and the bank) are not intended to be reviewed by an individual.
These examples illustrate how automated transactions are becoming increasingly common in our daily lives. As technology continues to advance, we can expect to see more and more transactions being executed through electronic means.