(a) This chapter shall apply to electronic records and electronic signatures relating to a transaction.
Terms Used In Hawaii Revised Statutes 489E-3
Contract: A legal written agreement that becomes binding when signed.
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(b) This chapter does not apply to a transaction to the extent it is governed by:
(1) A law governing the creation and execution of wills, codicils, or testamentary trusts;(2) The Uniform Commercial Code other than § 490:1-201, article 2, and article 2A; and(3) A law or rule governing notice of:
[(A)] Default, including but not limited to notices relating to acceleration, repossession, eviction, foreclosure, or the right to cure;[(B)] Utility shutoff, including water, telephone, gas and electricity; or[(C)] Cancellation, termination, lapse, or material alteration of a contract of insurance, insurance benefits, life settlement or viatical settlement agreement, or service contract.(c) This chapter applies to an electronic record or electronic signature otherwise excluded from the application of this chapter under subsection (b) when used for a transaction subject to a law other than those specified in subsection (b).(d) A transaction subject to this chapter is also subject to other applicable substantive law.
