Conclusion of the electronic transfer of funds contract.

The contract in general is the agreement of two or more wills on the arrangement of legal effects, whether these effects are the creation, transfer, amendment or termination of an obligation, the emergence of the electronic bank transfer contract fulfilling the elements of its convening and the conditions of its validity is the basis on which the parties to the contract rely when they are required to implement the corresponding obligations stated in the contract, and the electronic transfer contract for funds is between several parties who are the ordering person requesting the transfer, and the bank ordering the transfer to the beneficiary, whether direct transfer or transfer from Through another bank that delivers the amount to the beneficiary and the last party in the electronic transfer contract. The elements of the transfer contract, like all civil contracts, consist of consent, place and cause, and sometimes form is required. When any of the essential elements of the contract is defaulted, the contract becomes void and does not produce its effects. Referring to the Iraqi Electronic Signature and Electronic Transactions Law No. (78) of 2012, we did not find that it includes a definition of the electronic transfer contract, but it touched on the electronic contract in general.