2. With the increasing prevalence of e-commerce technology, the application of contract basics becomes crucial. Analyse the key elements to consider when applying contract principles to online transactions. Discuss the significance of clear terms and conditions, privacy policies, and electronic signatures in ensuring the enforceability and protection of parties in e-commerce contracts. Evaluate the challenges faced by businesses in incorporating these elements and maintaining compliance with consumer protection laws. Provide insightful examples and critical analysis to demonstrate a deep understanding of the complex dynamics between e-commerce technology and contract fundamentals