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Internet agreements

Chris Lozier poses the following question to liblicense-l readers.  We've
talked about licenses of manifest assent recently here, but that wasn't
precisely the same topic.  And we have discussed related topics over the
past couple of years, but this is a question nonetheless worth some air
time, once more.

It does appear that Internet agreements, under certain conditions, are
viewed as legally binding.  Can some of our more legally seasoned
subscribers remind us of those precise conditions and of the basis for our
current understandings?  

Ann Okerson


Are electronic internet agreements "legal?"  Are they "legally binding?"  
Is there a difference?  I am referring to the types of agreements to which
a person would agree by clicking an "I Accept" button.