As the volume of electronic contracting continues to increase rapidly, legislatures around the world are evaluating existing contract law doctrines in light of new business practices, m that sense, there are two different approaches: European and American. Both European Union and United States legislators seem to agree that facilitative or enabling rules of contract law, in particular those from which parties may derogate, may not require fundamental reform, but mere adaptations. There is much more divergence with regard to the modern overlay of public law that characterizes what was once the law of purely private contractual obligations. In Europe, as well as in Serbia, a generally stronger public sentiment in favour of regulation of markets leads legislators to work to update and preserve the content of existing regulations that limit the scope of private choice in markets. On contrary, United States relucted to restate existing regulations in terms that make their application to electronic contracts explicit. As a result, a gradual diminution of public oversight of market behavior as economic activity assumes more on-line dimensions. This paper considers some of the strengths and weaknesses of certain recent law reforms in European Union, the United States and Serbia.