8. A transaction system comprising: (a) a plurality of computers each including an input means, a display means, a network connection and a media recording means; (b) a plurality of media conferencing terminals each including an input means and an output means; and (c) a transaction utility linked to each of the plurality of computers or loaded on the plurality of computers, the transaction utility operable to: (i) establish a media conference between the plurality of media conferencing terminals; (ii) link the plurality of computers and display on the display means of each of the plurality of computers a digital document associated with a transaction and also with the media conference; (iii) record a plurality of digitally generated handwriting elements inputted by one or more participants of the media conference using the input means of one or more of the plurality of computers during the media conference; and (iv) create and store an authentication file that authenticates the digital document by: (A) storing the digital document and the plurality of digitally generated handwriting elements; and (B) storing audio data and/or video data corresponding to the media conference, wherein the audio data and/or video data is processed to enable the identification of the one or more participants of the media conference and to verify the identification of the one or more participants of the media conference; wherein the digitally generated handwriting elements are associated with the digital document; wherein the authentication file is associated with the digital document for authentication of the transaction; wherein the one or more participants of the media conference are parties to the digital document and the associated transaction; and wherein the authentication file authenticates the digital document and the associated transaction using the plurality of digitally generated handwriting elements and the stored audio and/or video data, the stored audio and/or video data enabling the verification of the identification of the one or more participants of the media conference.
8. A transaction system comprising: (a) a plurality of computers each including an input means, a display means, a network connection and a media recording means; (b) a plurality of media conferencing terminals each including an input means and an output means; and (c) a transaction utility linked to each of the plurality of computers or loaded on the plurality of computers, the transaction utility operable to: (i) establish a media conference between the plurality of media conferencing terminals; (ii) link the plurality of computers and display on the display means of each of the plurality of computers a digital document associated with a transaction and also with the media conference; (iii) record a plurality of digitally generated handwriting elements inputted by one or more participants of the media conference using the input means of one or more of the plurality of computers during the media conference; and (iv) create and store an authentication file that authenticates the digital document by: (A) storing the digital document and the plurality of digitally generated handwriting elements; and (B) storing audio data and/or video data corresponding to the media conference, wherein the audio data and/or video data is processed to enable the identification of the one or more participants of the media conference and to verify the identification of the one or more participants of the media conference; wherein the digitally generated handwriting elements are associated with the digital document; wherein the authentication file is associated with the digital document for authentication of the transaction; wherein the one or more participants of the media conference are parties to the digital document and the associated transaction; and wherein the authentication file authenticates the digital document and the associated transaction using the plurality of digitally generated handwriting elements and the stored audio and/or video data, the stored audio and/or video data enabling the verification of the identification of the one or more participants of the media conference. 14. The transaction system claimed in claim 8 wherein the output means is a plurality of audio speakers.