srcElement
is proprietary property originally coming from IE. The standardized property is target
:
var target = event.target || event.srcElement;
if(target.onclick == null) { // shorter than getAttribute('onclick')
//...
document.mainForm.submit();
}
Also have a look at quirksmode.org – Event properties for more cross browser information.
Regarding the question what it is doing:
event.target
/ event.srcElement
contains a reference to the element the event
was raised on. getAttribute('onclick') == null
checks whether a click event handler is assigned to element via inline event handling.
Is it important? We cannot say because we don’t know what the ...code..
is doing.