kaal:claim:2998033-004

Smart contracts face a legal enforceability risk: they may be attacked as void and unenforceable, because contract law rules on formation, interpretation, conditions and remedies were not written for coded agreements and require substantive adjustment.

lawyers may argue that "smart contracts" are void and unenforceable under the law. Contractual legal rules regarding formation, interpretation, conditions and remedies require substantive adjustments for smart contracts in contract law.

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017), II.4. Limitations, p. 11
https://ssrn.com/abstract=2998033 · source PDF

Wulf A. Kaal, Blockchain Innovation for Private Investment Funds (2017). SSRN: https://ssrn.com/abstract=2998033

• applies under contract law regimes that have not been amended to recognize smart contracts

failuresupport: arguedfailure: smart-contract-unenforceabilityfamily: legal-personality-and-liability-gapsmart-contractslaw-and-legal-systems

• restated_by kaal:claim:3409548-015 Smart contracts face a legal origin problem: lawyers may argue that they are void and unenforceable, and contr...
• extends kaal:claim:2939127-027 Contract law rules on formation, interpretation, conditions, and remedies require substantive adjustment befor...
• restated_by kaal:claim:3071378-009 Even where a smart contract reflects the underlying bargain between the parties, lawyers may argue that smart ...
• restates kaal:claim:2939127-026 Because the legal origin of smart contracting is unsettled, lawyers may argue that smart contracts are void an...

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