kaal:claim:3405401-008

Because the smart contract removes centralized guarantors and self regulates, only limited legal recourse remains available when execution of the contract terms goes wrong.

Source quote, verbatim

Most importantly, the smart contract removes centralized guarantors. The smart contract self-regulates. Only limited legal recourse is available if something goes wrong in the execution of the terms of the contract.

From

Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019), III. Benefits of Smart Contracts, p. 5
https://ssrn.com/abstract=3405401 · source PDF

Cite as

Wulf A. Kaal, Decentralized Commerce – A Primer on Why Decentralized Reputation Verification Systems Are Needed (2019). SSRN: https://ssrn.com/abstract=3405401

Holds when

something goes wrong in execution of the contract terms

Classification

mechanismsupport: arguedfailure: no-recourse-after-disintermediationfamily: legal-personality-and-liability-gapsmart-contractslaw-and-legal-systemsdecentralization

Related claims

restated_by kaal:claim:3406323-031 Smart contracts remove centralized guarantors and self-regulate, with the consequence that only limited legal ...

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