kaal:claim:3409548-015

Smart contracts face a legal origin problem: lawyers may argue that they are void and unenforceable, and contract law rules on formation, interpretation, conditions and remedies require substantive adjustment before smart contracts fit within it.

While smart contracts may reflect the underlying contract between parties, lawyers may argue that "smart contracts" are void and unenforceable under the law.65 Contractual legal rules regarding formation, interpretation, conditions and remedies require substantive adjustments for smart contracts

Kaal, Financial Technology and Hedge Funds (2019), II.3 Blockchain Technology, p. 16
https://ssrn.com/abstract=3409548 · source PDF

Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548

• absent statutory recognition of smart contracts

conditionsupport: arguedfailure: Unenforceability of smart contracts under existing contract lawfamily: legal-personality-and-liability-gapsmart-contractslaw-and-legal-systems

• restates kaal:claim:2998033-004 Smart contracts face a legal enforceability risk: they may be attacked as void and unenforceable, because cont...
• extends kaal:claim:2939127-027 Contract law rules on formation, interpretation, conditions, and remedies require substantive adjustment befor...
• extends kaal:claim:2939127-026 Because the legal origin of smart contracting is unsettled, lawyers may argue that smart contracts are void an...
• extends kaal:claim:3071378-009 Even where a smart contract reflects the underlying bargain between the parties, lawyers may argue that smart ...

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